OwnBackup buys US software co RevCult

OwnBackup Photo: Buxa

The acquisition is OwnBackup’s latest step toward growing its data protection platform.

Israeli cloud data protection platform OwnBackup today announced the acquisition of RevCult, a California-based software company that provides Salesforce security and governance solutions, often known as SaaS Security Posture Management (SSPM). No financial details about the deal were disclosed.

OwnBackup was founded by Israelis Ariel Berkman (CTO) and Ori Yankelev (EVP Global Sales), with US entrepreneur Sam Gutmann (CEO). Two other founders, Eran Cohen and Daniel Gershuni, left the company at an early stage. The company is headquartered in the US and has its development activity in Israel. The company has 500 employees including 120 in Israel. Earlier this month OwnBackup raised $240 million at a company valuation of $3.35 billion.

RevCult's SSPM helps organizations more easily secure data that is growing in volume, velocity and variety, as well as avoid exposure by continuously scanning for and eliminating configuration mistakes and mismanaged permissions, which are the top causes of cloud security failures.

Gutmann said, "Although we’ve equipped customers to be more resilient with proactive data backup, monitoring, compare and restore capabilities, many of the problems we help them recover from are preventable through the addition of proactive SSPM. The addition of RevCult will allow us to innovate faster in the cloud and protect customers against the primary security issues that lead to data loss and corruption, such as lax permissioning, social hacking, insider threats, poor physical security controls and other vulnerabilities."

The announcement is OwnBackup’s latest step toward growing its data protection platform and empowering customers to own and protect their data on any cloud platform. The RevCult acquisition follows the recent purchases of Nimmetry, a SaaS data management company, as well as Merlinx, a top cybersecurity firm based in Tel Aviv.

RevCult founder and CEO Andreas Schenck said, "We’ve partnered with OwnBackup for several years providing SaaS data protection, and we couldn’t be happier to officially be part of their team at this high-growth stage. I’m excited to take the product to the next level to provide even more value to customers."

OwnBackup has nearly 4,000 customers across every industry, such as AECOM, Aston Martin, Ciena, Delivery Hero, Guidewire Software, the Make-A-Wish Foundation, Medtronic, Navy Federal Credit Union, Singapore Economic Development Board and the University of Miami.

Published by Globes, Israel business news - en.globes.co.il - on August 31, 2021

Copyright of Globes Publisher Itonut (1983) Ltd. 2021

OwnBackup Photo: Buxa
OwnBackup Photo: Buxa
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