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Clumio raises $75M to automate cloud data backup and recovery
Clumio, a data backup and recovery provider for companies using the public cloud, has raised $75 million in a Series D round of funding. The raise comes
The raise comes as the Santa Clara, California-based company claimed a four-fold increase in annual recurring revenue (ARR) last year, driven by new customers such as Atlassian which is now using Clumio for the cloud-based incarnation of its Jira project management software. 2023 was a hotbed of ransomware activity, with prolific gangs such as Russia-linked Clop exploiting software vulnerabilities to target hundreds of organizations, from hospitals to banks, universities and airlines. While startups’ funding typically increases as they move through their rounds, Clumio’s latest cash injection sits at almost half its 2019 raise — a clear reflection of how the world’s economic landscape has shifted in the intervening years.
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