Data backup solutions firm SysCloud raises $2.5M from Inventus, Kae Capital
US- and Chennai-based SysCloud, Inc., which provides data backup and disaster recovery solutions to enterprises, has secured $2.5 million in its Series A round of funding led by Inventus Capital Partners, with participation from existing investor Kae Capital.
SysCloud plans to use the funds to ramp up its sales and marketing activities and scale up current operations, in addition to accelerating development for product innovation, the company said in a statement.
As part of the deal, John Dougary of Inventus will be joining the board of SysCloud.
"At SysCloud, we are focused on providing the highest level of data security, and this funding allows us to build on our current product innovations to cover other cloud-based collaboration tools, including Microsoft Office 365, Salesforce, Dropbox and Box," said Vijay Krishna, founder and CEO of SysCloud.
The startup was founded in 2010 by Krishna, who holds an MS degree in Computer Science from University of Tennessee, Knoxville. SysCloud provides protection for data in Google Apps through real-time backups and security policies. The firm claims to have over 500,000 users in 32 countries.
SysCloud's solutions include Google App backup, a round-the-clock protection of Google Apps data that works in real time; Data Sharing Visibility, an insight into how data are shared within an organisation from external users or to the public; and Security Policy Enforcement, an automatic enforcement of Google Drive security policies to protect against exposure of sensitive data.
"As we continue to read about data breaches among some of the largest companies around the world, SysCloud's data security suite is becoming an invaluable tool for companies and organisations with sensitive data," said Dougery.
"The growth that SysCloud has seen in the past year is testimony to the company's success and we are looking forward to partnering with them as they continue to disrupt the market," he added.
"For us at Kae, the growth of SysCloud has been very exciting to witness as an early investor in the company. Kae is privileged to be associated with Vijay and his team over the last two years and we welcome Inventus to the Syscloud partnership," said Sasha Mirchandani, managing director of Kae Capital.
(Edited by Joby Puthuparampil Johnson)