Described is a system for intelligently storing and recovering backup data using multiple storage tiers of a cloud-based storage. The intelligent storing of backup data may leverage different cost structures associated with various cloud-based storage tiers by efficiently distributing data to more cost effective tiers. The system may also provide a coordinated (e.g. phased) recovery that prioritizes the recovery of certain files so that a user can gain access to such files in a shorter amount of time. The system may also provide enhanced storage and recovery functionality (e.g. via specialized user interface elements) by leveraging placeholder files to offload and recover individual files, and expedite the recovery of individual files during a substantial recovery process.