Spin Technology, a startup with Ukrainian roots, received $16 million in investment

Spin Technology, a developer of data protection software, announced on August 10 that it had raised.16 million in investment, writes TechCrunch.

Major startup Spin Technology has raised інвестицій 16 million in a series a round led by Blueprint Equity. Santa Barbara Venture Partners and Blu Venture Investors also invested in the startup.The investment will be used to expand the company's offering, increase the marketing, sales and engineering teams.Spin acts as a kind of advanced antivirus program, scanning SaaS services using an algorithm and a database of malware and browser extensions. Spin can detect ransomware on various platforms, such as Google Workspace, Microsoft Office 365, and Salesforce. Details

Spin Technology was founded by Ukrainian Dmitry Dontov in 2017.

Now the company is estimated at 5 55 million.

Spin Technology has more than 1,600 customers. Offices are located in the USA (Palo Alto), Kiev, Odessa, Warsaw and Los Angeles.

The demand for Spin is explained by the growing number of cyber attacks. The European Union's cybersecurity agency ENISA recently warned that traditional cybersecurity tools are no longer effective in protecting against ransomware.