HYCU secures 53 million USD to bolster its multi-cloud data security service

HYCU secures 53 million USD to bolster its multi-cloud data security service

HYCU, Inc., a provider of hybrid cloud and multi-cloud data backup and recovery as a service, has raised 53 million USD in a Series B investment round led by Acrew Capital, which it plans to utilize to address demand for multi-cloud data protection solutions in on premise and public cloud environments. 

The company’s flagship product, is a backup-as-a-service solution that allows businesses to back up apps, virtual machines, and databases in air-gapped cloud storage. 

The organization’s financing comes as the cloud backup market continues to develop, with analysts projecting a value of 4229.3 million USD by 2026, up from 1834.3 million USD in 2019.

Read More: https://venturebeat.com/2022/06/09/hycu-cloud-data-protection/

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