Disaster recovery software vendor Zerto will use its new venture funding to accelerate development of its Cloud...
Fabric technology, which moves virtualized workloads between cloud providers.
Boston-based Zerto on Monday said it had received $26 million from five venture-capital firms. The latest round boosts the company's venture funding to $61 million since its launch in 2010. Zerto also plans to use the proceeds to grow its 500+ customer base and expand beyond the 29 markets in which it currently operates, CEO Ziv Kedem said.
Zerto has already been busy on the product development front, revealing its Cloud Fabric strategy in May followed by a new version of its Virtual Replication suite with off-site backup capabilities earlier this month.
Cloud Fabric will include a transport layer and new applications for moving virtualized workloads to cloud environments. Kedem said Cloud Fabric will be compatible with leading hypervisors and cloud service providers. Cloud Fabric will roll out in phases beginning this year.
"This is an area of the market that is not very mature, but [it is] growing. We are already serving large companies that have started moving some production workloads into the cloud," Kedem said.
He said Zerto has service agreements in place with roughly 150 cloud computing providers.
New investor Harmony Partners led the latest funding round with previous investors Battery Ventures, Greylock IL, RTP Ventures and U.S. Venture Partners participating.