Who’s Funding Clumio?
The startup launched out of stealth with $51 million in funding over two rounds. Sutter Hill Ventures led a Series A round, while the Series B round was driven by Index Ventures with significant participation from Sutter Hill Ventures. Several individual investors experienced in disruptive technologies also participated including, Mark Leslie, founder of Veritas Technologies; and John Thompson, chairman of the board at Microsoft.
Kumar told CRN that the funding went towards major R&D and engineering. “This is not something easy to do in terms of multiple disciplines coming together to deliver a SaaS solution like this,” he said. The funding is now being shifted towards ramping up Clumio’s go-to-market efforts in the U.S.
The startup still has the majority of its $51 million funding in its wallet. “We have spent a very small fraction of that $51 million overall,” Kumar said.