Keepit, a Denmark-based provider of SaaS data protection solutions, has revealed a $40m refinancing package facilitated by HSBC Innovation Banking in collaboration with The Export and Investment Fund of Denmark (EIFO).
The fresh funding injection will enable Keepit to allocate capital towards international expansion, recruitment, operational enhancements, and further advancements in its SaaS data protection platform as part of its ongoing scaling efforts.
The refinancing package comes on the heels of Keepit’s $30m Series A funding round in 2020. Furthermore, the company secured a total of $22m in debt financing in 2022, involving Silicon Valley Bank UK, now part of HSBC Innovation Banking, and Vækstfonden, which is now the EIFO.
HSBC Innovation Banking UK managing director and enterprise software head Jean-Laurent Pelissier said: “We’re delighted to continue our relationship with Keepit by providing this new facility, which will support Keepit to further its presence across new geographies, grow its team and innovate across its product offering.
“Our agility, expertise, international and robust network is also helping businesses like Keepit to scale and open up a world of opportunity as they reshape our world. This is an exciting milestone in our long-term partnership with Keepit and we’re proud to be part of this next step in the company’s journey alongside the EIFO.”
Founded in Copenhagen in 2007, Keepit is said to be the world’s only vendor-neutral and independent cloud specialising in SaaS data protection, supported by a blockchain-verified solution. Its platform safeguards data across crucial business applications, such as Microsoft 365, Microsoft Azure AD, Google, and Salesforce.
The company plans to utilise the newly acquired capital to maintain its current growth trajectory and uphold its significant expansion strategy.
Keepit said that the debt facilities play a crucial role in strengthening its offerings for long-term sustainability. Its key allocations include enhancing the go-to-market strategy, encompassing market expansion, targeted outreach to enterprise-scale clients, and the augmentation of the partner programme.
Keepit CEO and co-founder Morten Felsvang said: “We are very proud to have the continued backing of HSBC Innovation Banking.
“This refinancing is a long-term commitment – it not only strengthens our capital structure but is an infusion of confidence in our capabilities on all levels. And it means that we can continue our growth strategy at full throttle.”
