In life, we come across several moments such as good, bad and ugly. Life is a series of choices and the little decisions that we make determine our destiny. There are many different ways to become rich. If you are born rich, then it is the easiest way to become rich. If you marry a rich person, you would reap the benefits and become rich overnight. These cases don’t really impress or inspire anyone but if you touch the pinnacle of success by virtue of hard work, willpower, long-term vision, you will be respected and admired by everyone.
Today, we will learn about the success story of Jaspreet Singh who has earned an income in millions through his startup. Named as Druva, the B2B Indian tech startup turned out to be a massive blockbuster in July this year, as the company had announced that it has surpassed $100 million in annual recurring revenue (ARR). The startup was set up in the year 2008 by Jaspreet Singh and Milind Borate. The development centre of the startup in the country is based in Pune.
The company aims to provide cloud data protection and management through a SaaS model. As per the company, the organisation has earned triple the times of the annual revenue in three years. “There is only one technology capable of keeping pace with today’s demands for rapid innovation, on-demand scalability, robust security, and sheer compute power – cloud,” Jaspreet Singh, Founder and CEO of Druva added.
According to Druva, the growth saw a staggering rise by an increased cloud adoption and a shift to SaaS delivery for data protection. Many customers rely on Druva in order to protect data centre workloads which has increased by 70% in a year. “Today, more than 600 customers rely on Druva to protect data centre workloads, a number that has grown by 70 per cent in a year,” the company added.
Now, Druva serves more than 10 per cent of the Fortune 500 companies including Flex, Hitachi, Live Nation, Marriott, and Pfizer. According to Druva, the shift to cloud as the de-facto environment for business will only increase in the years to come. The Indian start-up which was built entirely on Amazon Web Services (AWS), it is helping companies successfully enter the cloud era through simple data protection and management.
Druva has secured $328 million in funding so far. The startup has now raised $130 million in its Series G round in July 2019, which earned unicorn status. It should be noted that the key investors in the company are Sequoia Capital, Viking Global Investors, Tenaya Capital, Riverwood Capital, and Nexus Partners. Previously this year, Druva had opened new global headquarters in Sunnyvale, California, and a new regional office in Singapore.