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Clumio raises $75M to automate cloud data backup and recovery | TechCrunch

Feb 21, 2024 - techcrunch.com
Clumio, a data backup and recovery provider, has raised $75 million in a Series D funding round. The company, which experienced a four-fold increase in annual recurring revenue (ARR) last year, helps businesses automate their data backup and recovery workflows, protecting against threats such as ransomware and datacenter disasters. Clumio primarily serves Amazon's cloud infrastructure but has expanded its support to Microsoft 365 and plans to extend to other clouds this year.

The funding round was led by Sutter Hill Ventures, with participation from Index Ventures, Altimeter Capital, and NewView Capital. The funds will be used to expand Clumio's market reach and cloud support. The company's CEO, Poojan Kumar, stated that despite the challenging macro environment, the company decided to raise its Series D appropriately after quadrupling its ARR and securing new investors.

Key takeaways:

  • Clumio, a data backup and recovery provider, has raised $75 million in a Series D funding round.
  • The company reported a four-fold increase in annual recurring revenue (ARR) last year, with new customers such as Atlassian.
  • Clumio plans to expand its data plane to other clouds this year, aiming to be the backup solution for any cloud, any workload.
  • The Series D round was led by Sutter Hill Ventures, with participation from Index Ventures, Altimeter Capital, and NewView Capital.
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