OwnBackup, which offers SaaS backup services for Salesforce, Slack and ServiceNow, has raised $7.5 million in Series B funding.
The funding round was led by Insight Venture Partners and included a cash-influx from pre-existing investors Innovation Endeavors, Oryzn Capital, and Salesforce Ventures.
The Fort Lee, New Jersey-based company says the capital will be used to scale the business and boost product innovation. That includes backup and recovery services for additional SaaS application and simplification of test data environments, the company says.
OwnBackup: Growth Mode
OwnBackup revenues rose 330% in 2016 vs. 2015, though the company did not disclose actual revenue figures.
Among the areas of momentum: OwnBackup ranks highly on the Salesforce AppExchange and while the company has concentrated largely on backup and disaster recovery, last month it diversified its portfolio by launching a Sandbox Seeding solution for Salesforce. The company has also been expanding its replication and data integrity capabilities.
OwnBackup CEO Sam Gutmann is well-known in MSP circles. He previously was CEO and co-founder of Intronis, which Barracuda Networks acquired in September 2015. The Intronis backup platform has since grown to support more than 2,400 MSPs.
Still, OwnBackup's go-to-market strategy appears to be slightly different than that of Intronis. Indeed, Gutmann's team appears to be targeting ISVs and systems integrators for partner engagements.
Among OwnBackup's investors, Insight Venture Partners is a venture capital and private equity firm that invests in high-growth software and Internet companies. The firm recently acquired Resolve Systems, a deep-rooted Splunk partner. Insight, which also owns Kaseya, has investments in more than 250 companies around the world and raised more than $13 billion.
