>> Okay, welcome back everyone to our special Silicon angle presentation with Druva's Live Event here in Palo Alto. I'm John Furrier. Our next segment is about the 80-million dollars in funding topic and I'm here with Mahesh Patel, CFO of Druva and Jeff Parks, general co-founder and partner of Riverwood Capital, the investor who put it all together with Mahesh. Thank you for coming on, appreciate it. Let's talk about the 80 million dollars, a lot of cabbage, as we say. (chuckling) So talk about what's going on with the funding. >> Well we're a late-stage company. We have established product market fit, over 4,000 customers, 40 petabytes managed in the Cloud, but a real differentiated product, the way we attack the market and the data-protection landscape is evolving fast and we believe we have the right products out there to go capitalize on. >> Just to get the numbers down, what round is this and how much total raise have you guys done? >> We really call it late-stage round because just the nomenclature around (cross-talk) what round >> John: A-B-C -- >> Changes, what round -- >> John: So it's a growth round? >> It's a growth round for us, so it's what we believe, very late-stage round for us, we believe it's the right amount of capital to kind of carry us forward. It's really about the opportunities that are ahead of us. When we think about what we've executed on thus far, we've had an amazing journey but our best is ahead of us so we have the tipping point with Clouded Option, especially in infrastructure management and back-up and we play really well and our new product sets are showing very strong progress so, really, our best is ahead of us with this capital, we're going to be able to capitalize on some market. >> So were you guys looking for capital? Or did this just kind of come together opportunistically? How did, this validation market, with the new next generation Druva Cloud Platform, also you got to do some more development but were you guys seeking financing or how did this all come together? >> Well it really validates, again, it validates what we've been building and we really think of this as opportunistic for us because we see, we see this as a great market for us. We see, executed at, accelerating revenue, accelerated billing growth, with the Clouded Option, we're seeing it continue to evolve but we recognize at this point, at this journey, the additional capital allows us to get to the next stage, the next level and really, with a partner like Riverwood to join us, not only with the capital but with the domain experience they bring to the table, it was the right partnership to carry us forward. >> Jeff, what did you see in Druva? Obviously, you do a lot of investing. You've invested in companies that have been over a billion dollars in valuation. You've got a great pedigree of deals that you guys are involved in. What, about Druva, was attractive to you from a financial investment standpoint? >> Yeah, thanks for the compliment, by the way. I would probably remark on three things, John. The first thing we look for in companies like this is really a very large market opportunity and when you think about the secondary storage market, I think it's actually one of the larger markets that is yet to be really, truly disrupted by the Cloud and Druva, certainly at the forefront of that, and so with that leadership position and that sort of obvious megatrend, I think there's a great growth opportunity for the company. The second thing I'd say is part of our due diligence, we really check out an extensive customer call background check and what we found there is really to a T that every customer is not only happy with what Druva's providing but really, I think, have a significant expansion opportunity there, and that's a great validation. And, really, lastly is the management team. We certainly look to partner with these companies and really with the teams that we're backing and between Jaspreet and Mahesh and the team, I think we're really quite excited about partnering with the Druva team. >> Interesting you mention about grilling the customers for the references as your due diligence, which is what all investors do, you guys are hard-core, it sounds like you're disciplined to go see that all the way through. On the customer journey segment, we had the customers drilling Druva pretty hard, so -- (cross-talk) some, all this due diligence, it's a new space. >> Jeff: Sure! Of course. >> You're not new to this area. You're also on the board of Nutanix, they do primary storage, you mentioned secondary storage, was there help there having a visibility into what Nutanix was doing and then visibility into secondary storage, and the difference in-between them? >> Well, certain, we've been long-time investors in the infrastructure space, generally, and certainly our involvement in Nutanix has given us a great front row seat at some of the major enterprise infrastructure transitions and that certainly informs our view about the secondary storage market and the opportunity that Druva has. >> What's next for Druva? What are you guys going to do with the cash? Are you going to do an exit? Is that being discussed? I mean, take us through how you see Druva unfolding. >> Well, it's been a fantastic journey so far. I'd say we executed amazingly over the last few years and continue to execute with accelerating revenue growth, as well. We built out a global sales team servicing over 20 countries at this point. We are near cashflow-positive at this point and frankly, we have an amazing set of customers to capitalize on further. Really, what we've done with the new Druva Cloud Platform bring it to the table, this additional capital allows us to really take this forward and we really think we're in the early stages of a long game ahead of us so we're really excited about where this capital is going to take us. >> And you're watching the cash, making sure it's going to the right spot? You got your investor there, you got to keep him happy. >> Mahesh: Absolutely, absolutely. >> Congratulations, guys. It's been great exposure to the data transformation, as you put it, appreciate it. Great disruption in data protection, secondary storage, great market opportunity. The stakes are high and the best product, great management team and the ones who have the technology chops for centralizing the Cloud operation will make it happen. Thanks to you guys for participating in this special event. Thanks for watching, everyone.