Zerto Secures Up to $53 Million in Financing as Poalim Capital Markets Joins Existing Investors
The equity funding also allows Zerto to draw up to $20 million in additional venture debt under an existing credit facility.
Investment will Accelerate Innovation of Company's IT Resilience Platform and Reinforces Zerto's Position in the Rapidly Evolving Data Protection Market
BOSTON, June 18, 2020 /PRNewswire/ -- Zerto, an industry leader for IT resilience, today 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, Pitango Venture Capital, 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 support next generation, cloud native applications. These plans reinforce Zerto's leadership in the data protection market by providing disaster recovery, data protection, and mobility in a single, simple, scalable platform for on-premises, cloud, and now next-gen applications. The financing further strengthens Zerto's financial position and supports its future innovation.
Founded in 2009, Zerto enables more than 8,000 customers worldwide to ensure they can be IT resilient 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, data protection, and cloud mobility solution that enables digital transformation, reduces downtime and data loss, and helps businesses move workloads seamlessly across different public clouds or data centers.
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"This investment further validates our vision and direction as innovative leaders in the IT Resilience market," 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 a committed 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 Poalim Capital Markets. "Investing in Zerto ideally matches Poalim Capital Markets' technology investment strategy, investing in a winning team with market-leading products and strong commitment to innovation."
About Zerto
Zerto helps customers accelerate IT transformation by reducing the risk and complexity of modernization and cloud adoption. By replacing multiple legacy solutions with a single IT Resilience Platform, Zerto is changing the way disaster recovery, data protection and cloud are managed. With enterprise scale, Zerto's software platform delivers continuous availability for an always-on customer experience while simplifying workload mobility to protect, recover and move applications freely across hybrid and multi-clouds. Zerto is trusted globally by over 8,000 customers, works with more than 1,500 partners and is powering resiliency offerings for 450 managed services providers. Learn more at Zerto.com.
