OwnBackup Raises $7.5 Million for Growth
The data protection startup plans to double its headcount after recording 330% revenue growth in 2016.
Updated on Oct. 15, 2026 in Startups
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OwnBackup has raised $7.5 million in a Series B funding round to accelerate its research and sales expansion. The startup, which provides data protection services, reported 330% revenue growth in 2016.
Why it matters
The investment supports the company's objective to maintain a 300% annual growth rate as it scales its operations in New Jersey and Israel. It marks a significant capital infusion for the 400-customer strong firm, bringing its total funding to $11 million.
OwnBackup currently supports 400 customers with a team of 30 employees. The company plans to double its headcount to 50 or 60 staff members over the next 12 months.
The players
OwnBackup
A startup providing cloud-based data backup and recovery services for enterprise software platforms.
Insight Venture Partners
A venture capital and private equity firm that led the funding round and previously acquired Spanning Cloud Apps.
Nicolas Wittenborn
An investor from Insight Venture Partners who is joining the OwnBackup Board of Directors.
The details
OwnBackup provides cloud-based data protection and recovery services for enterprise platforms. The company intends to deploy the new funding to hire staff for its sales and marketing teams in New Jersey, while expanding its research and development operations based in Israel.
Timeline
January 2016: OwnBackup secured its first round of funding.
April 2016: Insight Venture Partners acquired Spanning Cloud Apps.
2016: OwnBackup recorded 330% year-over-year revenue growth.
October 15, 2016: Funding news reported.
Next 12 months: Company plans to increase headcount to 50-60.
The Tech Race
This investment follows the acquisition of Spanning Cloud Apps by lead investor Insight Venture Partners earlier this year. It signals a move to solidify control within the data protection software sector by backing a fast-growing competitor.
Enterprise users of cloud platforms can expect the firm to expand its sales and support infrastructure over the coming year. The company will focus on integrating new research developments into its existing suite of backup products.
The takeaway
The company's trajectory hinges on scaling its workforce from 30 to 60 employees while maintaining its 300% annual growth target. Market observers should watch for potential expansion of the firm's service offerings as the new R&D hires begin to influence the product roadmap.
Further reading
For more on emerging firms, see the latest in Startups.
Source note: This article includes information reported by TechTarget.
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