Spin Technology

Spin Technology is a cloud computing security company based in Palo Alto, California. It develops cloud data protection software^[1] for enterprises and SMBs. The company has development teams located in Ukraine, Portugal, and Poland. It serves over 1,600 customers worldwide. In 2022, following several notable awards for its products, Spin Technology closed a $16 million^[2] Series A round of financing.

History

The company was founded by Ukrainian-American entrepreneur Dmitry Dontov^[3] in 2017. It initially focused on cloud backup and had an offering for both companies and individuals. The name of the product was Spinbackup. The product developed rapidly with new functionality and features for Google Workforce (then G Suite) data protection added throughout 2017. The company launched an AI-based cloud ransomware protection solution in July. By December 2017, it extended its data protection capabilities with data audit policies and domain audit policies.

In April 2018, Spin Technology announced the integration of its product with the Google Cloud Platform to give customers more options to store, protect, and manage their cloud data. Simultaneously, the company development team was working on the backup solution for Microsoft Office 365. They successfully launched Beta Cloud-to-Cloud Backup for Microsoft Office 365 in November 2018. In addition to GCP, the product began using Azure and AWS as cloud storage and offered multiple storage locations to comply with local regulations and GDPR. The ransomware protection solution for Microsoft Office 365 was released in 2019.

Understanding the trend to enhance regulation in the area of cybersecurity and data protection, Spin Technology aimed at receiving certification that will enable its customers to meet their compliance goals. For example, in May 2020, it received Service Organization Control (SOC 2) Type II certification otherwise known as “SOC 2 Type II” for its ransomware, insider threat monitoring, risk assessment, and data protection solutions.

During the COVID pandemic of 2020-2021, Spin Technology focused on improving the existing functionality of its products, looking for the optimal UI and UX, raising awareness about ransomware threat, growing its customer base, and transitioning from SMB-oriented to enterprise-oriented solutions.

In September 2020 announced the general availability of Application and Chrome Browser Extension Auditing for G Suite in a new offering called Spin Risk Assessment.  In November 2020 announced the next generation of SpinOne, AI-powered ransomware protection and backup solution for Google Workspace and Office 365. In September 2021 introduced new features for Microsoft 365 customers, providing a seamless SaaS security management experience, greater visibility to cybersecurity threats, easier data audits, and additional security controls. Simultaneously, the research and development team was working on a backup solution for Salesforce. The experts were studying the strengths and weaknesses of the existing solutions, the pains of Salesforce admins, and the security risks associated with data loss in this software. As a result of their work, in February 2022, the release of the new backup solution for Salesforce was finally announced.

Later on this month the company was struck by Russian invasion in Ukraine. Its two main research and development offices in Kyiv and Odesa were under the constant threat of a missile strike. The company made the hard decision to relocate as many employees as possible to EU, i.e., Poland and Portugal. Despite the uncertainty of the war, Spin Technology managed to release the new functionality for Microsoft Office 365 in April 2022: Application Risk Assessment and Access Management.  And in August 2022, it closed a $16 million Series A round of financing.

Products

Spin Technology offers several SaaS Data Protection products for Google Workspace, Microsoft Office 365, and Salesforce. Customers can purchase one or get a data protection platform that encompasses all the functionality. There is a 15 days free trial for all products.

Products for Google Workspace and Microsoft 365 include:

• SpinBackup is a daily automated backup tool for data stored in SaaS environments. It stores data on AWS, GCP, Azure, or data storage of a client’s choice.
• SpinApp is a risk assessment and access management for SaaS applications including Chrome Extensions for GW. It helps organization detect and disable shadow IT.
• SpinSecurity is a tool for proactive ransomware protection, as well as backup and disaster recovery.
• SpinOne is a platform that includes all the previous features (like ransomware protection, app risk assessment & access management, and Backup) and also provides SaaS DLP functionality.

Products for Salesforce include:

• SpinOne for Salesforce^[4] is a data protection platform that offers data backup and cloud monitor for cybersecurity events.

Awards and achievements

• TOP Ransomware Protection Technology for 2020 according to Threat Technology Magazine
• 2021 Global InfoSec Award
  • Next-gen Ransomware Protection of SaaS Data
  • Next-gen SaaS/Cloud Security
  • Most innovative Secure SaaS Backups
• 2021 Cloud Computing Security Excellence Award
• TOP 5 SaaS Backup Technology for Office 365 through 2021-2022 according to DCIG Research
• 1 UtilityPatent / 2 Patents Pending
  • US20190138727A1: Ransomware Protection for Cloud Storage Systems
  • Ransomware Continuation (US Utility Patent App. 17/401,197)
  • US20190140848A1: Decentralized Access Control for Cloud Services
• The Best SaaS Data Protection Platform In 2022^[5]
• Most Innovative Cyber Security Startups & Companies ^[6]
• Infosec products of the month: February 2022^[7]
• 2022 Top Performer by SourceForge^[8]
• Infosec products of the month: April 2022^[9]
• Top InfoSec Innovator Awards for 2022^[10]

References

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