# HYCU

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hycu

- Industry: Software
- Headquarters: Boston, US
- Website: www.hycu.com
- Total disclosed funding: $84M
- Latest round: Series B (Oct 17, 2022)
- Investors on record: 6

## About

HYCU, Inc. is a Boston-based provider of innovative data protection solutions designed to safeguard enterprise data across diverse environments, including on-premises and cloud settings.Founded in 2018, HYCU, Inc. specializes in data protection services that enhance data security in various operational environments. The company has not reported any significant pivots in its business strategy. HYCU is headquartered in Boston, Massachusetts, in the US. Goran Garevski is the founder, while Simon Taylor serves as the CEO. As of October 2022, the company raised USD 29.25 mn in Series B funding, led by Acrew Capital, with participation from investors including Atlassian Ventures, Bain Capital, and Cisco Investments. This funding round marked the total amount raised by HYCU to USD 29.25 mn across its three deals.HYCU offers a comprehensive data protection platform that safeguards data across various environments, including on-premises, cloud, and Software as a Service (SaaS). The core product, the HYCU Total Data Protection Platform, allows users to secure their data with a single click by utilizing native APIs for customized backup and recovery experiences. The platform identifies protection gaps and verifies compliance across diverse applications, serving a client base that includes enterprises using Nutanix, VMware, Google Cloud, AWS, and Microsoft 365. HYCU's services cater to businesses in North America, Europe, and Asia-Pacific, addressing various use cases such as disaster recovery, ransomware protection, and data migration, targeting IT administrators and security personnel managing enterprise data assets.HYCU primarily operates on a subscription-based revenue model, enabling clients to access its data protection services on a recurring basis. This model features various pricing tiers tailored to different organizational sizes and data protection requirements, emphasizing flexibility and scalability. Clients may form partnerships to integrate HYCU's services into their existing cloud environments for efficient data management across platforms. The pricing plans for flagship offerings, including the HYCU Total Data Protection Platform, are designed to align with the level of service provided and the volume of data managed, offering tailored solutions to meet operational needs.Looking ahead, HYCU plans to leverage its recent Series B funding raised in October 2022 to further expand its business reach. The company is focused on developing new products and enhancing its existing platform, although specific upcoming product releases have not been disclosed. Additionally, HYCU aims to penetrate new geographic markets, particularly targeting expansion initiatives throughout North America, Europe, and Asia-Pacific in the near future.

## Funding rounds

- Series B, Oct 17, 2022 — Okta Ventures
- Series B, May 26, 2022, $29M — Bain Capital, Cisco Investments, Acrew Capital, Atlassian Ventures
- Series A, Mar 26, 2021, $55M — Bain Capital, Overtime.vc, Acrew Capital

## Investors

- Bain Capital (https://capitalatlas.ai/funds/bain-capital) — Series A, Series B
- Overtime.vc — Series A
- Acrew Capital (https://capitalatlas.ai/funds/acrew-capital) — Series A, Series B
- Cisco Investments (https://capitalatlas.ai/funds/cisco-investments) — Series B
- Atlassian Ventures (https://capitalatlas.ai/funds/atlassian-ventures) — Series B
- Okta Ventures (https://capitalatlas.ai/funds/okta-ventures) — Series B