Hybrid Cloud Up Time (HYCU), a Boston, MA-based pioneering enterprise BaaS company specializing in hybrid cloud and multi-cloud data backup and recovery as a service, announced that it raised $53 million in Series B.
The round was led by Acrew Capital. All Series A investors returned, including Bain Capital Ventures (BCV). Strategic investors and innovation leaders Atlassian Ventures and Cisco Investments also participated in the round.
Funding will help accelerate several key go-to-market initiatives to support significant demand in HYCU’s multi-cloud data protection solutions across on-premises and public cloud environments, including bringing to market a new developer-led SaaS service.
Company: HYCU, Inc.
Raised: $53.0M
Round: Series B
Funding Month: June 2022
Lead Investors: Acrew Capital
Additional Investors: Bain Capital Ventures (BCV), Strategic investors, Atlassian Ventures, and Cisco Investments
Company Website: https://www.hycu.com/
Software Category: Multi-Cloud Backup and Recovery
About the Company: HYCU is the fastest-growing leader in the multi-cloud backup and recovery as a service industry. By bringing true SaaS-based data backup to both on-premises and cloud-native environments, the company provides unparalleled data protection, migration, and disaster recovery to more than 3,100 companies worldwide. HYCU’s award-winning, purpose-built solutions eliminate the complexity, risk, and high cost of legacy-based solutions, providing data protection simplicity in a hyper-connected, multi-cloud world. Customers experience frictionless, cost-effective data backup and recovery, no matter where their data resides.
Source: https://www.hycu.com/blog/good-day-sunshine-hycu-raises-53m-series-b