HYCU locks down additional funding to grow its cloud data protection business

Hybrid Cloud Up Time (HYCU), a self-described “backup-as-a-service” company for customers managing hybrid and multi-cloud environments, today announced that it raised $53 million in a “majority equity” Series B round led by Acrew Capital with participation from Bain Capital Ventures, Atlassian Ventures, and Cisco Investments. In an email interview with TechCrunch, CEO Simon Taylor said that the proceeds will be put toward expanding HYCU’s 300-person team with a particular focus on customer success and partnerships as well as funding the development of new products

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