“We see Rewind as a pillar of the cloud backup and recovery space.” “Cloud software dominates the modern business landscape, and the demand for cloud backup and recovery tools will continue to grow as businesses of all sizes, especially small and mid-size organizations, look to ensure business continuity by mitigating the fallout of data disasters and the incessant barrage of data attacks,” said John True, operating partner at Insight Partners. This latest round of funding will allow us to expand our reach, bring additional SaaS backup solutions to the market, and raise awareness for the need to include all cloud and SaaS applications in a business’s backup and recovery strategy.” “We see tremendous opportunities to backup the entire cloud and are working towards that vision. “While we’ve continued to double revenue and software subscribers year over year, every day our team talks with seasoned technology professionals who still do not realize they lack full control of their vital business data,” said Mike Potter, co-founder and CEO of Rewind. Rewind ensures that over 100,000 businesses around the globe can quickly recover from any data issue – giving them immediate access to comprehensive, usable backups in six essential SaaS applications that would otherwise go unprotected. Rewind is filling a major gap by extending cloud backup and recovery to more SaaS tools. Yet, most cloud and SaaS backup and recovery solutions continue to center on supporting a handful of massive, enterprise players. While respected SaaS providers actively backup their cloud infrastructure, they do not make account-level, business-critical information (such as sales, marketing, and financial data) available to their users. The latest infusion of capital will help Rewind speed its product development pipeline so it can deliver data protection solutions for more business-critical SaaS applications as the threat of data breaches, user errors, cyberattacks, and ransomware continues to escalate.Īdoption of SaaS tools continues to surge, with businesses worldwide already managing 80 different applications at any given time on average and SaaS tools expected to dominate the business software landscape by 2025 with only 15 percent being non-SaaS solutions. Atlassian Ventures, the investment arm of Atlassian (TEAM NASDAQ) also made a strategic investment in Rewind as part of the Series B. Bessemer Venture Partners, FundFire, Inovia Capital, Ridge Ventures, ScaleUp Ventures, and Union Ventures participated in the oversubscribed round. Ottawa - September 16, 2021- Rewind today announced the close of a USD $65 million Series B round of financing led by New York-based global private equity and venture capital firm In sight Partners to scale its efforts to provide backup and recovery solutions for the most widely used software-as-a-service (SaaS) tools for businesses.
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