With a new round of $20 million in funding, business continuity/disaster recovery software vendor Zerto plans to double its engineering force by the end of the year to accelerate product releases.
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“It extends what we can do and how long we can continue to be as aggressive as we are,” said Rob Strechay, Zerto’s vice president of product.
The Series E1 financing for Zerto disaster recovery, led by Charles River Ventures (CRV), follows the $50 million Series E financing headed by Institutional Venture Partners announced in January. The vendor has raised $130 million in total financing.
Strechay joined Zerto from Hewlett Packard Enterprise after the January funding round. He said Zerto’s engineer head count will be hitting close to 160 by the end of 2016. He anticipates two product releases in 2017 that will extend Azure, failback and cloud capabilities.
At the end of May, Zerto detailed its next Zerto Virtual Replication release, code-named “Athena.” That product is due late in 2016. It will include support for replication into the Azure cloud. Zerto also unveiled a mobile application for monitoring BC/DR.
Zerto has been expanding internationally. Last week, Zerto opened an office in Singapore, with six employees in support, sales and marketing, Strechay said. The company also has support services in its Boston and Israel offices, meaning it now offers support across the globe.
Zerto is expanding its office in the United Kingdom outside London, which is the base of its European operations. Strechay said that he expects no immediate impact following the Brexit vote, but the vendor may need to look at pricing following the dropping of the value of the pound.
Zerto is also looking to accelerate its sales and marketing in Asia and the Pacific with the new funding.
Strechay said CRV approached Zerto to extend the Series E funding and provided the vast majority of this round.
“[CRV general partner Murat Bicer] understood the value proposition, the leadership the company was taking,” Strechay said. “He really wanted in.”
Zerto claims four consecutive years of at least 100% sales growth.