Cloud data protection startup Rewind said today it has raised $15 million in a new round of financing.

The Series A round was led by Inovia Capital, with participation from Ridge Ventures, Bessemer Venture Partners, ScaleUP Ventures, Fundfire, Mistral Venture Partners and some technology-focused angel investors. Rewind, owned and operated by Third Blink Software Inc., has created what it calls a “repeatable” product development process that enables teams to build and replicate cloud-based applications and their data across various cloud infrastructures.

The company’s backup-as-a-service offering comes with advanced features including unlimited storage and a support team, and can dynamically scale to handle increased loads as customer’s business needs change. It enables businesses to recover from any problem, including tiny data errors or massive data disasters, Rewind said. The service also has the ability to back up its customers’ data in multiple data centers around the globe to ensure it can meet their unique data privacy, security and compliance needs.

The company’s offering might seem fairly simple, but it’s in big demand nonetheless. Rewind said that in the last three years, it has grown to protect the data of more than 80,000 business customers worldwide, while its revenue has increased by more than 12 times in that time. It now backs up more than 33 billion data points globally for customers including Shopify Inc., Shopify Plus and BigCommerce Pty. Ltd.

“It is no longer a matter of if a company will suffer a data loss, but when,” Mike Potter, Rewind’s co-founder and chief executive officer, said about the demand for the company’s service. “Without comprehensive cloud data protection, businesses risk permanently losing critical data without much recourse.”

Rewind said it will use the new funds to fuel its ongoing expansion, which it aims to do by accelerating its product development pipeline in order to bring new data protection offerings to market. It also plans to add new hires across its research and development, sales, marketing and customer service teams.

Image: Rewind