AVentures Capital invests USD 0.5mln in startup Spinbackup

AVentures Capital invests USD 0.5mln in startup Spinbackup

The startup Spinbackup backs up data in clouds

Domestic investment fund AVentures Capital invested USD 0.5mln into data bakup from the cloud Spinbackup. The terms of the deal were not disclosed, but the experts assume it can stand for 10-25% in the startup equity.

Spinbackup creates services for users of clouds such as G Suite and Office 365. The team plans to develop similar products for other popular cloud services.

Spinbackup was founded in 2013 by Dmitry Dontsov, the present time CEO of the company. The team consists of 25 people. The companys development offices are located in Kyiv and Odessa, and the sales offices operate abroad including the US market. Spinbackup is an official Google partner. The companys products are listed in the Google G Suite Marketplace.

AVentures Capital invests USD 0.5mln in startup Spinbackup

Spinbackup sells services for automatic backup of data from the clouds, recovery of lost data, migration of data, as well as products for cybersecurity (protection from data leakage, audit of the behavior of users of cloud services, etc.). The servers of the company store approximately 200 TB of data.

About 1000 organizations use the services. The company claims that the user base is growing at 15% rate a month. Most of them are medium and small businesses, as well as universities, such as the University of Tokyo, Gurnick Academy of Medical Arts and others.

The main income of the company are coming from subscriptions. So, for example, the backup service for G Suite costs USD 5 a month from per user.

The raised funds will be channeled into development of additional functionalities, expanding of partner networks, establishing the sales channels, and increasing the team, etc, told Andrey Kolodyuk, the managing partner of AVentures Capital.

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