Cloud-Based Spanning Google Apps Finishes Series B Funding with $6M
March 21, 2013
By Colleen Lynch, TMCnet Contributor
The company behind Spanning Backup for Google (News - Alert) Apps, the enterprise-class data protection solution built to work via the cloud as opposed to traditional desktop-based solutions, has finished its series B funding campaign, and quite successfully.
Yielding more than $6 million led by an anonymous strategic investor, Spanning Cloud Apps, Inc. now has a total raised capital of $9 million over the last two years since its inception in 2010.
Charlie Wood, Spanning’s founder and CEO, commented on the achievement; “The infusion of capital will allow us to accelerate the build-out of our direct sales team and reseller channel, while extending the product lead we’ve established over our competitors. It also provides us with an important strategic partner.”
Spanning’s existing Colorado-based investor, Foundry Group LP, contributed significantly to the company’s series B funding round as well.
With the additional capital the company now has, Spanning executives plan to increase their employees from 20 to 50 by the end of 2013, and accommodate the growing migration rate of businesses to Google Apps (5,000 businesses migrate to Google Apps each day).
With more than 50 million businesses actively using Google Apps today, Spanning is targeting a market that will continue to need backup solutions, and is starting to show a preference for the cloud.
“Spanning’s cloud-to-cloud backup solution solves a critical issue for leading organizations worldwide whose data is at risk,” explained Seth Levine, managing director for Foundry Group and member of the board for Spanning.
Levine added his company’s reason for investing in Spanning, attributing it to their strong confidence in the company’s leaders.
“This leadership team has extensive experience in Google Apps and a deep track record of success in enterprise software. They are building the right culture and have a great vision for growing their business,” said Levine.
Specific features of Spanning’s solution include backup recovery for the complete Google Apps suite, which includes Gmail, Drive, Sites, Calendar and Contacts, as well as a secure cloud-to-cloud environment for data protection and SSAE 16 Type II audited processes for added assurance.
For more information on Spanning Cloud Apps, Inc. and its comprehensive offerings, click here.
Edited by Braden Becker