Druva, the Sunnyvale, California headquartered cloud data protection and management provider, has managed to stay on course in terms of revenue for the first quarter of the current financial year.
The Covid-19 pandemic has created opportunities for the company, especially due to the rise in demand for public cloud and software-as-a-service (SaaS) solutions.
Druva, which crossed $100 million in annual recurring revenue in December 2019, even beat its booking targets by 15% in Q1 despite the economic uncertainties caused by the pandemic.
It has managed to balance dip in renewals from the hospitality, travel and tourism sectors with growth from consulting, manufacturing, finance, healthcare, pharmaceuticals and other sectors.
The company has also seen an increase in growth from Europe-Middle East as well as Asia-Pacific markets over the last quarter, owing to a rise in demand for backup and disaster recovery on the cloud from enterprise clients.
In an interview with TechCircle, Milind Borate, chief technology officer at Druva, India discusses how the company re-calibrated its business spends.
“The uptick in demand for backing up workload on AWS (Amazon Web Service), VMC, Kubernetes has led to an acceleration in the product development,” Borate said.
Borate co-founded Druva with his colleague from Veritas, Jaspreet Singh in 2008. He manages Druva’s India operations out of Pune. An alumnus of Pune Institute of Computer Technology, Borate had previously founded a software services company, Coriolis Technologies in 2005 which he quit in 2007.