FRAMINGHAM, Mass.--(BUSINESS WIRE)--Trilio, a leading provider of data protection for cloud-native environments, today announced that it has secured $15 million of funding. Led by SKK Ventures, the round includes participation from Plug and Play and existing investors .406 Ventures and Jack Egan. The funding includes $12 million in Series B growth equity combined with a $3 million+ debt facility from Avid Bank.
The company will use the funding to expand its go-to-market capabilities to accelerate adoption in the cloud-native market while providing an exceptional experience for its growing base of customers and partners. Trilio will further invest in its product development, sales, marketing and customer success teams to bring the TrilioVault cloud-native data protection platform to markets across the globe.
“We’re pleased to close this round of funding with a committed group of investors that bring operational expertise in scaling enterprise software organizations,” said David Safaii, CEO of Trilio. “The cloud and Kubernetes containers are presenting new data management challenges around scale, performance and mobility that legacy backup products simply cannot support.”
“Trilio offers a modern, cloud-native approach that protects the application’s data and metadata across any hybrid- or multi-cloud environment across any Kubernetes-based distribution,” Safaii added. “We’re excited to bring our unique value to more customers looking to address requirements for Kubernetes backup and recovery, migration, DR and application mobility.”
About the Investors and New Board Member
The SKK Ventures platform, a division of Boston-based investment firm Shepherd Kaplan Krochuk, actively invests in the life sciences and technology sectors. SKK Ventures partners with exceptional entrepreneurs developing promising technology platforms with the potential to present a value inflection point.
“Trilio checks all of our boxes,” said Stephen Brackett, President and Managing Member of SKK. “It has demonstrated success in establishing a differentiated market position in data protection for open infrastructure that is backed by a strong IP portfolio and management team. The company has built the TrilioVault platform for this new cloud and Kubernetes era and is ready to extend its market reach. Trilio’s technology, team and partner ecosystem will help it execute its business plan in this new and fast-growing market segment.”
Mr. Brackett has joined the Trilio Board of Directors.
“We’ve had a long relationship with the Trilio team, having led the Series A,” said Greg Dracon, Partner at .406 Ventures. “Trilio’s platform is being used to protect some of the world’s most demanding private cloud infrastructure deployments. The company has now extended its value into the Kubernetes market with a unique cloud-native architecture offering application-centric data protection across hybrid- and multi-cloud environments, which is a rapidly growing and critical need. We’re excited to support the company’s next phase of growth.”
Despite challenges related to the COVID-19 pandemic, Trilio has achieved a series of milestones this year. The company recently announced TrilioVault for Kubernetes v2.0, including a unique management console for multi-cloud data protection and was named a Leader and Outperformer by a GigaOm report on Kubernetes Data Protection.
Additional highlights include:
- TrilioVault for Kubernetes Now Available with IBM Cloud Paks on Red Hat Marketplace
- Cloud-Native Data Protection Provider Trilio Achieves 300%+ Growth in 1H 2020
- Trilio Recognized in Gartner Hype Cycle for Storage and Data Protection Technologies
- TrilioVault for Kubernetes Achieves Red Hat OpenShift Operator Certification
- D2iQ’s Will Freiberg Joins Trilio Board of Directors
About Trilio
Trilio is a leader in cloud-native data protection for Kubernetes, OpenStack and Red Hat Virtualization environments. Our TrilioVault technology is trusted by cloud infrastructure operators and developers for backup and recovery, migration and application mobility. Customers in telecom, defense, automotive and financial services leverage TrilioVault to recover from disasters, migrate workloads, move workloads to new infrastructure and migrate to new software distributions. www.trilio.io, Twitter and LinkedIn.