Revert raises $1.2M in second round funding

Revert raises $1.2M in second round funding

April 16, 2015

New Zealand-based cloud backup specialist Revert has secured a further $1.2 million in funding bringing the total funding received to date to over $1.6 million.

The investment round was led by Punakaiki Fund, who were joined by leading technology sector investors, existing investors, and Founder / CEO, Rich Chetwynd.

Revert is growing rapidly and currently backs up over 90 million files (over 80TB of data). With 5,800 active users on board in only four months, it has a solid growth path ahead.

“Our latest round of investment enables us to extend our proven backup solution out to more SaaS applications and to introduce intelligent new data monitoring and security features,” says Rich.

Currently, Revert provides backup services for many of the major cloud providers – Google Drive, Dropbox, Evernote, and MailChimp among others - while working on solutions for more business-focused apps like Salesforce and Box.

“Moving to the cloud led many people to stop worrying about backup services. Unfortunately, being in the cloud doesn’t mean your data is immune to data loss, theft, and security breaches. Having a backup of your cloud-based data is a great first step and we are expanding on that vision,” says Rich.

However, Rich says the real strength of Revert’s offering lies in proactive management of data security.

“We can see when someone is accessing cloud-based data and identify the theft or sharing of confidential information among other things. Being able to see that kind of activity and respond before it becomes a problem is a new frontier for data security, and Revert will be at the forefront of that movement.”

Rich expects this kind of capability to extend Revert’s reach into the corporate and business markets and the new funding will help drive the company in this direction.

Lance Wiggs from Punakaiki Fund said “it’s not the first time at the rodeo for Rich, Nicole or their investors and advisors, and they have identified a genuine unmet need in the market. The product is working well and with the addition of enterprise features we agree that the future looks extraordinarily strong. "

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