Alcion, the cutting-edge data management startup, announced today that it has successfully secured $21 million in a Series A funding round. The funding round was spearheaded by Veeam, a leading player in data protection and ransomware recovery. This investment brings Alcion’s total funding to an impressive $29 million.
The primary objective of this funding is to support the global expansion and general availability of Alcion’s innovative Backup-as-a-Service (BaaS) platform, which puts security at the forefront. Initially focused on Microsoft 365, Alcion’s platform is now gearing up to safeguard other critical SaaS services as well. The platform employs a multi-layered security approach, leveraging threat detection, intelligent backup scheduling, encryption, and delete protection to combat ransomware and malware effectively.
Niraj Tolia, CEO and Co-founder of Alcion, expressed the significance of this milestone, saying, “Data protection is more critical than ever. Since emerging from stealth in May, we’ve witnessed a remarkable 700% increase in organizations adopting our platform, resulting in Alcion managing a petabyte of logical backups. This funding positions us to rapidly scale our mission of safeguarding all the world’s data against malicious threats and accidents. Our customers, along with the rapidly growing open-source Corso community, will benefit from enhanced functionality, ease of use, and heightened ransomware detection.”
One of the standout features of Alcion’s platform is its AI-driven ransomware protection models, which continuously learn from user behavior and operate at a per-user or resource level to detect targeted attacks. Given that 94% of ransomware attacks target backup repositories, and 68% of these attacks lead to either full or partial compromise, including backup deletion, Alcion has placed significant emphasis on bolstering security features that protect backups.