Spin Technology Raises $16M in Series A Funding

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Spin Technology, Inc.a Palo Alto, Calif.-based developer of a SaaS data protection platform for mission-critical SaaS applications, closed a $16 million Series A funding.

The round was led by Blueprint Equity with participation from Santa Barbara Venture Partners and Blu Venture Investors. Along with the funding, Sheldon Lewis of Blueprint Equity, Dan Engel of Santa Barbara Venture Partners and Robert Struble of Blu Venture Investors will serve on Spin’s board.

The company intends to use the funds to accelerate growth, expand its SaaS offerings, and expand 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 applications. SpinOne is a combination of four innovative offerings, including:

  • Ransomware Monitoring and Response – Automated ransomware protection for SaaS environments that provides 2-hour incident response against ransomware attacks on SaaS data, reducing recovery costs by up to 90%.
  • Application Risk Assessments – Automated risk assessments of SaaS cloud applications and browser extensions reducing manual efforts for SecOps teams and helping enterprises strengthen their cybersecurity posture.
  • Data Leakage Prevention (DLP) – Understand what data is shared in the cloud and with whom, and gain complete visibility into your critical data in the cloud.
  • Backup and Recovery – Compliance-compliant, enterprise-grade backups to secure cloud environments with versioning and granular recovery capabilities.

The dashboard, which extends security to multiple environments including Google Workspace, Microsoft Office 365, and Salesforce, provides a single view of cybersecurity and data protection to SaaS cloud environments powered by artificial intelligence (AI) and next-generation machine learning (ML). Additionally, the company provides tools to address modern cybersecurity challenges in SaaS cloud environments.

SpinOne provides SaaS cyber defense, management and data protection to over 1,600 organizations worldwide.

EndSME

08/11/2022

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