Danish data protection provider Keepit secures €36.5 million in refinancing to further expand data protection cloud
Danish data protection provider Keepit has secured a €36.5 million refinancing package to fuel its expansion plans. The funding comes from HSBC Innovation Banking and The Export and Investment Fund of Denmark (EIFO), allowing Keepit to invest in international expansion, hiring, business operations, and product development.
Keepit, founded in Copenhagen in 2007, specializes in SaaS backup and recovery. It is the world’s only vendor-independent cloud dedicated to SaaS data protection. This newly secured financing follows Keepit’s successful Series A funding round of $30 million in 2020 and $22 million debt financing in 2022.
The fresh capital will enable Keepit to continue its growth trajectory and pursue its substantial expansion strategy. The company plans to introduce innovative products and advance its platform development for cutting-edge data protection solutions.
Morten Felsvang, CEO and co-founder of Keepit, expressed his pride in having the continued support of HSBC Innovation Banking. Felsvang stated that the refinancing not only strengthens Keepit’s capital structure but also demonstrates confidence in the company’s capabilities. He affirmed that the funds will propel Keepit’s growth strategy.
Keepit has utilized debt facilities to enhance its go-to-market strategy. This includes expanding into new markets, targeting enterprise-scale clients, and strengthening its partner program. These initiatives highlight Keepit’s commitment to solidifying its position within the global data protection industry.
Jean-Laurent Pelissier, Managing Director and Head of Enterprise Software at HSBC Innovation Banking UK, expressed delight in continuing the relationship with Keepit. Pelissier emphasized that the new facility will support Keepit in expanding its presence in new geographies, growing its team, and innovating across its product offering. He acknowledged the partnership’s long-term nature and expressed pride in contributing to Keepit’s journey alongside EIFO.
This funding milestone will enable Keepit to capitalize on growth opportunities, cement its market position, and deliver state-of-the-art data protection solutions to businesses worldwide. With the support of HSBC Innovation Banking and EIFO, Keepit is well-equipped to pursue its ambitious expansion plans.
