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NewsSaaS Data Backup and Recovery Platform Rewind Raises $65M Series B Round...

SaaS Data Backup and Recovery Platform Rewind Raises $65M Series B Round of Funding

Rewind is a stand that offers a data backup and recovery platform, particularly for software-as-a-service (SaaS) applications.

Cloud Rewind Series

Rewind had raised more or less $15 million, most of it got received via its series A round introduced in January, and in the series B round of funding it successfully raised $65 million.

The data recovery platform Rewind was founded in Ottawa, Canada in the year 2015. Rewind initially offered services of data backup to businesses that were running Shopify, BigCommerce, and also Intuit Quickbooks for accounting and similar purposes. After some time this company extended its support to GitHub and acquired BackHub for the same, then it added support for Trello as well as per rewind series 65msawersventurebeat.

The user of individual accounts or the customers is liable for safeguarding and managing their accounts which includes granting permissions for various needs, password management, and backing up data. The new funding of Rewind will help the corporate sector companies to speed up the course of product improvement and also offer new data safety to the market.

The main issue that arises for the data backup company Rewind and similar platforms is that most SaaS platforms work according to the model of “shared responsibility”.

However, platform owners like BigCommerce are required to provide a model such that in case of a systemwide failure it has the capability to work on infrastructure-level disaster recovery and security in a single shot.

Canadian Rewind Saas Series Series

SaaS apps like Trello are resource-intensive actions, these apps are always an alternative solution for customers who want to backup their data. But these apps aren’t an easy option to restore or recover the whole data in any event of a sudden emergency. To overcome this problem comes Rewind, which provides all SaaS app users the control by which an individual would able to restore or recover data to a specific date and time.

The Co-Founder and Chief Executive of Rewind, Mike Potter pointed out that SiliconANGLE has lack a strong SaaS backup service the reason for the gaps in the much-needed and organized Shared Responsibility Model which s further followed by Saas, Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS) providers which outline the company’s duty and responsibilities end and that of a customer as an individual begins.

Furthermore, the Chief Executive added, “Simply put, customers, rent a SaaS company’s infrastructure, leveraging their technology to conduct business,” Potter said. “If you read the terms and conditions of most SaaS providers, they will aim to have their applications running 24/7.

However, when it comes to the data and information that you create and upload; they will not guarantee that it will always be saved. The responsibility of ensuring data and business continuity is “shared” between SaaS providers and customers.”While companies like Salesforce.com Inc. and Amazon Web Services Inc. have been existing for a long time now but these companies provide cloud backups and other services to large software companies as per rewind series capitalsimpsonbetakit.

On the other hand, Rewind aims to help and provide services to small and medium-sized businesses or companies that require security and recovery services for the small SaaS apps it uses.

It will be quite a significant blow for the company if the vital data it has to run the company is Mike Potter, the Co-Founder of Rewind said to VentureBeat, “As businesses become more reliant on cloud tools and the data stored within them, having backups will likely become standard practice for both data and business continuity.”

Further, he added “While enterprise backup players are tackling the major software tools like Microsoft and Salesforce, the industry is hungry for the ability to confidently backup and easily restore data from the growing list of applications and cloud tools that keep businesses running. That is where Rewind comes in.”

Rewind SaaS Series Series

From the perspective of the Product side, each SaaS service provider does not have a system with a full set of APIs. With the outstanding Series, A financing Rewind is strategizing to boost its sales and advertising alternatives along with an increase in its market share of customers. The most popular and wide-ranging misconception about cloud storage is the idea that data in the cloud once put in will be stored in it forever. The worst part of the scenario is that this idea is held by seasoned technology professionals as well.

Mike Potter said, “In the last five years, we have seen just about every scenario imaginable when it comes to causes of data loss: people making mistakes, employees or contractors deleting data on purpose, third-party apps taking control and wiping databases”.

“One customer even told us about a cat that walked across their keyboard and deleted vital files.” The problem is that most of the senior IT managers and engineers might understand the issue at some level but most businesses are not even aware of the risk they are facing and things might go wrong without having the option of backing up.

However, with the rapid switching of businesses to cloud-based services comes a wide range of threats as well, that includes human error, cyberattacks, and ransomware, but other than these reasons there are numerous reasons for any company to require backup and recovery services.

Mike Potter said, “Cyberattacks and ransomware are certainly an increasing business threat, but the reasons we still most often hear about are eliminating the labor cost of manual restores; compliance for designations such as SOC2HIPAA, or ISO; data or business continuity; and protecting intellectual property.” John True, Insight Partners Operating Partner believes modern business demands cloud software to store all the needed data, and the demand for cloud software gives rise to the need for cloud backup and recovery tools.

According to him, the high demand for cloud software will be eventually growing in the upcoming years and so will the recovery business he added, “We see Rewind as a pillar of the cloud backup and recovery space,” he added. To fuel up the product development process in the future to cover more applications and raise awareness about the security of data and the need to back up cloud and SaaS-based apps Rewind will use its funding.

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