US-based cloud infrastructure management software developer Zerto has agreed up to $53m in financing, including $33m in equity funding from investors including conglomerate Access Industries’ Israeli subsidiary ClalTech.
Poalim Capital Markets, an investment subsdiary of financial services firm Bank Hapoalim, also contributed to the equity portion, as did 83North, IVP, Battery Ventures, Harmony Partners, RTP Ventures and US Venture Partners (USVP).
The equity commitments will enable Zerto to draw up to $20m in additional venture debt through an existing credit facility provided by Kreos Capital.
Founded in 2009, Zerto has created a software platform that enables clients to seamlessly move workloads between on-premise data centres and the cloud, reducing downtime and offering data protection and disaster recovery.
The company has attracted more than 8,000 customers to date and the round follows its plans to extend the functionality of its platform to support cloud-native applications. The money will support continued innovation efforts.
Zerto had previously raised a total of $130m in funding. ClalTech contributed to a $70m series E round in 2016 that also featured IVP, 83North, Battery Ventures, CRV, Harmony Partners, RTP Ventures, USVP and Mark Leslie.
Greylock Partners is also among the company’s shareholders, having participated in a $24m series B round led by USVP in 2011 that included Battery Ventures.
