Affiliates of Insight Venture Partners acquired Spanning Cloud Apps, an Austin, Texas-based provider of a SaaS data protection platform.
The amount of the deal was not disclosed. Dell EMC, which acquired Spanning in October of 2014, will remain a strategic partner and continue to sell Spanning Backup as part of their data protection product portfolio.
Spanning Cloud Apps, LLC will become an independent company operating under the Spanning brand. Jeff Erramouspe, who previously served as VP and general manager, will return to his role as CEO, which he held before the acquisition by EMC. Mike Pav, previously VP of engineering, will become SVP of Operations. All current employees will remain with the company.
Spanning Cloud Apps is a provider of backup and recovery for SaaS applications, allowing organizations to protect their information in the cloud. The company, which provides enterprise-class data protection for G Suite, Salesforce, and Microsoft Office 365, currently serves more than 7,000 customers protecting more than 1.5 billion items each week and restoring roughly 18 million items in 2016.
Insight Venture Partners is a global venture capital and private equity firm investing in high-growth software, internet and data services companies.
FinSMEs
21/04/2017