The Indian business industry has been thriving over the past few years. Companies are rising under the start-up Indian policy, investments increasing under the ‘Make in India’ policy and the increasing requirement of new services due to lifestyle changes. All of it has led to the rise of the business empire in the country.
One such company is Druva. Druva is a tech-based company that has now added itself to the unicorn list of companies in India. It has shown vigour and effort to come out on top.
Druva is a company that provides data protection solutions to most companies and business houses. It runs on a business to business (B2B) model, which is probably why a common man on the road might not have heard about them. Yet, with growing privacy and security concerns in India and the world, Druva is playing a pivotal role in keeping everything safe.
It was founded in 2008 by IIT Guwahati graduate, Jaspreet Singh who started the firm with just 7 employees. A slow start with a PC backup service and a basic protection service, it has grown beyond barriers to now have more than 4000 clients like Marriott and Hitachi in its portfolio.
The company grew over time, 54 employees in 2008, Ranking 1st in the Enterprise Endpoint backup by Gartner list in 2012 and now operations in 7 countries worldwide, Druva has never looked back.
It also comes with an innovation center in Pune, branches in Singapore and Sunnyvale. The firm puts forward multiple services for a client along with the core backup and protection service allowing clients to opt for more, when the job is done well. This has led to an average revenue of $25000 per customer for the company which is pretty good for a growing enterprise.
In fact, the main reason for their success has been the growth and need for cloud services in companies and Druva? It’s the only native cloud service around in India.
A Unicorn is a company in India that has crossed a $1 billion valuation, as a start-up. A good example could be Uber or the most recent Indian brand, BigBasket. Named after the rare breed of animals, it puts forward the absence and needs to such companies in the world.
So, Druva has joined the list of Unicorns in India after receiving a $130 million investment funding from American hotshots Viking Global investors, Neuberger Berman and Atreides Management. It already had investments from Sequoia Capital and Tenaya Capital.
This has put Druva with $328 million raised, more than 700 employees in Pune and California and the option to increase its portfolio of services for clients.
Jaspreet Singh calls Druva a small company that’s still growing but Druva is a successful company awaiting greater heights, a race to the top.