A South African-designed automated back-up system for business data stored on desktop and mobile computers has received major investment from a top venture capital company which will give it a leg-up into the global IT world.
Cibecs, run by entrepreneur Richard Dewing, whose software simplifies and automates the back-up and recovery of business critical data, has been selected by Hasso Plattner Venture Capital Africa as one of its first investments in South Africa.
Cibecs is one of five local companies earmarked to receive investment from Hasso Plattner Ventures Africa, which was launched last year to nurture and fund South African innovators and help them expand globally.
Dewing says industry statistics show that 60% to 80% of business critical data resides on PCs and notebooks in organisations.
"It is this statistic – and what happens when that data is lost through theft or negligence and the like – that led to the founding of Cibecs.
"Cibecs was started in October 2004 and has already established itself as player in the corporate business market in South Africa. Our system has been rolled out to over 30 000 users and we are ready to roll it out even further.
"Our new partnership with Hasso Plattner Venture Capital Africa is exciting for our international development ambitions. It gives us access to Hasso Plattner Ventures' business network and crucial expertise."
Andrea Böhmert, director and co-managing partner of Hasso Plattner Ventures Africa has, for the past five years, helped prepare early stage technology companies for external investments.
"Cibecs was not so much in need of capital investment but assistance in accessing new markets," says Böhmert.
"The company has an excellent product and has already proven very successful in the local market. Their business model is sound and we believe that the key to their global success lies in increased market visibility and international market access."
The Cibecs product features automated backup for desktop and laptop users in organisations. The software takes user responsibility out of the equation and allows for central management of stored data.
The R350-million fund, Hasso Plattner Ventures Africa, was launched in February.