Datacenter Software Developer, Zerto Elevates $50 Million Series E
Date: Monday , February 01, 2016
Bengaluru: Zerto, a Boston-based provider of a platform for protection, recovery and migration of data in cloud and virtualized data centers grabs $50 million in series E funding led by IVP with participation from new investor Access Industries, via its Israeli entity, Claltech, and current investors 83North, Battery Ventures, Harmony Partners, RTP Ventures, U.S. Venture Partners, and Mark Leslie. The capital raised will be used in product development to increase the flexibility of software defined, hybrid cloud infrastructures for easier adoption. Sandy Miller, General Partner at IVP, will serve as an Observer on Zerto\'s Board of Directors.
Ziv Kedem, CEO of Zerto, says \"IVP\'s success stories are a veritable \'who\'s who\' in the technology and digital sectors, and we are honored to become part of their rich heritage of marketplace disruptors. We look forward to executing on our singular vision of creating data center products that transform IT in ways that help them pursue new opportunities for business success\".
Zerto was founded by brothers Ziv and Oded Kedem (CTO) in 2009. The company provides business continuity software solutions to keep cloud IT running 24/7. Through this Zerto Cloud Continuity Platform, organizations can protect workloads between public, private and hybrid clouds. The company now serves 2,200 customers in healthcare, insurance, financial services and educations and has also completed a fourth consecutive year of over 100 percent sales growth.
General Partner of IVP, Sandy Miller concludes, \"Zerto\'s business growth, strong team, execution track record, and proven ability to address a market need by simplifying data center operations motivated IVP to add Zerto to our portfolio. We look forward to supporting the ongoing success of Zerto as they redefine the business continuity market as being far more than an IT insurance policy, but one that opens many doors for their customers\' future growth\".