Salesforce, Innovation Endeavors Invest in Cloud Backup Startup
New Jersey-headquartered OwnBackup develops a cloud-to-cloud automated backup and recovery system
Customer relation management powerhouse Salesforce and Eric Schmidt’s venture capital firm Innovation Endeavors have invested in cloud backup startup OwnBackup Ltd.’s latest $15.5 million funding round, the company announced Thursday. This brings the company’s total equity funding to $37.5 million.OwnBackup will use this funding to accelerate its global growth, drive product development and double its U.S. and Israel teams by the end of the year, the company said in a statement.
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Founded in 2012, OwnBackup develops a cloud-to-cloud automated backup and recovery system. According to LinkedIn data, the company has over 60 employees in its Fort Lee, New Jersey headquarters and in additional offices in Tel Aviv and London.
Salesforce founder and CEO Marc Benioff. Photo: Bloomberg
Innovation Endeavors and Salesforce, through its investment arm Salesforce Ventures, both invested in OwnBackup’s previous rounds. The current funding round was led by Vertex Ventures Israel and existing investor Insight Venture Partners, with additional participation by Tel Aviv-based Oryzn Capital.