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.
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.
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.