Backupify Lands $9M in Series C Funding

Backupify was recently on the receiving end of great news as they gain $9 million in Series C funding. This particular round was participated in by Symantec Corp. as well as Lowercase Capital, Avalon Ventures and General Catalyst Partners.

The company’s CEO, Rob May, shares more about this recent funding and more in this e-interview with Lead411:


Who are your competitors and how are you different from them?

Spanning Backup and CloudAlly.  We are different in that we have an enterprise grade backup system.  We handle heavier customer loads and more data than our competitors, and we offer a 99.9% SLA on completed backups.  No one else can match that.  Our application is designed for enterprise customers, and our target market is companies with 1000 or more employees.
What percentage of your marketing budget are spent on the following?

A.      Advertising – 10%
B.      Social Media Marketing – 5%
C.      SEO – 10%
D.      PR – 10%
E.      Direct Marketing – 50%
F.      Other – 15%

What marketing tactic has given you the highest ROI? What percentage ROI do you get back on this?

Direct marketing has the highest ROI.  We have about a 4 month payback on customer acquisition cost from that.

What do you plan to spend your new funding on? Product development? Marketing?

Seventy percent will go to scaling sales and marketing.  The rest will go to new product development.
If this is your first round of financing and you’re the CEO, how many hours did you put into working on getting your financing? Was that taking up the most of your day?

This is my 4th round of funding as CEO.  Raising money took up about 80% of my time for the past 6 months.

If you are the CEO, what are your biggest challenges?

Implementing the right corporate culture.  Hiring  the  right people.
How many employees do you have?

31
When were you founded?

2008
How much did you revenue increase (if any) this year over last year?

In 2011 revenue grew 7x.  We are on track to grow revenue 5x in 2012.

Want to learn more about the company’s recent funding? Check out their press release here.