Rebit Secures $5.7 Million in Series B Financing

Rebit Inc. has closed its Series B round of financing, for a total of $5.7 million  Participating institutional venture capital investors in the Series B round are Access Venture Partners, Grotech Ventures, and Highway 12 Ventures. Additionally, one private individual who helped finance the company in its early stage is also an investor in the Series B round.
 
 “We are gratified that this stellar group of investors has shown such tremendous confidence in Rebit during these challenging economic times,” commented Lew Frauenfelder, chief executive officer, Rebit. “I am energized by our current achievements, and would like to thank Rebit’s knowledgeable and dedicated employees for their significant contributions. I am equally grateful to Rebit’s customers, who are exceptionally supportive and enthusiastic about our products. I have no doubt that Rebit’s products and roadmap will bring us continued success.”
 
“Clearly, Rebit’s accomplishments to date demonstrate that the company has the right product and market strategy to go the distance,” said Joe Zell, general partner, Grotech Ventures, lead investor in Rebit’s Series B financing. “By automating the backup and system recovery processes for PCs, Rebit has solved a critical problem facing personal data security and relieved consumers of the burden of information protection.“
 
“We were particularly impressed by Rebit’s software-based approach to continuous backup,” said Lawson DeVries, vice president, Grotech. “This supports its sales strategy of delivering this solution in various ways, directly to consumers, pre-bundled with leading PC and backup system manufacturers and even as an enterprise solution.”
 
Providing simple and fully automated backup and complete system recovery for Windows XP and Vista, Rebit plugs into a computer’s USB port for complete and continuous backup of not only data, but applications and the entire operating system – everything on one’s PC. Recovering any file or folder is simple – just use Windows Explorer ‘drag and drop.’ If a PC hard drive crashes, Rebit painlessly recovers everything onto the replacement hard drive. There is no need to re-download, reinstall, or re-register applications, and because of its NeverFull feature, Rebit never fills up, always delivering reliable backup.
 
Rebit products are currently available to Resellers and end-users in a wide range of capacities and form factors through ASI Computer Technologies.