Silicon Valley operation buys Donegal IT company CloudRanger
Co Donegal software business CloudRanger has been sold to a Silicon Valley company for an undisclosed sum.
The purchaser is Druva — itself in existence since 2008 —which has raised around $200m (£149m) from investors including the venture capital giant Sequoia.
CloudRanger provides IT back-up and disaster recovery services. Druva said the Letterkenny-based business “simplifies management and reduces costs” for companies looking to keep their data safe.
As more and more business is done online, the companies are hoping to reap the benefits from customers who have more complex requirements when it comes to storing data.
The Irish business has more than 300 customers, including American motor racing competition NASCAR and Vanderbilt University, and experienced 300% revenue growth in the last six months, according to Druva.
CloudRanger had previously been backed by Enterprise Ireland (EI), a state body in the Republic that supports indigenous companies in their efforts to grow in foreign markets.
CloudRanger announced a $1.1m seed round last September, with EI contributing alongside private investors.
At the time EI said that CloudRanger “offers an innovative solution to companies to help them be successful in the cloud and is a great example of how innovation can drive an early stage growth company”.
Druva, which provides protection services for data stored in the cloud, said the acquisition would significantly expand its platform.
“This is an important step in achieving our vision to provide a solution that addresses the challenges our customers face as part of the very real and necessary journey of moving to the cloud,” Druva’s founder and chief executive Jaspreet Singh said.
CloudRanger is the brainchild of chief executive David Gildea.