In a significant stride towards expanding its global footprint, Copenhagen-based Keepit, a leader in SaaS backup and recovery, has recently secured a substantial €35.5 million refinancing package. This financial boost, led by HSBC Innovation Banking in partnership with The Export and Investment Fund of Denmark (EIFO), marks a pivotal point in Keepit’s journey, laying the groundwork for an aggressive international expansion.
Keepit, established in 2007 in Copenhagen, has carved a niche for itself as the world’s only vendor-independent cloud dedicated to SaaS data protection. This fresh influx of capital comes on the heels of a successful $30 million Series A funding round in 2020 and a total of $22 million in debt financing in 2022 from Silicon Valley Bank UK (now part of HSBC Innovation Banking) and Vækstfonden (now EIFO).
This new financing is not just a testament to Keepit’s robust business model but also a strategic move to fuel its growth trajectory. The company plans to channel these funds into various key areas, including product development, hiring, business operations, and, most importantly, international market penetration. This move is in line with Keepit’s mission to enhance and expand its market-leading platform for SaaS data protection.
Morten Felsvang, CEO and co-founder of Keepit, expressed pride and gratitude for the continued support from HSBC Innovation Banking. He emphasized that this refinancing goes beyond financial aid – it’s a stamp of confidence in Keepit’s capabilities and an accelerator for the company’s growth strategy.
The allocation of these funds is strategic, focusing on bolstering Keepit’s offerings and ensuring long-term sustainability. Significant investments have been made towards enhancing the company’s go-to-market strategy. This encompasses expanding into new markets, reaching out to enterprise-scale clients, and augmenting its partner program. These initiatives are pivotal in strengthening Keepit’s foothold in the global data protection landscape.
Jean-Laurent Pelissier, Managing Director and Head of Enterprise Software at HSBC Innovation Banking UK, shared his enthusiasm for this continued partnership. The new financial facility is expected to propel Keepit’s presence across new geographies, aid in team expansion, and foster innovation in product offerings. HSBC’s agility, expertise, and robust international network are vital in supporting businesses like Keepit to scale and seize global opportunities.
Echoing this sentiment, Anders Christian Andersen, Senior Director at EIFO, highlighted the critical role of cybersecurity in today’s risk-laden global landscape. Keepit, according to Andersen, offers an effective solution for businesses worldwide to securely back up their data. EIFO’s involvement in this refinancing package, alongside HSBC Innovation Banking, reaffirms their trust in Keepit’s potential for further growth.
In conclusion, Keepit’s latest financial achievement is a remarkable milestone, setting the stage for an exciting phase of expansion and innovation. With a solid financial backing and a clear vision for the future, Keepit is well-positioned to redefine the boundaries in the world of cloud data protection and SaaS backup solutions. As the company embarks on this new chapter, the tech and business communities alike are keenly watching its trajectory, anticipating the impact it will have on the global data protection industry.
