6 July -2016: Zerto, Inc., in standard for protection, recovery and migration of data in cloud and virtualised data centres, secured an additional $20 million in series E1 financing led by CRV (Charles River Ventures).
Existing investors also participated in the latest round validating Zerto’s performance and market opportunity.
The financing will be used to maintain the company’s consistent, year-over-year, 100%+ sales growth with further expansion in international regions and industries, as well as product development.
The $20 million financing is in addition to the $50 million growth financing led by Institutional Venture Partners (IVP) in early January 2016, bringing Zerto’s total series E financing to $70 million.
To date, the company has raised $130 million in financing. CRV’s participation in the series E1 round is continued validation of the growth expected to come from the cloud and BC and DR market, as well as Zerto’s customer growth and substantial list of satisfied users.
Existing investors include: Access Industries via its Israeli entity – Claltech, 83North, Battery Ventures, Harmony Partners, IVP, RTP Ventures, and U.S. Venture Partners.
In the first quarter of 2016 alone, Zerto expanded its footprint in healthcare and financial services. This growth is attributed to the increased demand for effective, hardware agnostic and cloud agnostic BC/DR software to help maintain compliance in highly regulated industries.
The company experienced its fourth consecutive year of over 100% sales growth in 2015.
Murat Bicer, general partner, Charles River Ventures, said: “We expect to see a massive market opportunity for companies that deliver services to accelerate cloud adoption over the next few years. Zerto is addressing the rapidly expanding needs of the increasingly cloud-dependent enterprise. We have partnered with Zerto due to their clear leadership in this fast growing market, and we are excited to be a part of their growth story.”
Ziv Kedem, CEO, Zerto, commented: “Knowing that the financing market can change at any time, we felt that the opportunity to partner with CRV was one that we couldn’t refuse. This additional financing enables us to continue long-term growth and product development untethered by incremental funding needs. Instead we are now able to focus on expanding product features targeted at making BC/DR simpler and more effective for companies making moves to the cloud who must ensure that critical operations are maintained regardless of any outage, be it natural, criminal, or common error.”