Prior to forming Databarracks with his co-directors Peter spent several years in various operational and financial risk management roles within the banking sector. His main focus was in liquidity risk for treasury instruments and latterly worked on projects surrounding V.A.R. (value at risk) and developing applications to allow the near real-time monitoring of V.A.R. across the banks treasury and hedged products. In 2000 Peter combined his passion for sailing with his skills in application development to set up his own company building ship monitoring and harbour management software including the integration of S.A.R. (search and rescue) using GPS and Radar. This proprietary platform is still in use by some major harbours today. It was during this time that Peter was introduced to Oliver who had been working in banking information technology for several years and had become acutely aware of some of the inherent risks with current tape backup technology and sought partners who could help realise his idea of offering backup as a service within the financial sector.