Cloud-based data backup and recovery-as-a-service provider HYCU Inc. today announced a second dose of venture capital funding, just 15 months after closing on its previous round of financing.

The company said it has closed on a $53 million Series B round led by Acrew Capital, with participation from all of the investors in its Series A round, including Bain Capital Ventures. Others, including Atlassian Ventures and Cisco Ventures also participated while showing interest in possible future technology collaborations with the company.

The round brings HYCU’s total amount raised to date to $140.5 million.

HYCU sells a multicloud data backup and recovery platform called HYCU Protégé that an alternative to the traditional, legacy-based services that rely on complex, appliance-based storage systems. The company argues that enterprises today need a simpler data backup and recovery services that covers all of the applications they use across multiple cloud platforms and on-premises architectures.

That’s exactly what HYCU provides. Its data protection offering covers Nutanix-based data centers as well as VMware, Amazon Web Services, Microsoft Azure and Google Cloud environments. It also offers a lightweight and cost-effect cross-cloud migration, management and disaster recovery service for applications.

HYCU’s offerings are used by both enterprises that require a simple and reliable data backup solution, and also by software-as-a-service providers that need to reassure customers about how their information is being protected. For SaaS firms, HYCU said it offers granular recovery capabilities that can support individual file systems and networks. With HYCU, SaaS firms can easily integrate enterprise-grade data protection into their services, the company explained.

The simplicity HYCU provides is not lost on customers, if its most up-to-date growth numbers are to be believed. HYCU said today that it has tripled its revenue over the last 12 months with year-on-year bookings growth of 150%, while maintaining a 135% net-retention rate over the same period. It didn’t reveal absolute numbers.

HYCU founder and Chief Executive Simon Taylor said the average enterprise has more than 130 data silos in use. Because of this, he said, whatever solution they rely on to manage, protect and recover data must be easy to deploy and use.

“HYCU fundamentally believes there is a better way to solve data protection needs, and we are on track to deliver a profoundly simple and powerful solution before the end of the year,” Taylor promised.

Looking to the future, HYCU said it will use the funding from today’s round to continue developing its solution to serve the evolving data and recovery needs of enterprises. It’s also planning to hire “key executives.”

HYCU said it was particularly excited to add Acrew Capital founder Theresia Gouw to its board of directors, noting that her experience in the SaaS industry will be especially valuable in the months ahead.

Gouw said there’s a big need for the simplified, robust data backup and recovery services HYCU provides.

“The rise of multicloud brings an insurgence of ransomware threats,” she said. “Amidst the current economic climate, the explosion of data assets and the high value of data, we’ve seen HYCU rise as the key way of simplifying the multicloud data protection experience, including a powerful way to address ransomware protection and recovery.”

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