Data Protection Tech Provider Zerto Raises $53 Million In Financing, Credit Facility
Move comes on the heels of the company’s move to expand the capabilities of its IT Resilience Platform targeting data protection and disaster recovery for next-generation applications.
Data protection and disaster recovery software developer Zerto has raised $53 million in additional financing, money the company plans to put toward accelerating the development of its IT Resilience Platform.
The financing includes $33 million in equity financing and $20 million in additional venture debt under an existing credit facility.
Boston-based Zerto develops all-in-one disaster recovery, data protection and workload mobility software – all components of the company’s IT Resilience Platform for on-premises and cloud systems.
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Founded in 2009, Zerto boasts more than 8,000 customers for its software, works with some 1,500 partners and is used by 450 managed service providers.
Earlier this month Zerto unveiled plans to extend the platform’s functionality to support next-generation, cloud-native applications, adding such capabilities as continuous replication, point-in-time restore, application-centric protection, continuous journaling for Kubernetes, and data protection as code: data protection and disaster recovery integrated into the application development lifecycle.
“This investment further validates our vision and direction as innovative leaders in the IT resilience market,” said Ziv Kedem, Zerto CEO, in a statement. “This is another milestone for the business and it allows us to confidently push forward with our plans to provide customers with a solution for their next-generation business realities.”
The financing round included new investor Poalim Capital Markets, the investment arm of Israeli financial institution Bank Hapoalim, as well as existing investors Access Industries through its Israeli entity Claltech, 83North, Battery Ventures, Harmony Partners, IVP, RTP Ventures and U.S. Venture Partners.
Zereto also can now draw up to $20 million in additional venture debt under an existing credit facility from venture debt provider Kreos Capital.