Data Backup specialist Clumio has announced that it has secured $75M in a Series D funding round by Sutter Hill Ventures.
The investment will be used to accelerate the company’s innovation and go-to-market in radically simplifying backup and recovery for public cloud customers. Clumio has now raised a total of $261 million.
Clumio also announced a 4X growth in annual recurring revenue (ARR) in 2023, fueled by accelerated enterprise customer acquisition—software powerhouse Atlassian, legal and risk management leader LexisNexis, and recently public fast-casual restaurant chain Cava to name a few. Clumio is now well into double-figures in millions of dollars in annual recurring revenue (ARR), with over 100 petabytes (PB) of cloud data protected for hundreds of customers, a net promoter score (NPS) of 86, and a 5-star rating on the AWS Marketplace.
“Customers have reached a point of maturity in the public cloud where backup and recovery of their critical data is now a top priority,” said Poojan Kumar, co-founder and CEO of Clumio. “It is foundational to their operational resilience, ransomware recovery, and regulatory compliance needs. Because traditional backup and recovery vendors are not architected for public cloud applications, Clumio is seeing a deluge of demand across cloud databases, data lakes, and high-performance storage. We will use our Series D funding to accelerate our momentum in these areas, across the major cloud providers.”
“Clumio is doing to enterprise backup and recovery what Snowflake did to enterprise data warehousing,” said Rick Underwood, Chief Revenue Officer at Clumio. “With the explosion of cloud data, customers need a backup solution natively built in the cloud that can leverage and scale with their other cloud services. I witnessed this shift from bolt-on, retrofitted deployments towards hands-off, consumption-based solutions first-hand during my tenure at Snowflake, when the company grew its revenue 30X in five years. I am excited to lead Clumio on a similar revenue trajectory.”
