Draft:HYCU
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| File:HYCU Logo.svg | |
| Company type | Private company |
|---|---|
| Industry | Data Management |
| Founded | 2018 |
| Founders | Simon Taylor, Goran Garevski |
| Headquarters | Boston, Massachusetts, US |
Key people | Simon Taylor, CEO |
Number of employees | 300 |
| Website | www |
HYCU is a leader for modern data protection for on-premises, cloud services, and SaaS application data. Founded in 2018, HYCU is based in Boston, MA. HYCU stands for Hybrid Cloud Up Time and is pronounced "haiku." (Feldman, Jacob (2023). "Red Sox Boost Cybersecurity and Data Backup in Local Startup Deal". 'Sportico'. Retrieved 7 January 2025.) The company name sounds like "haiku" as: "What a haiku does is take a longer poem and condense it down into a smaller (six lines) elegant package... We do the same thing with data; we make it more digestible and easier to access..." Simon Taylor, CEO of HYCU said. (Preimesberger, Chris (2018). "Comtrade Software Relaunches as HYCU, Nutanix's Data Protector". 'eWeek'. Retrieved February 9, 2024.) HYCU provides data backup, recovery, protection, migration, disaster recovery, and ransomware for companies' online infrastructure and SaaS applications. (2021). "HYCU CEO and Bain Capital Ventures partner on latest 87.5 funding round". 'CNBC'. Retrieved 15 February 2024.)
History
CEO Simon Taylor and CTO Goran Garevski founded the company in 2018, after discussing the challenges the industry faced over dinner, namely protecting and managing data over multiple sources. The company's focus is on the protection of people and companies by ensuring data and IT environments are safe. ("About HYCU". Retrieved 7 January 2025.)
Products
HYCU's products are focused on the need to simplify data backup and recovery for applications across multiple cloud platforms and systems. The company has argued that enterprises with expansive data storage networks need simpler data backup and recovery services that cover all of the applications they use across multiple cloud platforms, on-premises architectures, and SaaS platforms. A requirement for advanced backup and recovery systems has been driven by the increasing popularity of multi-cloud services. This popularity continued to grow exponentially during the early 2020s, and the threat of malware and cyberattacks also increased. (McKeon, Jill (2021). "Security Defines Multi-Cloud Infrastructure Success, IT Leaders Say" 'Health Security.' Retrieved 7 January, 2025.)
HYCU is a Visionary in the Gartner 2024 Magic Quadrant for Enterprise Backup and Recovery Software Solutions. HYCU R-Cloud (previously Protégé) is a hybrid and multicloud BaaS platform that spans across Azure, AWS and GCP to support IaaS Infrastructure as a service, database as a service (DBaaS) Database as a Service, PaaS Platform as a service, SaaS Software as a service, and on-premises workloads. HYCU R-Graph provides insight to application and data architectures across on-premises, cloud and SaaS environments. DPaaS (Data Protection as a Service), and other in-house workloads. (Hoeck, Donham, Rodriguez, Mukhyala (2024). [1] 'Gartner'. Retrieved 7 January 2025.)
HYCU announced R-Cloud, its current platform, in February of 2023. It added cybersecurity capabilities to updated and new SaaS applications lacking ransomware protection and recovery tools. R-Cloud offers a low-code platform that some consider easier than other data protection platforms on the market, making it one of the simplest solutions to protect data on SaaS applications according to 2023 reports. (Wheatley, Mike (2023). "HYCU's new R-Cloud brings simple, cloud-based data protection to SaaS app providers 'Silicon Angle'. Retrieved 7 January 2025.) According to a report by 'Acceleration Economy,' HYCU covers around 30,000 applications, reported to be 10x more than other companies can protect. As the SaaS application industry continues to grow exponentially, more and more apps are created without reliable protection. (Allen, Kieron (2023). "HYCU Reaches Milestone in Backup and Recovery for AWS, SaaS Applications 'Acceleration Economy'. Retrieved 9 February 2024.) R-Cloud launched with R-Graph, a mapping tool that shows a complete picture of SaaS workloads and where weak spots exist. (Hoeck, Simpson, Rozeman, Donham (2023). "Magic Quadrant for Enterprise Backup and Recovery Software Solutions" 'Gartner'. Retrieved 1 February 2024.)
A generative AI component was added to HYCU's R-Cloud development process in February 2024. The goal was to streamline the process of adding HYCU's code to new SaaS applications, generating code specific to HYCU's platform. (Allen, Kieron (2024). "HYCU Leverages GenAI For Critical Enterprise Use Case: SaaS Data Protection" 'Acceleration Economy'. Retrieved 7 January 2025.) The R-cloud Generative AI uses Antrhopic's Claude (language model) generative AI model to write code connecting applications to HYCU, which can backup and protect customer information. As of 2024, it's the customer's responsibility to protect their data when engaging with SaaS applications or for the SaaS application itself to provide data protection. According to CEO Simon Taylor, HYCU's own studies have found that: "Among the 23,000 SaaS vendors globally, only five of them were backed up and recoverable via the world’s leading data protection vendors. Not five percent, but five. Just five vendors.” (Mellor, Chris (2023). "HYCU CEO wrote the book on SaaS data apocalypse" 'Blocks & Files' Retrieved 13 February, 2024.) This leaves many people open to the threat of cyberattacks. The integration of Claude's generative AI to connect to HYCU can cut down the time it takes to write code that protects customer data, linking it to HYCU's platform. This is a new application for AI in the industry, as journalist Chris Mellor says: "This is a novel and significant idea which could be adopted by other industry players." (Mellor, Chris (2024). "HYCU offers generative AI SaaS app protection builder bot" 'Blocks & Files'. Retrieved 9 February 2024.])
HYCU R-Cloud provides real business value. As Robert Kramer, Moor Insights, noted, “The R-Cloud business value protects an organization's on-premises, multi-cloud, and SaaS application data. HYCU’s low-code development platform facilitates the integration of backup and recovery services into various SaaS applications. R-Cloud provides a unified view of applications, platforms, workloads, and associated data protection status, enhancing data management within the ecosystem. It is recognized for its user-friendly and intuitive interface for end users as well as SaaS providers.” (Kramer, Robert (2024). (chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://moorinsightsstrategy.com/wp-content/uploads/2024/06/HYCU-Wants-to-Revolutionize-Data-Protection-FINALv6.27.24.pdf
In August 2024, HYCU released the first in an annual worldwide research report highlighting critical vulnerabilities to SaaS data. The report titled, The State of SaaS Resilience in 2024, explored the cyber resilience of SaaS usage based on an independent survey of more than 400 global IT decision makers. (Retrieved 7 January 2025)
The report revealed a number of troubling issues that have risen with the increase of SaaS application use. As Chris Mellor noted, “SaaS application users don’t realize how many SaaS apps they use, how vulnerable they are to malware attacks and the damage such attacks can cause.” (Mellor, Chris. 2024) Retrieved 7 January 2025)
HYCU continues to evolve the R-Cloud platform, making it easier for companies to protect and recover invaluable data across multicloud, on-premises and SaaS-based application environments. While recently broadening support for data on infrastructure including Azure Local (formerly Azure Stack HCI), along with AWS, AWS GovCloud, Azure, Azure GovCloud, Google Cloud, Nutanix, VMware and others, HYCU customers now have the flexibility to ensure their data is on the “right hybrid or public cloud at the right price”. (Savvas, Antony (2024). https://blocksandfiles.com/2024/12/20/hycu-upgrades-r-cloud-to-make-it-easier-and-cheaper-to-move-data/ Retrieved 7 January 2025])
Funding
In March 2021, HYCU announced a Series A round of funding of $87.5M by Bain Capital Ventures and Acrew Capital. HYCU added strategic investors Cisco and Atlassian in a Series B round in 2022, which made their total funding over $140M. In addition, Principal at Bain Capital Ventures Stefan Cohen and Partner at Bain Capital Ventures Enrique Salem joined HYCU's Board of Directors. Salem became Chairman of the Board and was an early player in the multi-cloud backup scene as former CEO at Symantec. (Lunden, Ingrid (2021). "HYCU raises $87.5M to take on Rubrik and the rest in multi-cloud data backup and recovery". 'Tech Crunch'. Retrieved 7 January 2025.)
Personnel
CEO and co-founder Simon Taylor previously held senior executive positions, as President and CEO, at Comtrade Software. ([https://councils.forbes.com/profile/Simon-Taylor-CEO-HYCU/5241a8b8-93a6-481a-9823-bdd0e41a8507 'Forbes'. Retrieved 8 February 2024.) Taylor is also the author of the book "Averting the SaaS Data Apocalypse" where he discusses SaaS applications' lack of protection from cyberattacks: "The sheer scale of data handled by these [SaaS] services and the widespread reliance on them have painted a bulls-eye on their backs. It's not a question of 'if' but 'when' a serious breach will occur, with potentially catastrophic consequences." He warns of the possibility for shutdowns of critical services due to the lack of protection for SaaS applications. (Mellor, Chris (2023). "HYCU CEO wrote the book on SaaS data apocalypse" 'Blocks & Files'. Retrieved 7 January 2025.)
Goran Garevski, co-founder and Chief Technology Officer, previously worked at Comtrade Software as well as Vice President of Engineering. ([https://theorg.com/org/hycu/org-chart/goran-garevski 'The Org'. Retrieved 8 February 2024.) In December 2023, Angela Heindl-Schober joined as Senior Vice President of Global Marketing. She has extensive experience at other technology companies such as Vectra AI, Riverbed Technology, Infor, Baan, and Electronic Data Systems. Her most recent position was at Vectra AI for eight years. (Mellor, Chris (2023). "Storage news ticker – December 11" 'Blocks & Files'. Retrieved 9 February 2024.) Other executive members include Subbiah Sundaram as Vice President of Products, Tanja Perić as Chief People Officer, Justin Schumacher as Chief Financial Officer, and recently named Chris Nelson as Vice President of Global Sales and Business Development. Subbiah Sundaram has more than 30 years of experience in software, storage, and cloud computation in executive roles at companies such as DataGravity, Abydos, and GE. ([https://www.flashintel.ai/people/Subbiah-Sundaram-de81c88be30b39fd18863b124e6b8e21/ 'Flash Intel'. Retrieved 13 February 2024.) With over 15 years of human resources experience, Tanja Perić has worked for Comtrade Group, Metro Cash, and Carry Serbia. ("The Org" 'The Org'. Retrieved 13 February 2024.) Justin Schumacher has 20 years of experience with SaaS and data protection, including time at JumpCloud, Uplight, Simple Energy, SolidFire, DataLogix, and KPMG. ([https://theorg.com/org/hycu/org-chart/justin-schumacher/ 'The Org'. Retrieved 13 February 2024.) Chris Nelson joined HYCU with a wealth of experience in the data protection, disaster recovery, and storage industries. Prior to HYCU, Nelson held senior sales leadership positions at DomainTools, Zerto, Hitachi Vantara, and Quantum. ([https://www.globenewswire.com/news-release/2024/06/26/2904497/0/en/HYCU-Appoints-Chris-Nelson-as-VP-of-Global-Sales-and-Business-Development.html/ ‘Globe Newswire’. Retrieved 7 January 2025.)
Notable Awards
HYCU, Inc. Wins Gold in TechTarget Storage Products of the Year 2023 Awards [2]) Retrieved 7 January 2025.]
Visionary in the 2024 Gartner® Magic Quadrant™ for Enterprise Backup and Recovery Software Solutions [https://www.gartner.com/en/documents/5649023
Retrieved 10 January 2025.]
HYCU Wins Google Cloud Technology Partner of the Year Award for Backup and Disaster Recovery [https://cloud.google.com/awards/partners Retrieved 10 January 2025.]
HYCU Spotlighted Across 98 G2 Reports with Leadership Status in Seven ([https://www.storagenewsletter.com/2024/12/31/hycu-spotlighted-across-98-g2-com-reports/ Retrieved 10 January 2025])
Capterra Shortlist 2023 8 February 2024. GetApp Category Leaders 2023 8 February 2024. Software Advice Frontrunners 2023 8 February 2024. CRN Storage 100 2024 8 February 2024. CRN Partner Program Guide Winner 2024 [hhttps://www.crn.com/partner-program-guide/ppg2024
Retrieved 10 January 2025.]
2024 BBJ Best Places to Work Winner Retrieved 7 January 2025. Acceleration Economy Cybersecurity Top 10 Short List 8 February 2024. 2020-21 DCIG Top 5 Azure Cloud Backup Solutions 8 February 2024.