Total amount raised
$261 Millions
Latest funding date
2/1/2024
Location
Clumio has successfully raised significant funding through multiple rounds, with its latest being a Series D. The company specializes in providing autonomous backup and recovery solutions for critical cloud data.
Keep reading to explore the intricacies of Clumio's fundraising journey and the investors backing this innovative platform.
What Is Clumio?
Clumio, founded in 2017, is based in Santa Clara, California. The company was established by Kaustubh Patil, Poojan Kumar, and Woon Ho Jung.
Specializing in cloud-based data protection, Clumio offers a platform that provides backup services for various cloud environments, including AWS and Microsoft 365. Their solutions are designed to be scalable, efficient, and easy to manage.
With a team of 51-100 employees, Clumio focuses on delivering autonomous backup and recovery solutions to ensure data resilience against cyberattacks and operational disruptions.
How Much Funding Has Clumio Raised?
- Series A
- Amount Raised: $11M
- Date: October 2017
- Lead Investors: Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and build the core team.
- Series B
- Amount Raised: $40M
- Date: August 2019
- Lead Investors: Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the customer base.
- Series C
- Amount Raised: $135M
- Date: November 2019
- Lead Investors: Altimeter Capital, Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance product offerings.
- Series D
- Amount Raised: $75M
- Date: February 2024
- Lead Investors: Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To spur growth across public clouds and strengthen the leadership team.
Total Amount Raised: $261M. 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 since 1962. They led Clumio's Series D funding round.
- Investment Focus Areas: Technology, healthcare, enterprise software.
- Notable Investments: Pure Storage, Snowflake, Sumo Logic.
- Altimeter Capital
- Details: Altimeter Capital is a venture capital and private equity firm that invests in technology companies. They participated in Clumio's Series D funding round.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: Uber, Snowflake, Roblox.
- Index Ventures
- Details: Index Ventures is a global venture capital firm that supports entrepreneurs from seed to growth stage. They have been involved in multiple funding rounds for Clumio.
- Investment Focus Areas: Technology, software, consumer internet.
- Notable Investments: Dropbox, Slack, Robinhood.
- NewView Capital
- Details: NewView Capital is a venture capital firm that focuses on growth-stage companies. They joined as a new investor in Clumio's Series D round.
- Investment Focus Areas: Technology, healthcare, fintech.
- Notable Investments: Plaid, Duolingo, Scopely.
What's Next for Clumio?
Clumio stands at the cusp of significant opportunities, driven by the increasing reliance on cloud services and the growing need for robust data protection solutions. The company is poised to simplify backup and recovery for public cloud customers, addressing technical challenges at scale. With a four-fold increase in annual recurring revenue and the protection of over 100 petabytes of data, the market size is substantial, indicating a deluge of demand.
Future fundraising opportunities seem promising as Clumio continues to expand its services and market reach. The recent $75 million Series D funding round, led by Sutter Hill Ventures, underscores investor confidence. As the company accelerates innovation and expands its customer base, additional rounds of funding could support further growth and technological advancements.
However, Clumio may face challenges such as competition from legacy vendors and other cloud data protection providers. Managing the complexity and cost of backup and recovery at public cloud scale, while ensuring continuous innovation, will be crucial. The rapidly evolving technology landscape and cybersecurity threats also pose significant hurdles. Nonetheless, Clumio's focus on enhancing product offerings and market reach positions it well for future success.
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