BackHub Has Over 1,000 Customers
Rewind’s acquisition extends their business coverage to source code backed up to GitHub. BackHub, a backup service for GitHub, currently protects data for over 1,000 customers. According to AiThority, GitHub has over 40 million business users, and a majority of Fortune 500 businesses use it.
Founded in 2014, Backhub offers three pricing tiers: Pro (i.e., $250 per month for 350 repositories), Enterprise (i.e., $400 per month for 350 repositories), and Private Instance.
Rewind Helps Large Businesses Backup Their Data
Rewind is used by 80,000 customers around the world. Their customers include Badgley Mischka (women's designer clothes), Charmin (a Proctor & Gamble brand), Magnolia, Pampers (a Proctor & Gamble brand that generated $10 billion in revenue in 2019), and Paul Mitchell.
High Business Growth During the Pandemic
Like other Internet businesses, Rewind is seeing strong growth throughout the pandemic. “Interest went up for all our products in the past year. When we launched Copy for Quickbooks Online has done well, our solutions for QuickBooks Online has driven most of the growth for us,” Mike Potter, co-founder and CEO of Rewind, told Startup Savant.
Rewind Enters a $100 Million Backup Customer Segment
Supporting data backup for Quickbooks Online gives Rewind access to a large customer segment. As of 2021, there are more than five million Quickbooks Online customers. Since Quickbooks Online includes critical business data like income, expense, and tax data. Assuming the business signs up 10% of global Quickbooks’s customers for backup customers, the startup company could generate over $100 million in additional revenue.
Beyond Quickbooks, Rewind also has specialized backup services for Shopify (stock ticker: TSE: SHOP), BigCommerce (NASDAQ: BIGC), and Trello (owned by Atlassian Corporation, NASDAQ: TEAM).
The Investors Who Support Rewind
Growth for the data backup company is supported by multiple investors. The startup company has received $15.1 million in total funding from investors.
Key investors in Rewind include Inovia Capital (a Montreal venture capital investor that has invested in more than 200 companies) and ScaleUP Partners (a Toronto-based venture capital company that has invested in thirty businesses). ScaleUP Venture's portfolio includes Wysdom AI (an AI as a service startup), SortSpoke, and Sonder.
The Multi-Billion Dollar Backup as a Service Industry
The backup as a service (BaaS) industry is already worth billions of dollars. According to Markets and Markets data, the global backup as a service industry is already worth $1 billion in 2017. Major companies in the cloud backup industry include Datto, Carbonite, Microsoft, and IBM.
About the Author
Bruce Harpham is an author and marketing consultant based in Canada. His first book, "Project Managers At Work," shared real-world success lessons from NASA, Google, and other organizations. His articles have been published in CIO.com, InfoWorld, Canadian Business, and other organizations. Visit BruceHarpham.com for articles, interviews with tech leaders, and updates on future books.