Spin Technology raises $16M to protect SaaS apps against attacks

Spin Technology, a data protection software vendor catering to enterprise clientele, today announced that it raised $16 million in a Series A round led by Blueprint Equity with participation from Santa Barbara Venture Partners and Blu Venture Investors. CEO Dmitry Dontov said that fresh capital — which values Spin at $55 million post-money — will be put toward supporting growth, expanding Spin’s software-as-a-service (SaaS) offerings, and growing the startup’s marketing, sales and engineering teams.
Most firms leverage third-party apps to extend their cloud SaaS environ

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