Zerto secures $33m in equity financing
IT resilience firm Zerto has announced it has raised $33 million in equity financing.
The equity funding also allows Zerto to draw up to $20 million in additional venture debt under an existing credit facility. The round is supported by existing investors: Access Industries via its Israeli entity Claltech, 83North, Battery Ventures, Harmony Partners, IVP, RTP Ventures, and U.S. Venture Partners.
These are alongside a new investor, Poalim Capital Markets, the investment arm of Israel’s leading financial institution, Bank Hapoalim, as well as Zerto’s venture debt provider, Kreos Capital.The news follows Zerto’s recently unveiled plans to extend its IT Resilience Platform to supportnext generation, cloud native applications.
Founded in 2009, Zerto enables more than 8,000 customers worldwide to ensure they can be ITresilient so they can thrive without downtime or disruption in a world where uninterrupted technology is key. Zerto’s IT Resilience Platform is an all-in-one converged disaster recovery, dataprotection, and cloud mobility solution that enables digital transformation, reduces downtime and data loss, and helps businesses move workloads seamlessly across different public clouds or datacentres.
“This investment further validates our vision and direction as innovative leaders in the IT Resiliencemarket,” said Ziv Kedem, CEO, Zerto.
“It’s gratifying to receive long-term commitments from our existing investors, and to add a new important investor to our roster: Poalim Capital Markets. This is another milestone for the business and allows us to confidently push forward with our plans to provide customers with a solution for their next generation business realities.”
“Zerto is fast becoming a major success story in the IT industry. It’s an exciting time to join such acommitted group of investors who hold profound belief in Zerto’s resilience proposition and the team’s ability to execute,” said Talor Erdan, Head of Technology and Investment Banking at PoalimCapital Markets.
“Investing in Zerto ideally matches Poalim Capital Markets’ technology investment strategy, investing in a winning team with market-leading products and strong commitment toinnovation.”