Data Protection Platform Alcion Secures $21M Series A Round

The round coincides with the general availability of the company’s backup-as-a-service platform.

Published on Sep. 19, 2023
Data Protection Platform Alcion Secures $21M Series A Round
Niraj Tolia, Alcion CEO and co-founder, poses for a photo.
Niraj Tolia, Alcion CEO and co-founder. | Photo: Alcion

Alcion, a data management company headquartered in Santa Clara, announced it raised $21 million in a Series A funding round, bringing its total funding to $29 million. The round will go toward supporting the general availability and global go-to-market expansion of Alcions backup-as-a-service platform for Microsoft 365.

Alcions offering includes AI-driven ransomware protection models that learn from user behavior to detect targeted attacks. Its platform combats ransomware and malware using threat detection, backup scheduling, encryption and delete protection. Alcion has seen a 700 increase in businesses using its platform since exiting stealth in May.

The new funding round from Veeam and other investors will help Alcion build features for its managed service provider customers as well as extend its data protection features for SaaS services apart from Microsoft 365. The funding supports Alcions mission of protecting the worlds data against malicious threats and accidents.

This article was written by Writer, a generative AI tool, using information from press releases and company blogs provided by our staff. All content was reviewed by a Built In editor and went through a fact-checking process to ensure accuracy. Errors can be reported to our team at [email protected].

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