The decision comes as Dropsuite finalises the process of a backdoor listing on the Australian Stock Exchange
Cloud based software service to backup digital assets, Dropmysite — and its two other stand-alone brands Dropmyemail and Dropmymobile — have been consolidated and will now be called Dropsuite.
It cited an internal shift towards a new global vision as reason for the rebranding.
Coinciding with the rebrand, the company launched a new solution called ‘DSE Server Backup’, which is a business continuity tool for data backup.
“Downtime and lost data is a fact of life for businesses. It happens all the time. So, helping businesses recover and getting back to business as usual as quickly as possible, is what we do,” said Charif Elansari, CEO of Dropsuite in the company’s rebranding video.
Founded in 2011, the company has been a winner in the startup ecosystem, leveraging funding, acquiring companies, imminently going public, and of course, sticking around for the long-haul.
The new play comes as the global trend of business data recovery is showing zero signs of slowing down or plateauing; the industry is projected to increase from US$1.42 billion in 2015 to US$11.92 billion in 2020, according to MarketsandMarkets.
“In just a short amount of time, Dropsuite has signed a number of leading global partners. We are confident of Dropsuite’s potential to continue solving complex business issues around continuity, fast achieving its global ambitions and capabilities,” said John Sharp, CEO of Hatcher, a Dropsuite investor, in an official statement.
The recent partnerships include name-brand companies like Singtel, GoDaddy, OzHosing, GMO Internet and a recent deal with europe’s Blacknight Internet Solutions.
Currently, Dropsuite is in the final stages of a backdoor listing on the Australian Stock Exchange. The strategy is a reverse takeover agreement with Excalibur Mining Corporation.
The deal was announced on January 27 2016 and passed due diligence requirements on March 4. As of yesterday, Excalibur was in the process of finalising the share sale agreement between the mining company, Dropsuite and a third party in environmental data management company Greenbase.
Besides the backing from Hatcher, in 2013 Dropsuite raised an undisclosed fund from 500 Startups.
The company’s key strength is its engineering and it does all of its development internally, pulling from the regional talent pool.
Current CEO Charif Elansari was appointed in 2013, in large part to navigate the launch of Dropmymobile and replaced Founder John Fearon.
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