Trilio, the Kubernetes data protection startup, has bagged $15m in funding, including $12m in B-series round and $3m in debt finance. The funding mix suggests that the company is still in the “you have a lot to prove” stage.
Trilio will invest the money in product development and sales and marketing to take its software to global markets. Competition is intense and it sees the need to grow quickly.
CEO David Safaii said in a statement: “We’re pleased to close this round of funding with a committed group of investors that bring operational expertise in scaling enterprise software organisations… We’re excited to bring our unique value to more customers looking to address requirements for Kubernetes backup and recovery, migration, DR and application mobility.”
Trilio began life in 2013 to provide data protection for Kubernetes-orchestrated stateful containers with its TrilioVault product. It is classed as a leader in the November 2020 GigaOm Radar for Kubernetes Data Protection report. The company said it experienced 300 per cent revenue growth in the first half of 2020, but without a base line, that is a meaningless figure.
Competing startups Portworx and Kasten were acquired by Pure Storage and Veeam earlier this year, for $370m and $150m respectively. This makes Trilio and fellow startup Robin.io potential acquisition targets for established data protection suppliers that lack cloud-native data protection technology.
The Trilio round was led by SKK Ventures, with participation from Plug and Play and existing investors .406 Ventures and Jack Egan.