Press release published by: http://blog.ownbackup.com
OwnBackup, a leading Software-as-a-Service (SaaS) application backup and restore vendor, today announced the close of a $7.5 million Series B round led by Insight Venture Partners, a New York-based private equity and venture capital firm and one of the world’s largest investors in high-growth software companies. Existing investors Innovation Endeavors, Oryzn Capital, and Salesforce Ventures also participated in the round, which constitutes a minority equity stake.
Calsoft Whitepaper: Application Aware Snapshot Management
The round comes on the heels of an explosive year for OwnBackup, with 330% year-over-year revenue growth in 2016. Users of SaaS applications are increasingly turning to OwnBackup for data protection, archiving, compliance and development enablement. These organizations are fueling a burgeoning market for cloud-to-cloud private backup, recovery and replication services. The new capital will fuel the company’s continued expansion and speed product innovation, including backup and recovery services for additional SaaS applications and the simplification of test data environments for developers working with SaaS applications.
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Calsoft is a leading software product engineering services company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. www.calsoftinc.com