Cloud data protection and management product company Druva has opened its Product Development Centre in Pune.
The company plans to hire 1,000 people in the next two years.
Druva was founded in Pune, but quickly shifted its base to Sunnyvale, California as it was finding it difficult to raise money here in India.
At that time, investors were more interested in tech companies instead of a product company like Druva. The company even faced hurdles in getting their ‘Made in India’ enterprise software product accepted in the market.
But shifting to US, Druva was able to scure an investment by Sequoia Capital first and more venture funds later on.
As a result, the company grew 60 percent and even reached a valuations close to $1 billion.
The company hopes to start its IPO next year.
The company has even moved its sales and marketing to US and has acquired 4,000 enterprise customers including some big names like Siemens, NASA, Xerox, Deloitte, Aspen, Zoetis, amongst others.
The company is serving now 300 to 4,000 customers in India.
In Pune, the development, innovation and R&D work is done through a workforce of 375.
The company has raised a fund of $200 million in venture funding and could be considering an IPO.