Friday, 22 April 2016

Druva gets strategic investment from NTT Finance, expands in Japan

Druva is trying to tap into the growing Asia Pacific market for security

Druva Inc., a start-up that helps enterprises protect and manage their data across devices, said it received a strategic investment from NTT Finance, the financial arm of Japanese telecommunications company Nippon Telegraph and Telephone Corporation, to strengthen its presence in Japan.
Druva is trying to tap into the growing Asia Pacific market for security software. Last year, it entered Japan by localising its products in partnership with NTT Neomeit and NetOne Systems.
“We see our Japanese market expansion as a way to sustain the continued doubling of our global business each year with the Japanese growth significantly in excess of this,” Jaspreet Singh, chief executive officer of Druva, said in an email.
“We believe Druva will simplify and strengthen Japanese companies’ information security and compliance efforts, and that’s why we are investing in the company,” said Masayuki Utada, senior executive manager, International Business Unit, NTT Finance, in a statement.
Enterprises deal with vast amounts of data spread across multiple devices. For companies, it is crucial that all this data is continuously backed up, and is compliant with data governance policies. Druva has two products that deal with this—inSync, which helps companies protect data in end-user devices such as laptops or mobile phones, and Phoenix, which helps companies remotely backup and archive their server data.
However, when Jaspreet Singh, Milind Borate and Ramani Kothandaraman started Druva in 2008, they set out to build a very different product - one that dealt with disaster recovery software. On realising that it was very difficult for Indian companies to sell such a product, they shifted to data protection.
Druva serves over 4,000 enterprise customers with 65% of them in the Americas, 25% in Europe and the Middle East and 10% in the Asia Pacific region.
The Sunnyvale, California-based company has all its engineering team in its Pune office in India, with the sales, marketing, product and finance teams in the US.
Druva was identified as one of the top 30 product companies in the country according to the iSPIxB2B index by software products think-tank iSpirt, which tracks the software products industry.
It has so far raised $67 million from investors including Sequoia Capital, Tenaya Capital and Nexus Venture Partners, and counts iSpirt co-founder Sharad Sharma as an angel investor.
Druva competes with large enterprises such as EMC Corp., Symantec Corp., and Hewlett Packard Enterprise.

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