Elastio Closes $18M in Series A Funding to Revolutionize Cloud Cyber Recovery

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Jun 14, 2023, 23:06 ET

RESTON, Va., June 14, 2023 /PRNewswire/ -- Elastio's unique, cloud native recovery assurance platform bridges the gap between data protection and cybersecurity in the cloud. The solution mitigates the risks left by threats that evade perimeter security tools and the inability of backups to recover due to the presence of ransomware, malware, or corruption. At a time when many organizations are focused on cloud cost optimization, Elastio customers are pleased to note that not only does Elastio improve their security posture, but they are also realizing up to an 80% reduction in storage costs, often rendering the Elastio platform as budget positive in as little as 90 days.

"The level of confidence we have in knowing we can recover by deploying Elastio made it a no-brainer decision," says TJ Schoessow, SVP of Technology & Business Systems at CARET. "There is not another AWS native product providing the level of protection that Elastio is. It took less than 15 minutes to deploy and another hour or two to configure. We're seeing savings due to the global deduplication and compression capabilities, but more importantly, we're all sleeping better at night."

Elastio today announced an oversubscribed $18 million Series A investment led by Venture Guides, new investors Capri Ventures, and Alumni Ventures, with strong participation from existing investors Bain Capital Ventures and Uncorrelated Ventures.

"There is a fundamental shift in the market ensuring data integrity, cyber protection, and continuous recoverability for customers' cloud operations," says Ben Nye Managing Partner at Venture Guides. "Elastio has built a game-changing cloud native complement for AWS customers recognizing that backing up data and deploying perimeter security tools is no longer enough to ensure uninterrupted business operations."

"This significant investment validates our mission to revolutionize cyber recovery in the cloud and protect our customers from the massive implications of not being able to recover their data," said Najaf Husain, CEO of Elastio. The latest funding will fuel Elastio's aggressive customer growth plans, including ramping up the number of AWS services it protects, introducing new data integrity features, and enhancing customer workflows with generative AI.

Elastio's cloud native technology has already garnered significant attention within the industry, attracting a diverse range of customers, including Fortune 500 companies and innovative startups. The company's unique approach to cloud data security is disrupting traditional cloud data security practices and enabling businesses to limit financial risk, data loss, downtime, and brand risk caused by compromised data. Elastio does this by identifying, remediating, and recovering data infected with ransomware, malware, or corruption.

About Elastio:
Elastio's recovery assurance platform protects data from threats evading perimeter defenses and mitigates downtime, data loss, and reputational harm for businesses. Engineered for the cloud with agentless architecture, Elastio continuously monitors mission critical data to detect compromises that impact recoverability. Elastio deploys in fifteen minutes, provides best-in-class application protection and recovery, and delivers immediate time-to-value.

About Venture Guides:
Venture Guides is an early-stage firm offering a unique investing and operating approach that helps startups with product management and commercialization strategies in the infrastructure software domain. The firm's transparent and team-based approach delivers entrepreneurs consistent yield and strong profit performance. Forbes Midas List and Inc. 5000 rankings have recognized the performance-driven achievement of Venture Guides' partners multiple times. "We are guides for growth."

Kathie Clark
Elastio
1-833-435-2784
[email protected]

SOURCE Elastio