Venture Capital firm Runa Capital has led a $2 million investment round in BackupAgent, the leading provider of cloud backup technology from The Netherlands. The rapidly growing company sold a minority stake and obtained access to Runa Capital's unique network in hosting universe for strengthening global market presence. Also, the investment will help with further development of its software platform with a central, browser-based management interface to manage all backups across cloud services and devices in company networks. Previous investor Solid Ventures also participated in the financing.
BackupAgent’s cloud backup software is designed for service providers, hosting providers and telcos that want to offer a reliable, user friendly and fast backup service to their SME customers. The software is platform-agnostic and can handle large laptop/desktop environments as well as server farms with file- and database servers and virtual environments. The feature set fulfills all data security needs of a modern SME company. Unlike other cloud backup products, BackupAgent is not only designed to solve the backup challenges of SMEs, but also offers essential features for service providers, hosting companies and telcos, such as deep branding possibilities and an API for integration with any (third party) control panels.
Most importantly, the cutting edge technology eliminates all scalability barriers by offering unlimited distribution tiers for cloud service brokerage and allows deployments in both private and public clouds. The platform is currently deployed at more than 400 service providers, hosting companies and telcos over all continents, examples being KPN in The Netherlands or Portugal Telecom. The company has more than 35 thousand end-users globally.
"The market opportunity for cloud backup is huge, and BackupAgent has built an impressive technology platform to best serve this sector. Having strong business leadership within its headquarters in the Netherlands and an exceptional team of engineers in Ukraine, BackupAgent is a very attractive investment for us. It fits perfect with Runa Capital's mission to serve as an accelerator for the hosting and cloud industry, allowing us to further enhance our ecosystem for internet service providers", said Dmitry Chikhachev, Managing Partner of Runa Capital. "We are confident that our market and technical experience gained from building Parallels and Acronis will accelerate BackupAgent's growth towards global market leadership".
“It is exceptional to find a VC with such an extensive experience in the technology and products in fast growing markets like ours. Runa Capital entrepreneurial DNA includes strong backup experiences and a wealth of market knowledge in the service provider industry which we will greatly benefit from,” according to Roland Sars and Robbert van Geldrop, Founders of BackupAgent. “Runa Capital's team supports our vision is that data will be scattered across mobile devices, cloud services and company networks and business owners will require a backup solution that covers them all. Our next generation backup technology will anticipate this market development”.
According to Parallels SMB Cloud InsightsTM research, over 50% of SMBs plan to use cloud backup by 2016. Forrester's surveys suggest that MSPs and resellers are currently very interested in offering cloud-based backup services under their own brands hosted in their own data centers.
BackupAgent (backupagent.com) is a privately held company with headquarters in Delft, Netherlands. The cloud backup technology of BackupAgent is used by over 400 service providers, hosting companies and telcos in over 50 countries worldwide. BackupAgent was ranked 8th on the Deloitte Fast 50, the list of the fastest growing technology companies. The company's growth is guaranteed by developing a unique innovative solution and a successful partner model.
About Runa Capital
Runa Capital (runacap.com) is $135 mln technology-focused venture capital firm whose investments have created or incubated companies with more than US$10 billion in assets. It was established to seek growth opportunities in the rapidly growing areas of the tech sector, with specific focus on cloud computing and other hosted services, virtualization and mobile applications. The key execution point is to select promising teams and drive and support them in the global marketplace, turning them into international champions.