What is Backupify?
Backupify specializes in comprehensive cloud-to-cloud SaaS backup and recovery solutions, primarily for Google Workspace and Microsoft Office 365 environments. The company's product suite covers critical applications such as Gmail, Google Drive, Exchange, OneDrive, and Microsoft Teams, ensuring robust data protection against various threats including ransomware and accidental data loss. With a strong user base of over 40,000 companies, Backupify has established itself as a trusted name in automated data security, emphasizing reliability and ease of data restoration. The company's focus on safeguarding essential business data positions it as a key player in the cybersecurity and data management sectors.
How much funding has Backupify raised?
Backupify has raised a total of $22.2M across 5 funding rounds:
Angel/Seed
$725K
Series A
$4.5M
Series B
$5M
Series C
$9M
Debt
$3M
Angel/Seed (2010): $725K with participation from First Round Capital and General Catalyst Partners
Series A (2010): $4.5M led by Lowercase Capital, General Catalyst Partners, and Avalon Ventures
Series B (2011): $5M supported by Avalon Ventures, General Catalyst, and Lowercase Capital
Series C (2012): $9M featuring Lowercase Capital, Avalon Ventures, Symantec Corp., and General Catalyst Partners
Debt (2013): $3M backed by Avalon Ventures
Key Investors in Backupify
Avalon Ventures
Avalon Ventures is a venture capital firm with over 30 years of experience focusing on seed and early-stage companies, particularly in the life sciences and information technology sectors. The firm is driven by a team of former entrepreneurs who are passionate about supporting disruptive ideas in dynamic market environments.
General Catalyst Partners
General Catalyst operates as a venture capital firm focused on identifying and supporting transformational business opportunities across multiple sectors and stages. The firm deploys capital strategically to back entrepreneurs and management teams pursuing ambitious visions that reshape their respective industries.
Symantec Corp.
Founded in 1982, Symantec provides cyber security products, services, and solutions worldwide. The company offers endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services.
What's next for Backupify?
The recent major strategic investment signals Backupify's transition into a scaling phase, likely focusing on expanding its market reach and enhancing its technological capabilities. This strategic financing will probably be directed towards accelerating product development, strengthening its sales and marketing efforts, and potentially exploring new platform integrations. Given the enterprise-level nature of its funding, Backupify is poised to further solidify its leadership in the SaaS backup market, offering advanced data protection strategies to a growing clientele concerned with data resilience and compliance.
See full Backupify company page
