Transforming Cloud Data Protection
Clumio, a leader in cloud-native backup and recovery solutions, recently secured a significant financial boost, announcing a successful $75 million Series D funding round led by Sutter Hill Ventures, with contributions from Index Ventures, Altimeter Capital, and NewView Capital. This investment spike raises Clumio’s total capital amassed to an impressive $261 million, setting the stage for the company to further trailblaze within the public cloud sector. In a digital ecosystem where data integrity and recovery are paramount, Clumio’s drive to simplify backups stands as a cornerstone of their business model and market appeal.With enterprises increasingly floating toward cloud-based infrastructures, the demand for effective backup and recovery processes has risen sharply. Clumio’s fourfold increase in annual recurring revenue in 2023 underpins its growth trajectory and customer trust. The company’s clientele, which includes recognizable names such as Atlassian, LexisNexis, and Cava, reflects its industry credibility. Now overseeing an expanding ARR in the tens of millions and managing over 100 petabytes of safeguarded cloud data, Clumio caters to a voluminous customer base, securing not only their data but also its own position in the competitive cloud space.Funding Fuelling Innovation
Clumio has raised $75 million to revolutionize cloud backup beyond traditional and often insufficient methods like snapshots. Their serverless backup system offers a secure, cost-effective solution that aligns with strict compliance standards, unlike conventional tools that falter in optimization and security. By introducing an air-gapped, immutable design, Clumio ensures data invulnerability that traditional backups can’t guarantee.Their latest innovation, “S3 Instant Access,” enhances Amazon S3 by enabling users to keep their operations running smoothly during data restoration, marking a significant leap in cloud data recovery. Clumio has been recognized for its pioneering efforts with accolades such as the InfoWorld Technology of the Year award in Cloud Compliance and Governance. Comparisons to Snowflake’s impact on data warehousing highlight Clumio’s potential for revenue growth. With its new funding, Clumio is poised to meet the evolving demands of cloud-scale data protection and assert its leadership in the industry.
