Redstor receives growth investment from Bregal Milestone to expand into US

Investment from Europe’s top growth capital firm bolsters Redstor’s category-leading data management and SaaS protection solution for MSPs.

London, 12 Jan 2022
Read time 3min 50sec
Founder and CEO Paul Evans.
Founder and CEO Paul Evans.

Redstor, a category-leading data management and SaaS protection company, today announced a growth investment from Bregal Milestone, the leading European technology growth capital firm managing over €1 billion dedicated to investments in high-growth technology companies. With more than 40 000 customers worldwide, Redstor will use the financing to fuel its international expansion into the United States and accelerate its AI-enabled platform and overall growth.

Redstor lets managed service providers (MSPs) and channel companies serving the mid-market discover, manage and protect customer data across the broadest range of environments from a single, cloud-based application. Using Redstor’s all-in-one platform, MSPs can protect data on-premises, within cloud-native infrastructures like Kubernetes and in SaaS applications including M365, Google Workspace, Salesforce and Xero. MSP partners can scale their services and introduce new revenue and growth opportunities while dramatically reducing management overhead. 

Redstor is led by Founder and CEO Paul Evans and has an ambitious and proven leadership team that includes industry experts from companies like DXC Technology, Rackspace, Vodafone and Autotask. Bregal Milestone will help drive Redstor’s next phase of expansion by leveraging both the growth firm’s extensive experience in scaling global software companies and its in-house value creation team, Milestone Performance Partners. The firm will support Redstor’s expansion to the US and invest to extend Redstor’s technology edge for organic growth.

John Hales, principal at Bregal Milestone, said: “As a founder-led, category-leading SaaS business benefiting from powerful growth tailwinds, and one which can actively support and internationalise its platform, Redstor is a perfect fit for Bregal Milestone’s portfolio. This is one of Europe’s most exciting data management software companies, which has built a hyper-scalable global platform, and we look forward to supporting Paul and the team in the next phase of Redstor’s success story.”

Evans said: "This is a truly exciting partnership for us. We have been on a strong trajectory of profitable, international growth in recent years, and it is a pleasure to have Bregal Milestone alongside us to achieve our goals. The firm's in-house value creation and operational capabilities, along with its long track record of helping market-leading tech companies internationalise, will be invaluable as we continue to drive our strategic vision and expansion."

Analyst firm IDC predicts that in the next two to three years, 55% of organisations will have migrated their data protection systems to a cloud-centric model to centrally manage core, edge and data protection from the cloud, and that vendors like Redstor are primed to take advantage of this $18 billion+ market.

Archana Venkatraman, senior analyst at IDC, said: “With growing volumes of ransomware attacks across all applications, the top priority for organisations is to minimise data loss. Cloud data management vendors that are committed to infusing AI and machine learning into their platforms truly empower MSPs to deliver consistent data protection at scale, gain deeper insights to better protect customers’ data and have automated upsell opportunities.”

Redstor’s smart data management platform leverages AI and machine learning to help companies mitigate data fragmentation and failure points, thwart ransomware and malware attacks, reduce downtime and adhere to global regulatory standards. The company’s proprietary InstantData technology delivers instant, user-driven recoveries from the cloud, removing the need to install hardware on-premises. This innovative approach lets MSPs derive all the benefits of a cloud-first model and enables intelligent data portability. MSPs are also fully supported by Redstor’s AI-powered marketing engine, giving partners a complete turnkey solution from seamless onboarding in just three clicks to comprehensive marketing and sales enablement support. There is significant headway for growth in the coming years, given the opportunities MSPs have to leverage intelligent cloud data management platforms and champion data governance, trust and resilience.

Previous Redstor investor Beech Tree Private Equity realised their investment in full as part of the transaction. Results served as corporate finance advisor to Redstor with Osborne Clarke serving as legal advisor for the transaction. Bregal Milestone was advised by Goodwin (legal), Deloitte (financial and tax) and Endava Private Equity Group (technology).

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