Druva Acquires Hybrid Cloud Data Migration Company CloudLanes
Founded in 2015 and backed by Microsoft Ventures, CloudLanes software takes data from on-premises resources and moves it to the cloud in what the company calls “a fast, secure, and auditable manner.” That should align well with Druva’s cloud backup, restore and other data protection capabilities across Amazon Web Services (AWS), Salesforce, Microsoft Office 365 and VMware.
Jaspreet Singh, founder, and CEO, Druva, commented on the deal:
“Enterprises are now seeing first-hand the challenges of hybrid cloud solutions that are increasingly inflexible with today’s cloud-driven world. Current hybrid solutions are trying to forklift legacy to cloud, but organizations need solutions that are born in the cloud and bring cloud functionality closer to the datacenter. The addition of CloudLanes will help us extend the advantages of cloud to more enterprises at the edge, bringing greater access to data, enhanced protection, and help accelerating growth through simple and reliable data protection.”
Added Abhijit Dinkar, co-founder and CEO, CloudLanes:
“Businesses are looking for greater flexibility and more cost effective ways to manage their backup data, and are increasingly looking to the cloud. CloudLanes’ innovative approach to data migration enhances the Druva Cloud Platform and will bring enterprises a novel and powerful new approach to data protection and management.”
CloudLanes had approximately 12 employees. One of the company’s co-founders, the lead architect, and several engineers have joined Druva already, the buyer confirmed to ChannelE2E. Druva says it is currently working with the co-founders on an integration plan, and exploring opportunities to bring on additional members of the CloudLanes team.
Druva Partner Program, Funding
Druva, founded in 2008, recently launched a partner program, dubbed Druva Compass. The program is available immediately to partners in North America and EMEA (Europe, Middle East, Africa) and will be available globally later this year.
Moreover, Druva recently raised $130 million, and the company apparently has achieved unicorn status at more than $1 billion in valuation, according to The Economic times.
In terms of growth, Druva’s annual recurring revenue is nearly the $100 million run rate, and the company is growing 50 percent annually, reports suggest.
Data Protection Competition
Still, numerous data protection upstarts and established rivals are in the market — striving to help partners safeguard on-premises and cloud-based systems.
Potential rivals include Cohesity, Datto, Rubrik and Veeam, depending on market segment. Some established data protection companies, particularly Commvault and Veritas, also are taking steps to become more nimble in the cloud era.
Additional insights from Joe Panettieri.