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Today, data protection platform provider OwnBackup announced the launch of a new SaaS Security Posture Management (SSPM) tool, OwnBackup Secure, that’s designed to help organizations identify vulnerabilities in their environments that put their data at risk.
OwnBackup Secure helps enterprises and decision makers to increase transparency over their data by providing them with automated data classification, security posture analysis and archiving capabilities.
This approach ensures security can better understand what data is stored in SaaS applications, who has access to that information and what risks it poses to the organization as a whole.
Securing application sprawl
One of the biggest challenges modern enterprises are facing is that there’s too many applications to protect. The attack surface of many organizations is simply too large for a small security team to protect on its own.
“The average company now averages over 300 SaaS apps. While these applications help companies be more efficient, productive, etc. they also create more entry points for attacks, data breaches and other forms of data loss,” said OwnBackup CEO and founder Sam Gutmann.
“According to recent research, nearly one third of all successful data breaches use misconfigured users and permissions settings as the initial entry point,” Gutmann said. “These external threats, coupled with the risks that have always existed — problems like data loss caused by errant system integrations — require companies to have a comprehensive data protection strategy to ensure business continuity.”
OwnBackups answer to these challenges is to make it easier for users to identify their mission-critical data so they can take action to protect it and helping them to spot malicious activity.
For example, Smart Alerts enable users to set thresholds to identify anomalous activity in data backups, so that you can receive an alert to investigate and follow up.
The data backup and recovery market
The provider falls within the data backup and recovery software market, which researchers valued at $5074.5 million in 2020 and expect to reach $9.76 billion by 2027, as more organizations seek to secure their critical data assets from malicious entities and compliance violations.
With a valuation of $3.35 billion and a $240 million Series E investment last year, OwnBackup is one of the biggest providers in the market. The organization maintains a customer-base of over 4,500 clients and stands as a top-rated solution on both Salesforce AppExchange and Microsoft Dynamics 365.
However, OwnBackup is also competing against a number of other well-funded organizations including Odaseva, which provides an enterprise data protection platform for Salesforce, which offers users data backup and restore and analytics to track trends like API consumption and data storage, which has achieved total funding of $40 million following a $25 million Series B funding round in 2020.
Another competitor is Datto, which offers backup protection for Google and Microsoft 365 with daily automated backups restoration capabilities, which was recently acquired by Kaseya for $6.2 billion.
Gutmann argues that OwnBackup’s simple deployment capabilities are what differentiates it from competitors.
“Our solution is incredibly easy to implement. From the time a customer logs into the OwnBackup application to the time they run their first backup takes just minutes,” Gutmann said. “Also we’re a completely automated system. So once a customer has configured a backup, we take care of the rest, regardless of what changes. It’s truly set it and forget it.”
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