Cloud data protection firm OwnBackup nears $3.35 billion valuation

US-Israeli cloud data protection firm OwnBackup said on Tuesday it raised $240 million in a late-stage funding round to bring its valuation to near $3.35 billion.

The round was co-led by Alkeon Capital and B Capital Group, and included a secondary investment in the company by BlackRock Private Equity Partners and Tiger Global. Existing investors Insight Partners, Salesforce Ventures, Sapphire Ventures, and Vertex Ventures also participated.

OwnBackup has raised a total of nearly $500 million, while also announcing plans to expand its backup and recovery solutions across other cloud platforms later this year, beginning with Microsoft.