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SaaS Application Backup Firm Rewind Raises $15 Million

Backup-as-a-service (BaaS) provider Rewind on Tuesday announced it has raised $15 million in Series A funding.

Founded in 2015, the Ottawa, Canada-based company helps customers secure business-critical software-as-a-service (SaaS) application and cloud data, and claims more than 80,000 organizations in over 100 countries rely on its solutions.

Rewind says it provides businesses of all sizes with backup solutions that can help them recover from various types of incidents, while ensuring no data is lost.

The backup services provider plans to use the funds to continue expansion, accelerate product development, and deliver new data protection solutions faster. Furthermore, the company plans to hire across all core business functions: R&D, marketing, sales, and customer services.

“We are committed to giving all businesses a reliable way to protect and control the cloud data that fuels their business success. With the support of our investors, our goal is to develop advanced backup-as-a-service solutions for all top cloud apps,” Mike Potter, co-founder and CEO of Rewind, said.

The funding round was led by Inovia Capital and saw participation from Ridge Ventures and Bessemer Venture Partners.

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