Ottawa-based Rewind has adjusted its fundraising plans and laid off about 27 percent of staff after seeing lower-than-anticipated growth, BetaKit has learned.
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Ottawa cloud backup startup Rewind raises $19 million CAD Series A
Ottawa-based Rewind has closed a $19 million CAD ($15 million USD) Series A round of financing as it looks to capitalize on and expand its “backup-as-a-service” business.
The almost six-year-old startup has developed a platform that helps businesses backup and restore (if needed) their software-as-a-service (SaaS) and cloud data.
The Series A round represents significant financing for the startup as it looks to grow its customer base within the platforms it currently operates on, like Shopify and BigCommerce, as well as new platforms like Trello.
“Rewind provides solutions that are pivotal to the growth and proper utility of the cloud.”