With new funding round, cloud backup vendor OwnBackup to target Microsoft Dynamics 365

Cloud data protection platform OwnBackup announced a Series E investment round of $240 million, co-led by Alkeon Capital and B Capitol Group.

The new funding comes as the company plans to target more SaaS platforms, starting with Microsoft Dynamics 365.

The first Dynamics 365 integration is expected later in 2021, according to a statement from the company. The offering will "allow companies to maintain complete ownership of their data backups, rapidly restore lost or corrupted data, and drive greater organizational adoption of Microsoft Azure and Dynamics 365," the company stated.

"While the cloud is crucial to doing business, the mass adoption of SaaS has resulted in a huge amount of data, and our work with Salesforce, Microsoft and other critical SaaS ecosystems enables companies to thrive in today’s digitally driven world,” said Sam Gutmann, CEO of OwnBackup. “The story of every business is written with data, and this latest round of funding will support our ongoing vision to empower our customers to own and protect their data on any cloud platform."

“We’re pleased to partner with OwnBackup and give Dynamics 365 customers an additional layer of protection for their data,” said David Totten, Chief Technology Officer at Microsoft. “By enabling organizations to automate the backup process and restore the precise data they need in minutes, OwnBackup’s solutions will help Dynamics 365 customers run more business-critical workloads while eliminating the risk of data loss.”

The company has built much of its success around cloud backup in the Salesforce ecosystem, and Salesforce Ventures is one of the company's investors in this round and previously. ...