Zerto Announces $50 Million Growth Financing led by IVP
January 13, 2016
Zerto, setting the standard for protection, recovery and migration of data in cloud and virtualized data centers, today announced it has secured a $50 million Series E financing led by IVP and has achieved a fourth consecutive year of 100%+ sales growth. The additional capital will 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. As a later stage venture capital investor, IVP’s noteworthy successes include high profile technology companies AppDynamics, Domo, Marketo, Netflix, Pure Storage, Snapchat, and Twitter.
IVP led the financing round which included new investor, Access Industries, via its Israeli entity, Claltech. Access’ investments in global media and technology companies include Warner Music Group, Square, Spotify, and Beats (sold to Apple). The round also included participation from all current investors: 83North, Battery Ventures, Harmony Partners, RTP Ventures, U.S. Venture Partners, and Mark Leslie who also serves on Zerto’s Board of Directors. Sandy Miller, General Partner from IVP, will serve as an Observer on the Board of Directors. Sandy has previously led IVP’s investments in Supercell, Zynga, Fleetmatics, Datalogix, OnDeck, SoFi, and Prosper. The round brings Zerto’s total financing to over $110 million, and will allow Zerto to continue the momentum it has built with 2,200 customers spanning financial services, healthcare, insurance, legal and education, and a channel network of 250 cloud service providers and 900 resellers.
Zerto’s global success is evidenced by 2015 highlights including an award-winning product launch, new geo penetration, key technology partnership activities, and industry and business accolades:
- 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). Zerto’s sales leadership was recently recognized by CEO Magazine 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 a Storage, Virtualization, Cloud (SVC) 2015 Award for the Cloud Backup and Recovery/Archive Product of the Year
"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." — Sandy Miller, General Partner, IVP