Hybrid Cloud Up Time (HYCU), a Boston, MA-based pioneering enterprise BaaS company specializing in hybrid cloud and multi-cloud data backup and recovery as a service, announced that it raised $53 million in Series B.

The round was led by Acrew Capital. All Series A investors returned, including Bain Capital Ventures (BCV). Strategic investors and innovation leaders Atlassian Ventures and Cisco Investments also participated in the round.

Funding will help accelerate several key go-to-market initiatives to support significant demand in HYCU’s multi-cloud data protection solutions across on-premises and public cloud environments, including bringing to market a new developer-led SaaS service.  

Company: HYCU, Inc.

Raised: $53.0M

Round: Series B

Funding Month: June 2022

Lead Investors: Acrew Capital

Additional Investors: Bain Capital Ventures (BCV), Strategic investors, Atlassian Ventures, and Cisco Investments

Company Website: https://www.hycu.com/

Software Category: Multi-Cloud Backup and Recovery

About the Company: HYCU is the fastest-growing leader in the multi-cloud backup and recovery as a service industry. By bringing true SaaS-based data backup to both on-premises and cloud-native environments, the company provides unparalleled data protection, migration, and disaster recovery to more than 3,100 companies worldwide. HYCU’s award-winning, purpose-built solutions eliminate the complexity, risk, and high cost of legacy-based solutions, providing data protection simplicity in a hyper-connected, multi-cloud world. Customers experience frictionless, cost-effective data backup and recovery, no matter where their data resides.

Source: https://www.hycu.com/blog/good-day-sunshine-hycu-raises-53m-series-b