IBM Invests in Cohesity for Series F Financing of $150 Million

Cohesity, Inc. announced a deepening of its cyber resilience collaboration with IBM Corp.

The enhanced relationship will accelerate the development of essential cyber resilience capabilities to address organizations’ critical need for increased data security and resilience across hybrid cloud environments. With this announcement, Cohesity completes its series F financing, with IBM joining Nvidia Corp. as a strategic investor.

The most recent Cost of a Data Breach report sponsored by IBM Security shows the global average cost of a data breach in 2023 was $4.45 million, a 15% increase over the previous 3 years. To help clients tackle this issue head-on, IBM has delivered Cohesity capabilities into its end-to-end cyber resilience platform, IBM Storage Defender, strengthening customers’ ability to recover from data breaches and cyber-attacks.

“IBM is a powerful partner in the enterprise cloud and IT infrastructure market. They bring decades of expertise to our relationship, in addition to their investment in our business to help fund incremental research and development to offer customers even stronger cyber resilience,” said Sanjay Poonen, CEO and president, Cohesity. “We’re thrilled that IBM is working with us as we continue to help combined customers detect threats rapidly and maintain operations during an attack to avoid business interruptions.”

“Data breaches continue to be one of the biggest threats organizations face to advancing business outcomes,” said Ric Lewis, SVP, infrastructure at IBM. “We’re excited to deepen our collaboration with Cohesity to bring clients innovative end-to-end software-defined solutions designed to increase their cyber resilience and help avoid business interruptions.”

Cohesity’s collaboration with IBM has brought Cohesity DataProtect together with IBM’s Storage Defender Solution to help their joint customers protect, monitor, manage, and recover data. DataProtect is a high-performance, secured backup and recovery solution. It is designed to safeguard your data vs. sophisticated cyber threats and offers comprehensive policy-based protection for your cloud-native, SaaS, and traditional data sources. It converges multiple-point products into a single multicloud platform deployed on-premises or consumed as a service.

Storage Defender leverages AI and event monitoring across multiple storage platforms through a single pane of glass to help protect organizations’ data layer from risks like ransomware, human error, and sabotage. Additionally, it is anticipated to include a cyber vault and clean room features with automated recovery functions designed to help companies restore business-critical data in hours or minutes from what used to take days.