Alcion, a San Francisco, CA-based modern data management startup, announced $8 million in seed funding and the public preview of its AI-driven Backup-as-a-Service (BaaS) platform.
The round was from several notable angel investors, including Lip-Bu Tan, Chairman of Walden International and Intel Board Member; Abhinav Asthana, CEO and founder of Postman; Debanjan Saha, CEO of DataRobot; and Amarjit Gill, a serial entrepreneur, and investor at Nepenthe Capital.
The funds will be used to support the development and expansion of Alcion's AI-driven Backup-as-a-Service (BaaS) platform.
Developed with a product-led and community-driven focus, Alcion provides Microsoft 365 admins with an easy-to-use, intelligent, and secure SaaS platform to protect against ransomware, malware, corruption, and accidental data loss.
Alcion provides comprehensive data protection using a modern and security-focused architecture that includes predictive Recovery Point Objective (RPO) reduction, integrated threat detection, and response algorithms.
“We are thrilled to announce our market entry with a fully-managed AI-driven backup service for Microsoft 365 users,” said Niraj Tolia, CEO and co-founder. “This significant round of funding allows us to exit stealth mode, take our modern BaaS product to market, expand our community, and accelerate product development.”
Company: Alcion, Inc.
Raised: $8.0M
Round: Seed Round
Funding Month: May 2023
Lead Investors:
Additional Investors: Lip-Bu Tan, Abhinav Asthana, Debanjan Saha, and Amarjit Gill
Company Website: https://www.alcion.ai/
Software Category: AI-driven BaaS platform
About the Company: Founded in 2022 by Niraj Tolia and Vaibhav Kamra, Alcion is an AI-driven company that is solving data-management challenges faced by companies storing data in the cloud, including protection against ransomware and malware, disaster recovery, and accidents. The company’s mission is to protect all the world's data against both malicious threats and accidents, and we are building a company to accomplish this with community and intelligence as the foundational building blocks.
Source: https://www.businesswire.com/news/home/20230531005291/en/Alcion-Emerges-from-Stealth-with-AI-Driven-Backup-as-a-Service-Platform-for-Microsoft-365