SaaS providers back up their own cloud infrastructure but don’t make account-level, business-critical information (such as sales,marketing and financial data) available to their users. According to a recent Oracle report, while half of businesses plan to have all their data in the cloud in the next two years, most cloud users have lost data. “The incredible Rewind leadership team has already built a tremendously successful company – demonstrating customer growth and capital efficiency, while effectively scaling the number of supported applications – and is well positioned to redefine comprehensive cloud data protection in the years ahead.” 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 and store their data,” added Magaly Charbonneau, partner at Inovia Capital. “Rewind provides solutions that are pivotal to the growth and proper utility of the cloud. Ridge Ventures and Bessemer Venture Partners also participated in the round, which Rewind will use to fuel its continued expansion as it builds out backup-as-a-service (BaaS) support for business-critical SaaS applications.
#Cloud rewind inovia capitalsimpsonbetakit series#
Rewind has announced the close of a $15 million Series A round of financing led by Inovia Capital. Based on a dramatic spike in businesses’ reliance on cloud applications over the last three years, Rewind has protected the data of more than 80,000 businesses worldwide (including Badgley Mischka, Charmin, Magnolia, Pampers and Paul Mitchel) and grown its revenue by 1,113 percent.
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