Rich Chetwynd, Revert founder and CEO, says that the latest round of investment has been about more than simply urging investors to cough up capital.
“When we went into this we started thinking about who we should talk to, and who the people were who could bring more than just money to the table”.
“The process for us has been about talking to those people about how they can help out and forming those relationships in a strategic way, rather than just saying ‘we want your money’.”
Revert supplies of cloud backup services to storage-intensive tech-players such as Google Drive, Dropbox, Evernote and MailChimp and currently backs up over 90 million files (80TB+ of data).
The latest round of investment, led by Punakaiki Fund, brings Revert’s total raised to date to over $1.6 million.
“It’s not the first time at the rodeo for Rich,” says Lance Wiggs, Punakaiki Fund director/manager. “The product is working well and with the addition of enterprise features we agree that the future looks extraordinarily strong."
Rich says the latest round of funding will enable Revert to extend its reach from a purely storage focus into new SaaS applications including intelligent data monitoring and security for the corporate and business markets.
“Backup is just one way of protecting data,” he says. “But we can see when data’s being lost, and that’s the area we’re pushing into. It’s that security world in a sense – monitoring, auditing the data – and alerting people when suspicious activity is occurring. It’s almost ‘security as a service’.”
“We’d already created a lot of the technology, but didn’t realise we were sitting on it,” he says. “We just realised that we had a whole lot more value to add.”