Data security solutions provider Dhruva raises $25 million

NEW DELHI: Data security solutions provider Dhruva today said it has raised $25 million (about Rs 154 crore) from a group of investors led by Sequoia Capital.

The California-headquartered firm will utilise the funds for research and development (R&D) of its product portfolio and expansion in global markets.

The company in a statement said it has completed "$25 million in Series D funding from Sequoia Capital, Nexus Venture Partners and Tenaya Capital."

The Sequoia-led round comes 10 months after $25 million Series C installment from the same investors, bringing the total venture capital investment in Dhruva since 2010 to $67 million, it added.

Since the last round in October 2013, Dhruva's enterprise customer base has increased from 2,100 to 3,000 with 2.8 million devices in 76 countries now under protection.

New customers gained during the period included Dell, Hitachi, Kronos, Pfizer, Reckitt Benckiser, RHI and Shire drawn by its solution inSync's integration of automated endpoint backup, data loss prevention, IT-managed file sharing and data governance tools, the firm said.

"The Series D funding will underwrite R&D for new inSync enhancements, diversification of the Dhruva product portfolio, and further expansion into global markets," Dhruva added.

Dhruva's solutions for managing data outside the corporate firewall helps reduce the loss of corporate information assets and address organisations' compliance, governance, forensics and eDiscovery needs.

The privately-held firm is backed by Nexus Venture Partners, Sequoia Capital and Tenaya Capital.