Data protection startup Rewind closed another round of financing worth $15 million as it envisions comprehensive protection for data across SaaS applications.
The firm’s top investors support the initiative to create useful utilities for cloud data protection, now expanding to the backup-as-a-service (BaaS) in support of applications. Since the dramatic increase in the demand for data protection, investors see this opportunity for growth.
As more and more companies rely on mobile and cloud applications for technological advancement, the need to secure data on the cloud is highly integral. Rewind’s responsible for protecting the data of more than 80,000 businesses worldwide, including prominent brands.
Since a spike in its revenue by 1,113 percent, investors are surely reaping the benefits from the continued service expansion. This new financing round was led by Inovia Capital, with participation from Ridge Ventures, Bessemer Venture Partners, ScaleUP Ventures, and others.
The new backup-as-a-service offer will feature advanced offerings including unlimited storage and a dedicated support team. This will enable businesses to increase their load as more data is stored and managed by the service provider.
Tiny issues are easily resolved too in order to prevent massive data mismatch and disasters. The BaaS comes with the ability to back up any customer data in multiple data centers around the globe, all the while ensuring data privacy and compliance needs.
“Rewind provides solutions that are pivotal to the growth and proper utility of the cloud. Building reliable, secure backups is an opportunity that has the potential to scale across hundreds of applications and be part of the backbone of the way millions of businesses work,” said Inovia Capital partner Magaly Charbonneau.
The SaaS offering has the ability to backup cloud infrastructure without making an account-level and business-critical information available to users. The transition to this new technology prevents data loss, which is common among competitors.
Rewind provides immediate access to usable, comprehensive backups, so it’s easier to recover files from a tiny data-entry error or a massive data disaster. The company backs up around 33 billion data points from leading cloud applications, including BigCommerce, QuickBooks Online, and Shopify.
“Without comprehensive cloud data protection, businesses risk permanently losing critical data without much recourse,” said Rewind co-founder Mike Potter.
According to Potter, the new funding will help the company to accelerate its product development process, and to bring new data protection offerings to the market.
