January 14th, 2016 by Adam Armstrong
Zerto Raises An Additional $50 Million In Series E Funding
Zerto announced that it has raised an additional $50 million in series E funding led by IVP. Zerto states that it plans on using the extra capital to support continued product development to increase the flexibility of software defined, hybrid cloud infrastructures for easier adoption and use by business leaders in a wide range of industries. Zerto is also announcing that it has achieved a fourth consecutive year of 100%+ sales growth.
Zerto is all about providing disaster recovery and business continuity for enterprises. Zerto’s flagship product is the Zerto Virtual Replication. According to Zerto it is the industry’s first hypervisor-based replication solution for tier-one applications, replacing traditional array-based BC/DR solutions that were not built to deal with the virtual paradigm. Zerto and its solutions have won numerous awards and has 2,200 customers including Mitsubishi Chemical Holdings Group and Fujitsu.
As stated above Institutional Venture Partners (IVP) led this financing round. IVP invests in later stage companies and have had noteworthy successes include high profile technology companies AppDynamics, Domo, Marketo, Netflix, Pure Storage, Snapchat, and Twitter. Other investors include: Access Industries, via its Israeli entity, Claltech, 83North, Battery Ventures, Harmony Partners, RTP Ventures, U.S. Venture Partners, and Mark Leslie who also serves on Zerto’s Board of Directors. A General Partner from IVP, Sandy Miller, will joining Zerto’s Board of Directors as an Observer. This latest round of funding brings total funding to $110 million.
Zerto has had several successes in 2015 including:
- The company released version 4.0 of its flagship product, Zerto Virtual Replication. This version delivers cross-infrastructure replication and mobility, helping organizations future proof their IT strategy by building data center infrastructures across private, hybrid, and public cloud environments including Amazon Web Services (AWS) to best suit their business needs. The product also helps cloud service providers grow revenues by providing Disaster Recovery as a Service (DRaaS) as part of their Infrastructure as a Service (IaaS) offerings.
- The company was recently ranked #1 and #3 respectively on the Deloitte Technology Fast 50 Israel list, and Fast 500 EMEA list of fastest-growing companies with 24,000% growth over four years.
- New geographic expansions include the addition of a sales team in EMEA dedicated to the DACH region (Germany, Austria, Switzerland), and additional teams in Sweden and other locations in Europe. Extending its APAC market reach, Zerto continued to invest in China, Japan, India, and Australia and New Zealand (ANZ). CEO Magazine recently recognized Zerto’s sales leadership for achieving 5X year-over-year growth in ANZ.
- Further bolstering its collaboration with AWS to strengthen Zerto’s Cloud Continuity Platform, the company expanded its involvement in the Amazon Partner Network (APN) by completing the Storage and Disaster Recovery Competencies.
- Zerto won Storage, Virtualization, Cloud (SVC) 2015 Award for the Cloud Backup and Recovery/Archive Product of the Year category.