Zerto, Led By Two Brothers and Data Storage Vets, Scoops Up $50M
One of Boston’s most heavily funded data-recovery software companies just took in another pile of cash.
Zerto said Wednesday it raised $50 million in a Series E round that brings its total venture capital haul to more than $110 million since it was founded in the late 2000s. Institutional Venture Partners led the new round. Other participants included new investor Access Industries—which invested through its Israel-based entity, Claltech—and previous investors 83North, Battery Ventures, Harmony Partners, RTP Ventures, U.S. Venture Partners, and Mark Leslie, who was founding chairman and CEO of Veritas Software.
Zerto was founded in Israel by brothers Ziv and Oded Kedem, who serve as chief executive and chief technology officer, respectively. They previously worked together at data storage firm Kashya, founded by Ziv Kedem, which was acquired in 2006 by EMC.
Zerto has dual headquarters in Boston and Herzliya, Israel. The company employs 300 people worldwide, a number expected to grow to 480 by next year, the Boston Business Journal reported. Forty of those hires will be in Boston, where the company currently employs 70 people, the newspaper reported.
Zerto provides data protection, recovery, and migration services for cloud and virtualized data centers. It has 2,200 customers in financial services, healthcare, insurance, education, and the legal industry. Last year marked the fourth consecutive year that Zerto more than doubled its annual sales, the company said in a press release.