Spin Technology, Inc., a Palo Alto, CA-based developer of a SaaS data protection platform for mission-critical SaaS apps, closed a $16m Series A financing.
The round was led by Blueprint Equity with participation from Santa Barbara Venture Partners and Blu Venture Investors. In conjunction with the funding, Blueprint Equity’ Sheldon Lewis, Santa Barbara Venture Partners’ Dan Engel, and Blu Venture Investors’ Robert Struble will take seats on Spin’s Board.
The company intends to use the funds to accelerate growth, expand its SaaS offerings, and grow the marketing, sales, and engineering teams.
Led by Dmitry Dontov, CEO and Founder, Spin Technology provides ‘SpinOne,’ a SaaS data protection platform designed specifically for mission-critical SaaS apps. SpinOne is a combination of four innovative offerings, including:
- Ransomware monitoring and response – Automated ransomware protection for SaaS environments that provides 2 hours incident response against ransomware attack on SaaS data, as a result, it reduces recovery costs by as much as 90 percent.
- Apps risk assessment – Automated risk assessments of cloud SaaS apps and browser extensions reducing the manual efforts of SecOps teams and helping businesses increase their cybersecurity posture.
- Data leak prevention (DLP) – Understand which data is shared in the cloud and with whom, and get full visibility over your business-critical data in the cloud.
- Backup and recovery – Compliance friendly enterprise-grade backups to secure cloud environments with versioning and granular recovery capabilities.
The dashboard, which extends security across multiple environments, including Google Workspace, Microsoft Office 365 and Salesforce, provides a single view of cybersecurity and data protection to cloud SaaS environments based on next-generation artificial intelligence (AI) and machine learning (ML). In addition, the company provides tools to address modern cybersecurity challenges in cloud SaaS environments.
SpinOne delivers cyber defense, SaaS data management, and protection for more than 1,600 organizations worldwide.
FinSMEs
11/08/2022