Clumio raises $135 mn in Series C funding

A two-year-old cloud-security start-up that helps corporations with data protection, Clumio Inc. Has raised $135 million in a Series C funding round.

The Santa Clara, Calif.-based company said the new fundraising was led by Mike Speiser, managing director of Sutter Hill Ventures and new investor, Altimeter Capital Management. Clumio has till date raised a total of $186 million so far.

The funding backs the growing demand for what’s known as software as a service, or SaaS, which allows customers to use software without installing it on their own computers or building their own data centres.

Poojan Kumar, chief executive officer and co-founder said, “In data protection, we are taking a Salesforce-type of approach instead of an Oracle-like one. Next-gen enterprises are going to be built entirely on the cloud and data will be their most valuable asset.”

Clumio has its development centre in Bangalore. He played national-level, competitive chess before heading to the Indian Institute of Technology and then getting a masters degree in computer science from Stanford University.

Kumar is one of Clumio’s two Indian-origin co-founders of its total three. He further said that the funding would help accelerate the growth of its engineering team in Santa Clara and its new development centre in Bangalore, as well as expand its market and service operations.

The start-up has about 100 employees, and its customers are in insurance, health care and banking.