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Zerto swallows fresh funds
Disasters keep coming and disaster recovery is a great growth business. Zerto proves it again with another contribution to its January E-round's $50m fund-raiser, taking total funding to $130m.
This fresh financing was led by CRV and existing investors also participated in the latest round. That means Access Industries via its Israeli entity – Claltech, 83North, Battery Ventures, Harmony Partners, IVP, RTP Ventures, and U.S. Venture Partners all got a piece of the action. Why the extra cash? Zerto says it'll be spent on further expansion in international regions and industries, as well as product development. It hopes for growth from the cloud and business continuity and disaster recovery (BC/DR) markets. It claims it experienced its fourth consecutive year of over 100 per cent sales growth in 2015. Oh happy, happy VCs with a clear prospect of an IPO or acquisition at some point. ®