US-based data management software provider Zerto raised $50m in a series E round yesterday featuring Claltech, an investment vehicle of diversified conglomerate Access Industries’ subsidiary Clal Industries.
RTP Ventures, a venture capital affiliate of investment firm Ru-Net, also took part in the round, which was led by VC firm Institutional Venture Partners (IVP) and backed by 83North, Battery Ventures, Harmony Partners, US Venture Partners (USVP) and private investor Mark Leslie.
Zerto provides software that helps businesses protect, recover and migrate their applications across the cloud and virtualised data centres. The series E funding will go towards continued product development.
The company has now received more than $110m in funding since it was founded in 2009. RTP Ventures previously led a $13m series C round in 2013 with participation from Battery, Greylock and USVP.
Sandy Miller, general partner at IVP, will join Zerto’s board of directors as an observer.