Cofounded by Ukrainian Dmitry Dontov Spin Technology, a data protection software vendor catering to enterprise clientele, today announced that it raised $16 million in a Series A round led by Blueprint Equity with participation from Santa Barbara Venture Partners and Blu Venture Investors.
- The fresh capital — which values Spin at $55 million post-money — will be put toward supporting growth, expanding Spin’s software-as-a-service (SaaS) offerings, and growing the startup’s marketing, sales and engineering teams.
- the platform can detect ransomware across platforms including Google Workspace, Microsoft Office 365 and Salesforce, performing automatic risk assessments and backups and allowing users to create policies that dictate access management.
- To date, Spin, which claims to have more than 1,600 customers, has raised $18 million in venture capital. Previously, Ukrainian AVentures Capital and TMT Investments funded the startup.
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