As the amount of information that companies generate continues to increase, so does the need for data protection. Druva Inc. is cashing in on that demand.

The company, which sells cloud-based services for backing up and managing corporate files, today announced that it has closed a hefty $80 million funding round led by Riverwood Capital. Sequoia Capital India, Nexus Venture Partners and several other previous backers joined in. The investment caps an already fruitful year for Druva that the company claims saw sales more than triple on an annualized basis.

Druva sells what it calls data management as a service, combining data from endpoints, servers and cloud applications into a single repository that can be managed centrally for backup, data protection, governance and intelligence. The company said its approach is unique in that it requires no special hardware or agents and uses the cloud to create a central data set for all of an organization’s information. The epidemic of ransomware attacks, as well as the impending arrival of the General Data Protection Regulation in Europe, have helped juice sales this year.

Druva’s one-click restore feature addresses ransomware’s data destruction potential by providing data recovery without the need for a connection to a network. “There’s no risk of ransomware crawl,” said Chief Marketing Officer Matt Morgan. “People can feel confident that they’re immune to ransomware.” The company also applies machine learning to analyze metadata and spot file changes in advance that might indicate a ransomware attack.

The company generates most its revenue from two products. Phoenix, the first service, provides the ability to regularly back up records from on-premise infrastructure to the cloud and quickly recover them in the event of an outage. According to Druva, the platform can help organizations reduce data protection costs by up to 60 percent.

InfoSync, the other service, is designed to protect files stored in employee devices and cloud services. Besides providing backup capabilities, it also monitors how employees access sensitive data such as credit card numbers for potential policy violations. Administrators can quickly search for records through a search console to ensure that compliance requirements are met.

Druva said it will invest the funding in research and development, as well as in expanding its international sales force. “We have roadmap requirements for integration with enterprise systems. That’ll be top of mind,” Morgan said.

Druva’s products help protect over 40 petabytes of information at about 4,000 organizations. Notable adopters include Fujitsu Ltd., Deloitte Ltd. and the National Aeronautics and Space Administration. Founded in 2008, the company has raised nearly $200 million to date, including a $51 million round less than a year ago. The latest $80 million infusion was “opportunistic,” Morgan said. “We weren’t looking for this particular round, but there’s a been an explosion of investment in this area.” He said there are no immediate plans for an initial public offering and that “we see no reasons why we’d need to raise additional money.”

Enterprise Editor Paul Gillin contributed to this report. 

Image: Druva