A European SaaS data protection firm has revealed its UK plans after securing around 拢31 million in a refinancing package with HSBC Innovation Banking.
Keepit, founded in 2007 in Denmark, reached 拢675,000 in net new annual recurring revenue in the UK for last fiscal year.
CEO and co-founder Morten Felsvang told 老九品茶Cloud that to date it has served the UK out of its Copenhagen headquarters, but recently opened an office in the heart of London.
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鈥淭he London team is currently seven people, but we are hiring additional staff and will have 10 team members by the end of calendar Q2,鈥� he said.
鈥淭he UK has a robust and ever-growing tech landscape that has always embraced leading edge technology and will deliver significant growth to Keepit over the coming 12-18 months and beyond.
鈥淥ur target for this year – which we are on track to achieve – is in excess of 拢1.5m net new ARR. We have doubled the team and will increase the headcount by a further 25%.鈥�
HSBC Innovation Banking provided the refinancing package in partnership with The Export and Investment Fund of Denmark (EIFO). It follows Keepit鈥檚 $30m Series A funding round in 2020, and a total of $22m debt financing in 2022 from Silicon Valley Bank UK, now HSBC Innovation Banking, and V忙kstfonden, now the EIFO. This followed almost two decades of boostrapping.
A leader in SaaS backup and recovery, it is described as the world鈥檚 only vendor-independent cloud dedicated to SaaS data protection.听
Felsvang told us that Keepit would launch a new partner programme in the UK later this month.
鈥淥ur strategy is 100% partner centric, and we are very grateful to the support from our existing partners,鈥� he added. 鈥淲e look forward to further strengthening our position in the UK market and welcoming new partners in 2024.鈥�
Jean-Laurent Pelissier, managing director and head of enterprise software at HSBC Innovation Banking UK, added: 鈥淲e鈥檙e delighted to continue our relationship with Keepit by providing this new facility, which will support Keepit to further its presence across new geographies, grow its team and innovate across its product offering.听
鈥淥ur agility, expertise, international and robust network is also helping businesses like Keepit to scale and open up a world of opportunity as they reshape our world. This is an exciting milestone in our long-term partnership with Keepit and we鈥檙e proud to be part of this next step in the company鈥檚 journey alongside the EIFO.鈥�