Total amount raised
$261 Million
Latest funding date
2/1/2024
Location
Clumio has successfully raised funding through four rounds, with notable investors including Index Ventures, NewView Capital, and Sutter Hill Ventures. The company specializes in providing cloud-based data protection and backup services tailored to enterprise needs.
Keep reading to explore the intricacies of Clumio's fundraising journey and the investors backing this innovative platform.
What Is Clumio?
Clumio, founded in Santa Clara, California, specializes in cloud-based data protection and backup services. The company operates in the Cloud Security, Computer, SaaS, and Software industries and has an employee count ranging from 51 to 100.
Acquired by Commvault, Clumio offers cyber resilience for applications, databases, and data lakes on AWS. Its features include immutable, air-gapped backups to protect against ransomware, scalable backup and recovery solutions, and tools to simplify cloud compliance readiness.
How Much Funding Has Clumio Raised?
- Series A
- Amount Raised: USD 11,000,000
- Date: October 2017
- Lead Investors: Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's foundation and develop its initial cloud-based data protection solutions.
- Series B
- Amount Raised: USD 40,000,000
- Date: August 2019
- Lead Investors: Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings to meet growing market demand.
- Series C
- Amount Raised: USD 135,000,000
- Date: November 2019
- Lead Investors: Altimeter Capital, Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand customer base and accelerate growth in the cloud data protection market.
- Series D
- Amount Raised: USD 75,000,000
- Date: February 2024
- Lead Investors: Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate innovation and expand market reach, particularly in cloud-native backup solutions.
Total Amount Raised: USD 261,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Sutter Hill Ventures
- Details: Sutter Hill Ventures is a venture capital firm that has been investing in early-stage technology companies for over 50 years. They led Clumio's Series D funding round.
- Investment Focus Areas: Technology, enterprise software, cloud computing, data analytics.
- Notable Investments: Pure Storage, Snowflake, Sumo Logic.
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology-enabled companies. They participated in Clumio's Series D funding round.
- Investment Focus Areas: Technology, software, consumer internet, fintech.
- Notable Investments: Dropbox, Slack, Robinhood.
- Altimeter Capital
- Details: Altimeter Capital is a technology-focused investment firm that manages both public and private equity funds. They participated in Clumio's Series D funding round.
- Investment Focus Areas: Technology, software, internet, digital transformation.
- Notable Investments: Snowflake, Unity Technologies, Roblox.
- NewView Capital
- Details: NewView Capital is a venture capital firm that focuses on growth-stage companies. They participated in Clumio's Series D funding round.
- Investment Focus Areas: Technology, enterprise software, fintech, consumer internet.
- Notable Investments: Duolingo, Plaid, Scopely.
What's Next for Clumio?
Clumio stands at the cusp of significant opportunities, driven by the increasing demand for cloud data protection solutions. The company is poised to expand its services across more cloud platforms, enhancing AI and machine learning capabilities to automate and optimize data backup and recovery processes. This expansion could potentially lead to a broader global market penetration, bringing advanced cloud data protection solutions to businesses worldwide.
Given the substantial market demand and Clumio's impressive growth trajectory, future fundraising opportunities appear promising. The company may attract further investment to support its expansion and innovation efforts, potentially leading to additional venture capital rounds or even an initial public offering (IPO). This influx of capital would enable Clumio to accelerate its go-to-market strategies and enhance its product offerings.
However, Clumio will face challenges such as maintaining the pace of innovation to stay ahead of competitors, ensuring compliance with evolving regulatory standards, and scaling operations globally while maintaining high service quality. Navigating these challenges will be crucial for Clumio as it continues to grow and solidify its position in the cloud data protection market.
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