Zerto is officially one of the fastest rising startups in Israel
Only six months after coming out with a whopping $50 million investment for their Series E round, business continuity and disaster recovery company Zerto announced today that they have secured a second tranche of $20 million in additional funding, knocking them up to $70 million for the round.
The new financing comes from CRV, leading existing investors IVP, 83North, U.S. Venture Partners, Access Industries through their Israeli presence Claltech, Battery Ventures, Harmony Partners, and RTP Ventures to bring Zerto to a total of $130 million raised.
Founded in 2009 by Ziv and Oded Kedem, the company is based out of both Herzliya and Boston, and they maintain offices in Tokyo, Sydney, and Reading in the United Kingdom.
Focusing on maintaining business continuity, Zerto offers disaster recovery services with their flagship product Zerto Virtual Replication. Their turnkey and hardware agnostic software is able to replicate data and applications from a company’s own data centers through a virtual layer, negating the need for added hardware.
In an interview back in January when they announced the first stage of this round, CEO Ziv Kedem told Geektime that one of their strongest assets was the hardware and cloud environment agnostic approach that they have built their product around, giving them the ability to appeal to such a wide range of clients. He says that their product is capable of protecting, migrating, and recovering data between different variants of technology, whether they be from Microsoft Hyper-V hypervisors, VMware vSphere, or a mixture of different public, private, or hybrid cloud services like Amazon Web Services (AWS). As such, they have close relationships with Microsoft, HPE, AWS, and Cisco.
Crucial insurance in an age of uncertainty
While backing up your data has always been a good idea, the architecture governing the digital space and our increased reliance on our networks has gone up significantly. Downtime is no longer an option in keeping up with the pace of business, and maintaining business continuity means having a reliable backup of your data.
As more industries have left paper behind and gone digital, standards for compliance demand that everyone, from hospitals that deal with patient records to financial services, implement solutions to keep data available.
Along with our dependence on data, the threats to our information are also increasing. Over the past year, the number of hacks against large companies and institutions has seen a marked increase. Among those targeted by cyber criminals have been hospitals, who have seen their entire patient records systems locked down with Ransomware, forcing them to decide between a total shut down of life saving operations and paying the blackmailers.
As the need for business continuity and disaster recovery solutions continues to grow, the market for solutions is heating up. Big international names like EMC and VMware have products on offer, as well as local Israeli competitor CloudEndure, which raised a $7 million Series B back in December.
Zerto says that they have been enjoying significant growth over the past year, experiencing a 100% increase in sales. With their sizable war chest in hand, the company has told the press in their statement that they plan on continuing to grow their global sales operation and developing the product.