Israeli cloud-to-cloud business continuity platform OwnBackup today announced the completion of a $50 million financing round led by Insight Partners, and with participation from Salesforce Ventures, Vertex Ventures and previous investor Innovation Endeavors. This brings the company’s total funding to over $100 million.
The latest funding will be used to accelerate product development and expand marketing to achieve OwnBackup’s vision to provide one place where executives can backup, protect, and analyze their mission-critical and increasingly complex software-as-a-service (SaaS) data.
The company was founded in 2015 by CEO Sam Gutmann, CTO Ariel Berkman, EVP sales Ori Yankelev, and Eran Cohen, who no longer has an active position with the company. OwnBackup is headquartered in New Jersey with its development offices in Tel Aviv and London. The company has 230 employees, 70 of whom are in Israel.
Gutmann said, "This oversubscribed round signifies investors’ recognition of our early dominance in a huge addressable market. In today’s uncertain climate, more CIOs and CEOs realize the importance of building greater resiliency into their business. We’re committed to keeping their operations running around the clock with enterprise-grade, set-it-and-forget-it monitoring and recovery - both during the COVID-19 pandemic and over the long term."
Published by Globes, Israel business news - en.globes.co.il - on July 7, 2020
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