OwnBackup has acquired Salesforce security software company RevCult. The deal further converges SaaS-focused backup, disaster recovery (BDR), data protection and cybersecurity services. Financial terms of the deal were not disclosed.
This is technology M&A deal number 542 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
RevCult, based in San Diego, California, has 41 employees listed on LinkedIn. The company develops Salesforce security and governance solutions, often known as SaaS Security Posture Management (SSPM). SSPM helps organizations more easily secure data that is growing in volume, velocity and variety by continuously scanning for and eliminating configuration mistakes and mismanaged permissions, OwnBackup asserts.
RevCult's products include Cloud Security Cockpit for for proper Salesforce security controls, and Shield Security Cockpit for encryption management. The company also offers Salesforce Shield implementation services and Salesforce security risk assessments.
Meanwhile, OwnBackup is best known for its ability to back up customer data from the Salesforce.com cloud. But the company now plans to expand its service to support Microsoft Azure and Dynamics 365 cloud backup.
The RevCult acquisition surfaces less than one month after OwnBackup raised $240 million in Series E funding at a $3.35 billion valuation (estimated).
OwnBackup Acquires Salesforce Security Company RevCult: Executive Perspectives
In a prepared statement about the deal, OwnBackup CEO Sam 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.”
Andreas Schenck, CEO and founder of RevCult, added:
“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. Not only do both companies share a passion for protecting companies’ SaaS data, but the company's culture and values align well with OwnBackup.”
OwnBackup Growth: Organic and Acquisitions
In addition to organic customer expansion, OwnBackup has been navigating the M&A market.
Among the key moves: In June 2021, OwnBackup acquired Nimmetry, a data integration software company that partners closely with Adobe, Salesforce, ServiceNow and Workday. Financial terms of the deal were not disclosed.
Dig a littler deeper into that M&A announcement, and you’ll notice that OwnBackup also acquired data security firm Merlinx of Tel Aviv, Israel. Merlinx develops cyber intelligence solutions for law enforcement, intelligence agencies and national security organizations, according to that company’s LinkedIn profile.
Roll it all together, and OwnBackup now supports roughly 4,000 organizations worldwide.
Cyber Resilience and SaaS Security for MSPs
Admittedly, neither OwnBackup nor RevCult emphasize MSP relationships. But their business strategy reinforces major data protection and security trends in the MSP-centric technology market.
Indeed, multiple backup companies are building or buying their way into the security market (and vice-versa). The business combinations typically emphasize cyber resilience solutions that span data protection, endpoint protection and more.
Meanwhile, multiple technology startups have introduced monitoring, management and security tools for SaaS applications such as Microsoft 365, Google Workspace, Salesforce and more.
Cloud Security Posture Management (CSPM) for MSPs
Also of note: MSP-friendly security companies such as Sophos have introduced Cloud Security Posture Management (CSPM) tools. But in most cases, I believe, CSPM tools focus on public cloud infrastructure (IaaS) like Amazon Web Services, Microsoft Azure and Google Cloud Platform — rather than SaaS-level applications.