Wednesday, October 19, 2022

HYCU adds Okta Ventures as strategic investor

HYCU, the emerging leader in Modern Data Protection, joined the recent IT Press Tour in California and it was the right moment to receive fresh informations on its fast growing trajectory.

Beyond the recent identity change following the arriving of its new CMO, Kelly Hopping, the company has changed also its vision being now “Data anywhere, protected everywhere” as HYCU has meant different things since the launch of the company.

The entity clearly moves into a global play with a multicloud go-to-market route far from how is started being a dedicated Nutanix data copy engine. Protégé, launched during the 32st edition of the tour, supports Nutanix, VMware, GCP, Azure, AWS and Office 35, fueled by an agent-less philosophy and an application discovery capabilities.

Clearly the arrival of Okta, the IAM champion, as a strategic investor, invites me to think about all Okta powered accounts and all SaaS services they enabled opening a huge business opportunity for HYCU. In US, we count more than 15,000 SaaS vendors, it seems to be too big for me, but this is the number shared by HYCU probably coming from Okta. Simon Taylor, CEO of HYCU, said Okta joined an extended series B, but does it mean they injected money because the number of $53 million was given in June and Okta didn't belong to the investors list at that time. Okta and HYCU have more than 100 common customers.

Today the focus for HYCU is around data mobility and data security and they plan to announce a new product iteration with Okta early December. We’ll see…



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