Veeam leads funding round for SaaS backup provider Alcion | TechTarget
Summary
Recently out-of-stealth Alcion secured a $21 million funding round led by the fellow backup vendor that acquired its founders last startup. In 2020, Veeam acquired Kubernetes backup and recovery provider Kasten, which was founded by Niraj Tolia and Vaibhav Kamra, who are now the CEO and CTO of Alcion, respectively. The funding supports the general availability and go-to-market expansion of Alcions backup-as-a-service platform for Microsoft 365 and the future protection of other SaaS services. "While all startups always explore avenues for collaboration and strategic growth, our primary aim at this point is to focus on the actions that best serve our customers and tackle the growing cyberthreat problems they are exposed to," Tolia said. Veeam declined an interview for this article, but CTO Danny Allan said in a press release that helping customers fight cyber attacks such as ransomware will take an industrywide effort.