Alcion, a data management startup, has raised $21 million in a Series A funding round led by Veeam, a data protection and ransomware recovery company. This brings Alcion’s total funding to $29 million.
Alcion offers a security-first, AI-driven Backup-as-a-Service (BaaS) platform for Microsoft 365 and other business-critical SaaS services. The platform includes multi-layered security features such as threat detection, intelligent backup scheduling, encryption, and delete protection to combat ransomware and malware.
With a focus on data protection, Alcion’s AI-driven ransomware protection models constantly learn from user behavior to detect targeted attacks. The platform also enhances security features that protect backups.
Alcion will use the funding to support its global expansion and the general availability of its BaaS platform for Microsoft 365. It also plans to extend data protection features to additional SaaS services beyond Microsoft 365.
Other features and improvements include deepened data security, SOC 2 Type II certification, proactive data protection, ease of product functionality, flexible self-service options, and worldwide availability in regions such as Australia.
The platform aims to address the rising threat of ransomware, which has become a significant concern for organizations. According to research, 94% of ransomware attacks target backup repositories, making robust data protection essential.
The funding round included participation from existing investors, including Lip-Bu Tan, Chairman of Walden International and Intel Board Member, among others.