Keepit Raises $30 Million in Series A

Founded in 2007, the Danish backup-as-a-service provider Keepit raises $30 million from investor One Peak to position the firm as the category leader in a $12 billion underserved market, with the goal of increasing momentum both in Europe and USA.

The round is the single largest SaaS investment in a bootstrapped company in the Nordics, according to Crunchbase writing that total investment into reached $41.3 million.

The firm is specializing in protecting data from SaaS solutions such as Microsoft 365, Salesforce, Dynamics 365, and G Suite. This is a market worth $12 billion per year which is expected to continue growing at a 30% CAGR over the next 5 years.

“We are excited to back Keepit and its founders as we share their view that there is a huge global opportunity in data protection and recovery, driven by the accelerating move to the cloud. Keepit has a unique technology stack, a strong infrastructure footprint, and is led by two world-class repeat entrepreneurs – Morten and Frederik – who have multiple successful exits on their CV and a proven ability to execute,” says David Klein, managing partner, One Peak.

“We are thrilled to partner with the One Peak team. The cloud backup market is a market with a few, but large, global players, and we need to build awareness and trust for our future customers, which is now possible with the support of One Peak,” says Frederik Schouboe, CEO and co-founder, Keepit.

Doubling the headcount
With the investment from One Peak, the company expects to double the numbers of employees in its offices in Copenhagen, Denmark and Lviv, Ukraine, as well as their satellite offices around the world, including USA, with the goal of spreading awareness of its solutions globally.

As the market for cloud solutions continues to grow, so does the necessity for cloud-based data protection and backup solutions. The larger cloud providers offer uptime and data protection vs. intruders but do not offer a built-in backup solution of the SaaS data, should anything happen to it. This is often not known by companies with data in the cloud until it is too late.

This makes backup-as-a-service a massive market as every end customer utilizing a cloud solution needs third-party backup. Creating backup of cloud data can be a tedious task, but Keepit provides a fast, reliable, and easy-to-use solution for its customers with its Backup-as-a-Service software.

“We believe that we have the most secure, most agile and scalable solution in the market when it comes to data protection of cloud data. With the support of One Peak, we can continue our amazing growth journey in Europe and in the US where we just signed our biggest client yet, protecting its more than 30,000 employees,” says Schouboe.