Recession could drive further demand for digitalisation, says Druva CEO Jaspreet Singh

Cloud data protection provider Druva said that while some of the growth seen during the pandemic had started to taper, any slowdown in economic activity could result in another wave of digitalisation, boosting demand for cloud-based services.

“There is a slowing down in demand. One reason is because of the supply chain issues a lot of enterprises are prioritising buying hardware and delaying the cloud buys,” said Jaspreet Singh, CEO, Druva. “If there is a slowdown in the economy, I think that digitalisation will happen faster, and there will be a shift from capex to opex and moving systems to the cloud.”

Druva had raised $147 million in April 2021 at a valuation of more than $2 billion, and is likely to go in for a public offering soon.


Singh said the company will wait for the US markets to improve before deciding on when to go ahead with its initial public offering. "We will continue to monitor market and industry conditions…,” he said.

According to Singh, the company remains focused on working with cloud-first enterprises, where it could provide end-to-end managed services for their data protection and management needs.

Druva has been seeing demand increase from verticals like life sciences and manufacturing. “We’ve seen that any enterprise which is distributed in nature and is working on intellectual property is more likely to adopt the cloud for security,” he said.

Having established itself in the data protection space, Druva is now working on how it can use the data it has access to to inform clients about potential data breaches, and how they can recover faster. For this, it launched its data observability platform earlier this year.

Earlier this month, the company introduced a data resiliency guarantee of $10 million for customers. “It’s not a marketing event. We actually explained to the customer step by step saying what are the possible risks to your information and how we can safeguard it,” said Singh.

While the US remains the primary focus market, Druva is signing on more customers in India and is strengthening its go-to market teams here.