Keepit secures $50 million to boost global expansion

Keepit has announced the closure of a $50 million funding round to support global expansion and product development efforts.

The recent investment was led by existing investor One Peak and the Export and Investment Fund of Denmark (EIFO) and brings the total funds raised by the cloud-native data protection and backup provider to approximately $90 million. This marks Keepit's third equity investment in four years and reinforces its prominent role in the software-as-a-service (SaaS) data protection sector.

Keepit plans to utilise the new funding to advance its go-to-market activities and to intensify product innovation. The firm aims to further enhance its dedicated infrastructure for vendor-independent SaaS data protection. Currently serving 5 million users worldwide, Keepit intends to accelerate its global presence, with a focus on key markets such as the United States and Europe, in addition to strengthening its partner network.

The funding will also be used to introduce broader workload coverage and additional data management capabilities, aimed at empowering organisations to secure their SaaS data more effectively. This is part of Keepit's strategy to deliver cutting-edge cloud-native solutions.

"Our commitment to innovation and solving our customers' most pressing data protection challenges is what drives us forward," stated Morten Felsvang, Keepit Co-founder and Chief Executive Officer, alongside Frederik Schouboe, Keepit Co-founder and Chief Vision Officer. "This new funding will allow us to expand our reach and continue innovating the most advanced SaaS data protection solutions on the market. We're thrilled to see such strong support from our investors, who understand our mission and share our vision for the future."

David Klein, Co-founder and Managing Partner at One Peak, praised Keepit's leadership and the company's consistent delivery on its objectives. "We have been continually impressed by Keepit's leadership and their unwavering ability to deliver on their vision. In a time when the need for secure, independent SaaS data protection is more critical than ever, Keepit stands out as a leader with its innovative platform. We are thrilled to continue supporting the Keepit team in this exciting next chapter of their growth journey," he mentioned.

Jacob Bratting Pedersen, Managing Director, Partner & Head of Tech & Industry at EIFO, highlighted the distinctiveness of Keepit's approach to data security. "Keepit's focus on cloud-native, vendor-independent data protection is what sets them apart. This investment is not just a financial decision for us—it's about supporting a company that is revolutionising the way organisations think about data security. We believe in their long-term vision and look forward to contributing to their continued success," he commented.

Keepit provides a SaaS data protection platform purpose-built for the cloud. Securing data in a vendor-independent cloud safeguards essential business applications, boosts cyber resilience, and future-proofs data protection. Unique, separate, and immutable data storage with no sub-processors ensures compliance with local regulations and mitigates the impact of ransomware while guaranteeing continuous data access, business continuity, and fast and effective disaster recovery. Headquartered in Copenhagen with offices and data centres worldwide, over ten thousand companies trust Keepit for its ease of use and effortless backup and recovery of cloud data.