Rewind, an Ottawa, Ontario, Canada-based Cloud Data Protection company, closed a USD $15m Series A round of financing.
The round was led by Inovia Capital with participation from Ridge Ventures, Bessemer Venture Partners, ScaleUP Ventures, Fundfire, Mistral Venture Partners, and technology-focused angel investors. In conjunction with the funding, Charbonneau of Inovia Capital will be joining the Rewind Board of Directors while Alexandra Sukin of Bessemer Venture Partners, Yousuf Khan of Ridge Ventures, and Alexander Rink of Rink Ventures will join as observers.
The company intends to use the funds to accelerate product development, bringing new data protection solutions to market and to strengthen its R&D, sales, marketing and customer service teams to support its global market expansion.
Led by Mike Potter, co-founder and CEO, Rewind provides solutions for businesses to protect their SaaS and cloud data applications giving immediate access to comprehensive backups so they can quickly recover from a tiny data-entry error or a massive data disaster. The platform enables companies to back up, restore and copy the critical data that drives their business.
Based on a spike in businesses’ reliance on cloud applications over the last three years, the company 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 %.