Cloud security provider Druva sees 70% YoY growth in data centre workload revenue

Cloud security provider Druva sees 70% YoY growth in data centre workload revenue
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1 Jul, 2020

Cloud data protection and management solution provider Druva has seen a 70% year-over-year increase in recurring revenue for its data centre workload protection.

The Sunnyvale, California based company also claimed that it was now the largest software as a service (SaaS)-based data protection provider, with 50% growth in overall data under management as compared to the previous year.

“The spring of 2020 will be forever remembered as the inflection point of the cloud era when years of planning and discussion transformed into action and massive migration efforts nearly overnight,” Jaspreet Singh, founder and CEO, Druva said in a statement.

Infrastructure spending was projected to grow to $237 billion this year owing to increased spending by service providers, according to a report by research firm IDC released in May. 

SaaS solutions witnessed growth during the period for their one-click setup, automated updates, diverse workload coverage and lowered costs.

Druva said that customers have used its solutions to conduct over 1.5 billion backups in the past 12 months. Some 1,000 companies picked the SaaS security vendor as an alternative to legacy-based data protection solutions that are infrastructure and investment heavy.

According to the company, it now supports more than 800 customers on Microsoft 365 workloads, 400 companies on Amazon Web Services- native workloads and helps more than 700 customers with their data centre workloads.

Close to 25% of the company’s cloud customers are also purchasing multiple workload protection solutions from Druva, according to the statement.

Read: Druva offers free data protection services to secure remote employee data

“I expect data protection solutions to play a more critical role than ever before to ensure that enterprise collaboration platforms can run 24 x 7 to keep employees productive,” Phil Goodwin, Research Director, IDC said.