Thursday, July 09, 2020

OwnBackup raised $50M

OwnBackup, the reference in SaaS applications backup, just announced a new round of $50M to accelerate its growth.

This round was led by Insight Partners and Salesforce Ventures is again in the loop. It means that the company reaches $100M and clearly presents itself as the #1 SaaS application backup vendor even if the solution is today limited to Salesforce but it's probably the best one.

Insight Partners owns capital in several data protection companies and we imagine the desire to build a software giant in the domain especially since they acquired Veeam. It could be even bigger...

Other serious players in Salesforce data protection are Kaseya Spanning, Datto Backupify, Asigra or Druva. This backup segment starts to be very hot with approximately today more than 20 players.

I asked the team several times, and especially during the recent the IT Press Tour, to expand to other SaaS applications like Workday, NetSuite... but also they need to address G Suite, Office 365... and it seems that the direction is now taken.

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