Data replication and disaster recovery company, Zerto, has secured $US50m in its latest funding round led by US-based venture capital firm, IVP.
Zerto said the capital will go toward product development to increase the flexibility of software defined, hybrid Cloud infrastructures for easier adoption and use by business leaders.
IVP general partner, Sandy Miller, said “Zerto’s business growth, strong team, execution track record and proven ability to address a market need by simplifying Datacentre operations motivated IVP to add Zerto to our portfolio.”
The financing round saw participation from all current investors including 83North, Battery Ventures, Harmony Partners, RTP Ventures, U.S Venture Partners and Mark Leslie, who sits on Zerto’s board of directors.
The round brings Zerto’s total financing to over $US110m.
Zerto chief executive, Ziv Kedem, added, “IVP’s success stories are a veritable ‘who’s who’ in the technology and digital sectors, and we are honoured to become part of their rich heritage of marketplace disruptors.”
“We look forward to executing on our singular vision of creating Datacentre products that transform IT in ways that help them pursue new opportunities for business success.”