Druva buys Silicon Valley startup CloudLanes to boost IP-based capabilities
Sunnyvale, California headquartered cloud data protection firm Druva Inc on Tuesday announced the acquisition of CloudLanes Inc, a Silicon Valley based startup that specialises in enabling the migration of on-premise data to the cloud. The financial details of the transaction were not disclosed.
With the addition of CloudLanes to its arsenal, Druva plans to expand the cloud to the edge, allowing participating enterprises to keep data ready on-site while leveraging its own SaaS (software-as-a-service)-based services. The acquisition will help Druva achieve shorter recovery windows and greater workload mobility, thereby reducing costs up to 50 percent, the company said in a statement.
Founded in 2015 and backed by Microsoft Ventures, CloudLanes claims it was the first to take a hybrid cloud approach to secondary storage platforms built on public clouds. By integrating with the capabilities that CloudLanes’ on-premises environment offers, Druva can enable its enterprise clients to achieve instant recovery of data and enhance data without adding any hardware.
“Enterprises are now seeing first-hand the challenges of hybrid cloud solutions that are increasingly in-flexible with today’s cloud-driven world. Current hybrid solutions are trying to forklift legacy to cloud, but organizations need solutions that are born in the cloud and bring cloud functionality closer to the datacenter,” Druva co-founder and CEO Jaspreet Singh said.
In an earlier interview with TechCircle, Singh had said that the CloudLanes acquisition would see the company working closely with Microsoft Azure and termed it an IP-driven acquisition rather than a revenue driven one.
CloudLanes co-founder and CEO Abhijit Dinkar added, “Businesses are looking for greater flexibility and more cost effective ways to manage their backup data, and are increasingly looking to the cloud.”
In June, Druva became the second India-born SaaS startup after Freshworks Inc to enter the unicorn club, industry parlance for startups valued privately at $1 billion or more, after it raised $130 million in a round of funding led by Viking Global Investors.