India’s First SaaS Product Unicorn: Druva opens new facility in Pune
California-based cloud data protection and management startup Druva has opened a new facility in Pune and aims to expand employee headcount to 1,000 in the next two years across India.
The new facility in Pune will serve as a key innovation centre, focused on product development, housing Druva’s engineering talent.
As the startup continues to expand its global footprint, serving the international demand, the firm may consider a public offering next year, if the conditions are conducive.
Druva was founded by Jaspreet Singh, Milind Borate, and Ramani Kothandaraman in 2008. Druva’s data management-as-as service platform unifies data protection, governance and intelligence across enterprise data, delivering enterprise-level availability and security while reducing cost and complexity for its clients.
Talking about the new facility, Jaspreet Singh, Founder and CEO, Druva. “The development centre is a major step toward continuing our global expansion, strengthening our international reach, and positioning Druva to attract the best talent in the world. This is where Druva was founded and we look forward to working on new technology here that will help fuel our aggressive international growth plans.”
Druva’s majority market is in North America, contributing 72% of its revenue, while, the rest is spread across Asia and Europe. The startup claims to grow at 60% and is on track to do a recurring revenue of $100 million at the end of this fiscal.
The startup is backed by prominent venture capital firms like Sequoia Capital India, Nexus Venture Partners, Tenaya Capital, and Blue Cloud Ventures. It is also supported by the Indian Angel Network.
Druva last raised $80 million in a funding round led by Riverwood Capital, along with participation from Sequoia Capital India, Nexus Venture Partners, and Tenaya Capital in August 2017.
Earlier in June, Druva acquired Chicago-based CloudRanger, a SaaS startup specializing in bringing simplicity and automation to the management of Amazon Web Services (AWS) cloud resources.