#CLOUD REWIND INOVIA CAPITALSIMPSONBETAKIT FULL#

#CLOUD REWIND INOVIA CAPITALSIMPSONBETAKIT FULL#

“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, cyber-attacks, 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. Rewind has 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 Insight 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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