Druva, a startup that protects data on enterprise laptops, said today it has raised $12 million in a second round of funding.
The Mountain View, Calif.-based company’s Enterprise inSync software backs up data on enterprise laptops, smartphones or tablets. It can also retrieve data as needed. Intel recently said that the cost of a lost laptop with unprotected data is $49,000.
Druva’s backups are more efficient than a standard backup because the company “de-duplicates” data, where it saves only a single copy of data duplicated across users. That makes backups 10 times faster and allows them to save 90 percent bandwidth and storage. Druva can store its data on a company’s premises or in the cloud, or web-connected data centers.
The round was led by Nexus Venture Partners, and existing investor Sequoia Capital also contributed. The funding will be used to expand both products and sales and marketing in several regions. Jaspreet Singh, co-founder and chief executive of Druva, will also become chairman. Other board members include Shailendra Singh, managing director, Sequoia Capital; Jishnu Bhattacharjee, principal, Nexus Venture Partners; Ramani Kothandaraman, co-founder and chief operating officer of Druva; and Yoram Novick, CEO and founder of Topio.
Druva was founded in 2007 and has more than 750 customers. It protects 300,000 laptops and other devices. Druva has 90 employees and competes with EMC Avamar, Symantec, and Iron Mountain (now Autonomy). It has raised $17 million to date. The name Druva comes from Sanskrit and means “North Star.”