Prior to now, Rewind had raised a little over $15 million, most of which arrived via its series A round announced back in January. “But the reasons we still most often hear about are eliminating the labor cost of manual restores compliance for designations such as SOC2, HIPAA, or ISO data or business continuity and protecting intellectual property.” Demand “Cyberattacks and ransomware are certainly an increasing business threat,” he said. Moreover, with the rapid transition to cloud-based services comes myriad external (and internal) threats, including human error, cyberattacks and the growing scourge of ransomware, though Potter noted that there are numerous reasons its customers cite for requiring data backup and recovery services. “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. “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,” Rewind cofounder and CEO Mike Potter told VentureBeat. Gartner forecasts global “public cloud end-user spending” to grow 18% in 2021, of which SaaS remains the largest segment - it’s estimated to hit $117.7 billion this year, up from $101 billion in 2020. And that, ultimately, is what Rewind is set up for - it’s about “versioning,” giving SaaS app users the control to restore any files or data to a specific date and time. While there may be some alternative solutions available to customers looking to backup their data in SaaS apps such as Trello, they are normally resource-intensive endeavors - and they won’t make it easy to restore the data in the event of a disaster. However, the customer themselves are still responsible for the security and management of individual accounts on their own instance, including password management, permissions, and backing up data. Shopify) is obliged to provide infrastructure-level disaster recovery and security, so that in the event of a systemwide catastrophe it can reinstate all its customers’ accounts in one fell swoop. The “problem” that Rewind and its ilk are striving to solve is that most SaaS platforms operate what is known as a “shared responsibility” model, whereby the platform owner (e.g.
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