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SAN MATEO, Calif. - Cloud storage provider Backblaze, Inc. (NASDAQ:BLZE), a $301 million market cap company with impressive revenue growth of 22% over the last twelve months, has introduced a new Legal Hold feature for its Computer Backup with Enterprise Control service, according to a press release issued Thursday. According to InvestingPro analysis, the company currently appears fairly valued based on its Fair Value assessment.
The feature allows businesses to preserve a user’s entire backup history with a single click, helping organizations meet legal, regulatory, and HR data-retention requirements. The company stated that the feature is being offered at no additional cost to existing subscribers.
Legal Hold enables administrators to instantly activate data preservation through the Enterprise Control console without requiring additional hardware or software. The system operates without causing downtime or throttling, and runs without sending notifications to end users.
"With Legal Hold, information stays secure and immediately accessible when the stakes are highest," said Gleb Budman, CEO at Backblaze. "Reliable preservation of data reduces exposure to fines and sanctions."
The feature includes unlimited version retention and instant file retrieval options, with encrypted drive delivery via courier available if needed. The company noted that data is encrypted both at rest and in transit, with optional private-key encryption available.
Legal Hold is currently available for all Backblaze Computer Backup with Enterprise Control customers. New users can access a 15-day free trial by contacting the company’s sales team.
Backblaze positions its service as an alternative to traditional backup providers, offering endpoint protection designed to safeguard business data from accidental file loss, hardware failure, and cyber attacks.
In other recent news, Backblaze, Inc. has expanded its data center capacity in the US-East region, doubling its ability to support complex workflows, including those involving artificial intelligence and high-performance computing. This expansion connects to Internet2’s network, facilitating high-speed data transfers for academic and research institutions. Additionally, Backblaze has secured a $20 million senior secured revolving credit facility with Citizens Bank, enhancing its liquidity and supporting strategic growth initiatives. The credit facility offers flexible borrowing options with interest rates based on either an adjusted Secured Overnight Financing Rate or an alternate base rate, and it includes a potential one-year extension. In leadership developments, Senior Vice President of Engineering Tina Cessna will step down from her role at the end of August 2025, as announced in a regulatory filing. The terms of her severance benefits remain consistent with the company’s previous filings. Moreover, Backblaze has unveiled a private preview of its new enterprise web console, designed to enhance cloud storage security with features like role-based access controls and multi-factor authentication. This console aims to simplify the management of B2 Cloud Storage for enterprises and managed service providers.
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