Spanning Cloud Apps, a provider of SaaS data protection, has been acquired by affiliates of Insight Venture Partners, a global venture capital and private equity firm investing in software, internet and data services companies.
Dell EMC, which acquired Spanning in October of 2014, will remain a Spanning strategic partner and continue to sell Spanning Backup around the world as part of its data protection product portfolio. Spanning Cloud Apps, LLC will become an independent company operating under the Spanning brand in Austin, Texas.
Terms of the deal were not disclosed. Jeff Erramouspe, who previously served as VP and general manager of Spanning, will return to his role as CEO, which he held before Spanning’s acquisition by EMC. Mike Pav, previously Spanning’s VP of engineering, will become SVP of operations, and all current employees will remain with the company.
According to the companies, Spanning has experienced more than 70% year-over-year revenue growth and has a growing roster of more than 7,000 customers. The company’s growth drivers include its global data center expansion, an increased percentage of large enterprise deals and distribution agreements with major channel partners.
Insight has seen a marked increase in SaaS adoption in the enterprise, especially in large and mid-market organizations, said Philip Vorobeychik, vice president at Insight. And, along with that trend, there is also a greater awareness of the fact that companies are responsible for recovery of data lost due to user error or malicious activity.
Spanning recently announced an extension of Spanning Backup’s global data protection for Office 365 in Australia and New Zealand, adding to the company’s existing overseas data center, serving EU Office 365 users, based in Dublin, Ireland. Spanning also remains the industry’s only backup solution that offers “a 100% G Suite restore guarantee,” as well as a “must have app” for Salesforce users for its Spanning Backup for Salesforce offering.