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HYCU Raises $53 Million for Knowledge Backup Expertise

By Ionut Arghire on June 13, 2022

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Backup-as-a-service agency HYCU has raised $53 million in a Sequence B funding spherical that brings the whole invested within the firm to $140.5 million.

The brand new funding spherical was led by Acrew Capital, with participation from all earlier traders, together with Atlassian Ventures and Cisco Investments.

Based in 2018, the Boston, Massachusetts-based HYCU sells expertise that helps organizations defend their information no matter whether or not it’s scattered throughout a number of cloud providers or each within the cloud and on-premises.

The corporate mentioned the brand new funding can be used to spend money on go-to-market initiatives to fulfill growing demand for its merchandise. It can additionally spend money on launching a brand new developer-led SaaS service. As well as, the corporate plans to broaden alliances, product advertising, and buyer success groups.

“Amidst the present financial local weather, the explosion of knowledge belongings and the excessive worth of knowledge, we’ve seen HYCU rise as the important thing means of simplifying the multi-cloud information safety expertise together with a robust option to deal with ransomware safety and restoration,” Theresia Gouw, cofounder of Acrew Capital, mentioned.

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