Public and private investors alike are clamoring for more exposure to software companies, moreover, in the security space. Druva has three superb elements that make it an ideal investment opportunity: 1. It provides software, which generates a recurring revenue stream 2. It operates in the cloud off of AWS, which has a rapid adoption rate that will continue well into the foreseeable future, and 3. It protects data, the most valuable resource a company has.
Druva also happens to be backed and guided by prestigious investors including Riverwood Capital, Tenaya Capital, and Nexus Venture Partners. The latest investor to join the group is Viking Global Investors, a hedge fund based in Greenwich, Connecticut, which was established in 1999 by Ole Andreas Halvorsen. While hedge funds can be secretive about their operations, it was reported in 2014 that Viking had amassed $29 billion in assets under management. That amount is likely lower today given in 2018, it was reported the fund would return about $8 billion to investors.
Viking led this latest investment round, which totaled $130 million bringing total capital invested in the company to $328 million. Additional new investors participating in the round included Neuberger Berman and Atreides Management while existing investors also joined in.
Commenting on the investment, Harish Belur, managing director at Riverwood Capital, had this to say, “We invest in companies based on a thorough assessment of their business models and fundamentals, the quality of their management teams, and cyclical and secular industry trends,” also adding, “Druva is doing something unique and special and, as a result, has grown at a phenomenal rate over recent years, all while keeping the trust and loyalty of its enterprise customers around the globe. We know this market is taking off and we continue to invest in Druva because we are sure it has the right product, executive team, and market execution to maintain leadership in the industry.”
Industry partner Amazon expressed enthusiasm for Druva. Mike Clayville, vice president Worldwide Commercial Sales and Business Development, Amazon Web Services, stated,
“Druva is a leading Advanced Technology Partner in the AWS Partner Network,” further adding, “Druva’s solutions powered by AWS are changing the way data is managed and protected at thousands of companies globally. We’d like to congratulate Druva on its latest fund raise, and look forward to innovating with Druva to create new solutions that benefit our customers.”