B2B Payments

SMEs Targeted For Cloud Data Security

With the B2B Software-as-a-Service industry booming, startups are popping up like never before to add their efforts to the innovation push. One of these startups includes Revert, which recently secured nearly $1 million to begin adapting its SaaS offerings for small- and medium-sized businesses.

According to reports, Revert integrates with some of the most common B2B software in use, including MailChimp, Dropbox, Google Drive and Evernote. The tool provides a mechanism for users to restore lost information and protect data with sophisticated encryption technology.

According to Revert founder Richard Chetwynd, the New Zealand-based firm is using the new funds to expand across the nation and target SMEs in need of data security services.

Despite the startup’s early success, it wasn’t until a bit after he started the company that Chetwynd realized that Revert offers far more than data recovery. The protection of data and the use and analysis of metadata for security purposes, he said, are also key features of the platform. The tool, he said, allows small business owners to “detect things before they get out of control.”

“We can see when someone is accessing cloud-based data, and identify the theft or sharing of confidential information, among other things,” Chetwynd said. “Being able to see that kind of activity and respond before it becomes a problem is a new frontier for data security, and Revert will be at the forefront of that movement.”

Research shows that while cloud-based software technologies can help streamline nearly all aspects of business operations, some companies, especially SMEs, are apprehensive about adopting the tools for fear that the cloud offers less robust security. Revert is working to quell those fears.

According to reports, Revert currently has about 6,000 corporate customers and manages more than 100TB of data. Many of the features offered by Revert were developed in-house, and others, like its search function, use Elastic.

Its $900,000 funding was Revert’s second round of investment, led by Punakaiki Fund as well as other technology investors, reports said.

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LATEST PYMNTS REPORT: MARCH 2020 B2B API TRACKER  

B2B APIs aren’t just for large enterprises anymore — middle-market firms and SMBs now realize their potential for enabling low-cost access to real-time payments and account data. But those capabilities are only the tip of the API iceberg, says HSBC global head of liquidity and cash management Diane Reyes. In this month’s B2B API Tracker, Reyes explains how the next wave of banking APIs could fight payments fraud and proactively alert middle-market treasurers to investment opportunities.

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