The Beatles of Backup: A New Milestone for HYCU
Last night, I watched Paul McCartney play before a packed Fenway Park in Boston. As you can imagine, he’s more than just an icon in the music industry. He captivated everyone there, including me. I was reminded of a recent comment someone made to me at an investment conference in New York City: “I’ve heard of HYCU, you guys are the Beatles of Backup.” Reflecting on how far we’ve come as a company in such a short time, hearing comments like that is truly memorable.
Celebrating HYCU’s Series B: $53M Raised
Fast forward to today, and I’m incredibly proud of another milestone for all of us at HYCU. We’ve raised $53M in Series B funding, bringing the total raised to $140M in just over a year. This achievement is significant for several reasons, which I’m excited to share.
Strategic Investors: Atlassian Ventures and Cisco Investments
Our Series B introduces two new strategic investors: Atlassian Ventures and Cisco Investments. Atlassian, known for their Product Led Growth strategy, will play a crucial role in HYCU’s mission to eliminate data silos and provide end-to-end data protection across on-prem, cloud, and SaaS applications. With Cisco Investments, we share a similar vision of transforming IT functions into cloud services. Their recognition of our multi-cloud data protection solutions further strengthens the opportunity to collaborate on future initiatives.
Investor Confidence Despite Economic Turbulence
The current economic climate has left many companies feeling uneasy, but HYCU’s ability to secure this significant funding round—backed by both new and existing investors like Acrew Capital and Bain Capital Ventures—is a strong testament to our success over the past year. The commitment of these investors ensures that we continue the path toward becoming an iconic business in Backup as a Service, Resiliency as a Service, and the broader Data Protection industry.
Welcoming Theresia Gouw to HYCU’s Board
Another exciting aspect of this announcement is the addition of Theresia Gouw, cofounder of Acrew Capital, to the HYCU Board of Directors. Theresia’s innovative thinking and past successes, including being an early investor in Facebook, make her a valuable asset to our team. I am honored to welcome her and look forward to the insights she’ll bring as we continue to grow.
What This Means for HYCU’s Future
In one word: focus. With this new investment, the addition of strategic partners, and a clear path forward, HYCU is more well-resourced than ever to continue executing our vision. The challenges in the global market won’t distract us; instead, they reaffirm the importance of what we are building—a ubiquitous platform that ensures seamless data protection across the world.
Further Information
- Official press release: HYCU® Secures $53 Million Series B to Fuel Hypergrowth for New SaaS-based Service
- Gartner Magic Quadrant for Enterprise Backup and Recovery: See why HYCU has been recognized as a Visionary for three consecutive years.
- Research: State of the SaaS Data Protection
- HYCU R-Cloud #1 SaaS Data Protection Platform | Brochure
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