Rewind, an Ottawa, Ontario, Canada-based Cloud Data Protection company, completed a US $15 million Series Financing round.
Inovia Capital spearheaded this round with participation from Ridge Ventures, Bessemer Venture Partners, ScaleUP Ventures, Fundfire, Mistral Venture Partners, and other technology-focused angel investors. Alongside the investment, Charbonneau of Inovia Capital will join Rewind’s Rewind Board of Directors, while Alexandra Sukin of Bessemer Venture Partners, Yousuf Khan of Ridge Ventures, and Alexander Rink of Rink Ventures will be joining as observers.
Also Read: India Mobile Premier League (MPL) Raised $95M With an Estimated Valuation of $945M
Rewind Closing $15M in Series A Funding
The company plans to utilize the funds to speed up product development, bringing innovative data protection products onto the market and strengthening its R&D, sales marketing, and service teams. Service teams to help with its international expansion.
Directed by Mike Potter, co-founder and CEO, Rewind provides solutions for businesses to secure their SaaS or cloud data applications by giving instant access to comprehensive backups so they can quickly recover from a minor data-entry mistake or a huge data catastrophe. Rewind’s platform lets companies store, back up, restore, and copy crucial data that is the basis of their business.
Based on an increase in companies’ dependence on cloud-based applications in the past three years, The company has safeguarded the data of over 80 000 businesses worldwide (including Badgley Mischka, Charmin, Magnolia, Pampers, and Paul Mitchel) and grown its revenues by 1,113 percent.
Also Read: SeekOut Funds $115M with 1B Value, Under The Direction of Tiger Global