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Rebit Raises Funds

LONGMONT, Colo. -- Rebit Inc., the company dedicated to relieving the burden of backup for PC users, today announced that it has successfully 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.“

Rebit Inc.