OwnBackup announced the acquisition of RevCult, a California-based software company that provides Salesforce security and governance solutions, often known as SaaS Security Posture Management (SSPM). SSPM helps organizations more easily secure data that is growing in volume, velocity and variety by continuously scanning for and eliminating configuration mistakes and mismanaged permissions, which are the top causes of cloud security failures.
While SaaS providers have invested heavily in solidifying their own security posture, data resiliency and security remain real and present concerns for all companies leveraging cloud services. In addition to external security breaches, the overwhelming majority of cloud security failures and resulting data loss are actually the customer’s responsibility, according to Gartner.
“Although we’ve equipped customers to be more resilient with proactive data backup, monitoring, compare and restore capabilities, many of the problems we help them recover from are preventable through the addition of proactive SSPM,” said Sam Gutmann, CEO of OwnBackup. “The addition of RevCult will allow us to innovate faster in the cloud and protect customers against the primary security issues that lead to data loss and corruption, such as lax permissioning, social hacking, insider threats, poor physical security controls and other vulnerabilities.”
The announcement is OwnBackup’s latest step toward growing their data protection platform and empowering customers to own and protect their data on any cloud platform. The RevCult acquisition follows the recent purchases of Nimmetry, a SaaS data management company, as well as Merlinx, a top cybersecurity firm based in Tel Aviv. And just this month, OwnBackup announced a $240 million Series E at a $3.35 billion valuation. These actions tell a compelling story of the growing need for SaaS data protection and OwnBackup’s position as the clear leader in the category.
“We’ve partnered with OwnBackup for several years providing SaaS data protection, and we couldn’t be happier to officially be part of their team at this high-growth stage,” said Andreas Schenck, CEO and Founder of RevCult. “I’m excited to take the product to the next level to provide even more value to customers. Not only do both companies share a passion for protecting companies’ SaaS data, but the company’s culture and values align well with OwnBackup.”
Nearly 4,000 customers trust OwnBackup across every industry, such as AECOM, Aston Martin, Ciena, Delivery Hero, Guidewire Software, the Make-A-Wish Foundation, Medtronic, Navy Federal Credit Union, Singapore Economic Development Board and the University of Miami.