Zerto, a disaster recovery, cloud IT and business continuity solutions provider, has raised $50 million in a Series E funding round led by IVP, with the participation of billionaire Len Blavatnik, via his Access Industries Israeli units Clal Industries/ClalTech. The round also included participation from all current investors: 83North, Battery Ventures, Harmony Partners, RTP Ventures, U.S. Venture Partners, and Mark Leslie.
This round brings Zerto’s total financing to date, to $110 million. The company says it has achieved a fourth consecutive year of over 100% sales growth.
“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,” said Sandy Miller, general partner, IVP.
“IVP’s success stories are a veritable ‘who’s who’ in the technology and digital sectors, and we are honored to become part of their rich heritage of marketplace disruptors,” commented Zerto’s co-founder and CEO, Ziv Kedem.
Zerto keeps enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform, organizations can seamlessly protect and move virtualized workloads between public, private and hybrid clouds. The company’s flagship product, Zerto Virtual Replication, has become the standard for protection, recovery and migration of applications in cloud and virtualized data centers, and won numerous awards, including Best of Show at VMworld 2011, Best of VMworld Europe 2014, as well as 2011, 2012 and 2013 Product of the Year Awards for its innovative hypervisor-based replication approach. Zerto serves 2,200 customers spanning financial services, healthcare, insurance, legal and education, with a channel network of 250 cloud service providers and 900 resellers. The company was co-founded in 2009 by Ziv and Oded Kedem. Ziv Kedem had previously been a founder of Kashya, which was acquired in 2006 by EMC. Zerto is headquartered in Boston, Mass., and Herzliya, Israel, with additional offices in UK, Japan and India.
Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States, with $5.4 billion of committed capital. Founded in 1980, IVP has invested in over 300 companies and 103 have gone public. IVP is one of the top-performing firms in the industry and has a 34-year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. IVP investments include notable companies such as AppDynamics, Business Insider (Axel Springer), Buddy Media (CRM), Datalogix (ORCL), Domo, Dropbox, Dropcam (GOOG), Fleetmatics (FLTX), GitHub, HomeAway (AWAY), The Honest Company, Kayak (PCLN), Klarna, LegalZoom, LifeLock (LOCK), Marketo (MKTO), MySQL (ORCL), Netflix (NFLX), Omniture (ADBE), OnDeck (ONDK), Prosper, Pure Storage (PSTG), Shazam, Slack, Snapchat, SoFi, SoundCloud, Supercell (SoftBank), Synchronoss (SNCR), Tanium, Twitter (TWTR), Zenefits, and Zynga (ZNGA). The company has offices in Menlo Park and san Francisco.
Access Industries is a New York-based privately held, U.S. group with global strategic investments. Founded in 1986 by Len Blavatnik, an American entrepreneur and philanthropist, the group is headquartered in New York. Access invests in industries where it can maximize long-term value by developing regional and global leaders. Its media and technology portfolio includes market leaders such as Warner Music, Alibaba, Facebook, Square, Spotify, Perform Group, Rocket Internet, Zalando, Deezer, Crowdsurge, Sentient Technologies, Lazada and many others. Access Invests in Israeli tech companies primarily through its local entity ClalTech. Its investments in Israeli technology companies over the past year included ironSource, Yotpo and Zooz. ClalTech is supported by a vast network of its parent companies: Access Industries and Clal Industries.