Keepit, a leader in SaaS backup and recovery, announced today a significant $40 million refinancing package from HSBC Innovation Banking and The Export and Investment Fund of Denmark (EIFO). This strategic financial move is set to accelerate the company's international expansion, hiring, operations, and product development.
Established in 2007, Keepit has become a distinguished name in the cloud data protection sector. Following a $30 million Series A in 2020 and $22 million in debt financing in 2022, this new infusion from HSBC and EIFO marks a pivotal moment for the Copenhagen-based company. The funds are earmarked for bolstering Keepit's ambitious growth plans and enhancing its innovative product offerings in the data protection space.
Morten Felsvang, CEO and co-founder of Keepit, expressed his enthusiasm about the new partnership: "We are very proud to have the continued backing of HSBC Innovation Banking. This refinancing is not just financial support; it's a vote of confidence in our vision and capabilities. It propels our growth strategy at full throttle."
Jean-Laurent Pelissier, Managing Director at HSBC Innovation Banking UK, highlighted the synergy in this collaboration: "We’re excited to support Keepit's expansion into new markets, growing its team, and innovating its product line. Our international network and expertise are catalysts for businesses like Keepit, opening up a world of opportunities."
Anders Christian Andersen from EIFO reflected on Keepit's journey: "Cybersecurity is a critical global issue, and Keepit's solutions are vital for businesses worldwide. Our involvement since 2019 and participation in this refinancing package reaffirms our trust in Keepit's potential for further growth."
The funding will also support Keepit's go-to-market strategy, including geographic expansion, reaching enterprise-scale clients, and enhancing its partner program. These steps are integral to Keepit's mission to solidify its position in the global data protection industry.
As the world grapples with increasing cybersecurity risks, Keepit's role becomes ever more crucial. With the backing of HSBC Innovation Banking and EIFO, Keepit is well-positioned to lead the charge in providing robust and innovative data protection solutions for businesses across the globe.