Israeli-Founded Cloud Protection Firm OwnBackup Nears $3.35 Billion Valuation
by Reuters and Algemeiner Staff
US-Israeli cloud data protection firm OwnBackup said on Tuesday it raised $240 million in a late-stage funding round to bring its valuation to near $3.35 billion.
The round was co-led by Alkeon Capital and B Capital Group, and included a secondary investment in the company by BlackRock Private Equity Partners and Tiger Global. Existing investors Insight Partners, Salesforce Ventures, Sapphire Ventures, and Vertex Ventures also participated.
OwnBackup has raised a total of nearly $500 million, while also announcing plans to expand its backup and recovery solutions across other cloud platforms later this year, beginning with Microsoft.
It said it has close to 4,000 customers including Aston Martin, Guidewire Software, the Make-A-Wish Foundation, Medtronic, Navy Federal Credit Union, Singapore Economic Development Board, and the University of Miami.
OwnBackup is based in New Jersey but was founded in Israel, where it retains a large presence.