Spanning Enters Next Phase of Growth With Acquisition by Insight Venture Partners
We’re excited to announce Spanning has entered the next phase in our evolution as a company. This week, we were acquired by Insight Venture Partners, a leading private equity firm with an emphasis on growth stage SaaS companies.
This acquisition will allow us to realize our full potential as a SaaS data protection provider with an optimized go-to-market model and world-class product innovation. While we will miss being part of the Dell EMC family, we will remain close strategic partners. Dell EMC will continue to sell Spanning Backup through their direct salesforce and channel partners.
Fortune covered the news here. Below, our perspective.
SaaS Data Protection Becomes Mainstream
As I return to my role as CEO and look towards Spanning’s future, I see tremendous growth potential for cloud-based data protection for SaaS applications.
We’ve seen organizations of all sizes and across various industries harness the power of the cloud and use SaaS applications such as G Suite, Office 365 and Salesforce. According to the 2016 Cloud Adoption report, 59 percent of organizations worldwide have deployed Office 365 and G Suite. The marked increase in SaaS adoption has lead to a greater awareness that companies are responsible for protecting themselves against data loss due to user errors and malicious activity such as ransomware attacks.
The conversation about SaaS data protection has shifted dramatically in the seven years Spanning has been in business. In the early days, we had to convince prospects that they really could lose data that their SaaS vendors couldn’t recover for them. We’ve now reached a point where organizations acknowledge that data loss is a real possibility and it’s their responsibility to protect the company’s critical SaaS data.
Today, both internal and external audit teams require companies to have a SaaS backup and recovery plan in place so they can bounce back quickly in the event of a data loss.
Data recovery and restore is critical to operational efficiency and the true value of Spanning Backup is in the restore process. Spanning protects more than 1.5 billion data objects for our 7,000 valued customers each week and restored roughly 18 million items for customers in 2016.
Insight has a long track record of success with SaaS-based, high-growth stage companies such as Altyrex, Docker, Quest Software, Shopify, Smartsheet and SolarWinds. They will provide Spanning with the resources it needs to continue to lead the SaaS data protection market. Spanning will have access to Insight’s go-to-market expertise, investment model and strong roster of similar portfolio companies. Together with Insight, Spanning will be better prepared to help organizations around the world protect critical SaaS data with industry-leading products.
“We believe Spanning has all the ingredients for continued success and market leadership – a great team devoted to customer success, innovative products, committed customers and a strong global presence,” said Philip Vorobeychik, Vice President at Insight.
The support from Insight gives us the freedom and fuel to continue to provide you with the best in SaaS data protection solutions and continue to grow stronger as we enter this new stage in our company’s journey.
Thank you to all the customers, employees, partners and advisors who have helped build Spanning to where it is today.
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