Israeli-founded unicorn OwnBackup acquires Nimmetry for India entry

 Israeli-founded unicorn OwnBackup acquires Nimmetry for India entry

Sam Gutmann, CEO of OwnBackup

OwnBackup, a cloud security company that was founded in Israel but is now headquartered in the US, has acquired Nimmetry Inc in a deal that helps it enter the India market.

Nimmetry is based in Santa Clara, California and has a significant presence in Hyderabad, India. It provides a platform to integrate big and small software-as-a-service-based data using a microservices architecture.

“This acquisition accelerates OwnBackup’s multi-cloud strategy. The entrance into the Indian market… marks the continuance of a long-term commitment on OwnBackup’s part to providing industry-leading products and services to help our customers protect their mission critical SaaS data,” said Sam Gutmann, CEO of OwnBackup.

OwnBackup didn’t disclose financial terms of the acquisition.

Nimmetry CEO Srinivas Garikipati said the two companies have “a shared vision” for SaaS data protection as it relates to customers.

Garikipati, who started Nimmetry in 2018, has joined OwnBackup as director of product management. The Hyderabad University alumnus worked with Wipro, Fujitsu and Franklin Templeton before starting Nimmetry.

The acquisition comes about four months after OwnBackup secured a Series D funding of $167.5 million in late January at a valuation of $1.4 billion. The round was jointly led by Insight Partners, Salesforce Ventures and Sapphire Ventures. Existing investors Innovation Endeavors, Vertex Ventures and Oryzn Capital had chipped in, too.

The acquisition of Nimmetry follows the recent purchase of Merlinx in Tel Aviv, Israel, which brought data security experts to the OwnBackup team.

OwnBackup said the two deals solidify its position as a leading provider of cloud services and sets the stage for continued growth.

OwnBackup was founded in 2015. The company is headquartered in New Jersey and has research and development, support, and other functions in Israel, Europe, Middle East and Asia Pacific

It helps nearly 3,000 companies worldwide safeguard critical cloud data, helping prevent data loss caused by human errors, malicious intent, integration errors, and rogue applications.

The company’s growing list of customers include Aston Martin, Delivery Hero, the Make-A-Wish Foundation, Medtronic, Singapore Economic Development Board, the University of Miami, Alstom SA, Boston Dynamics, Crocs, USA Cycling and Zoom.

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