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Harmony Partners leads $26m fundraising round for US cloud service provider

18 Jun 2014

dollar money cash fundUS-based venture capital firm Harmony Partners has made its first investment in cloud protection, recovery and migration company Zerto by backing a $26m Series D round for the company.

Battery Ventures, Greylock IL, RTP Ventures and US Venture Partners all reinvested in the firm, bringing the total raised up to $60m.

Zerto hopes to use the capital to expand its global footprint and focus R&D efforts around its recently launched Cloud Fabric initiative, which aims to help companies that use both a public cloud service and in-house storage, to work seamlessly between them.

New York-based RTP led a $13m Series C round for Zerto in April last year. The company raised $21.2m in previous rounds.

Harmony managing partner Mark Lotke said, “We talked with a wide range of customers, managed service providers, and VARs who surveyed the market for a hypervisor-based data replication software solution.

“The recurring theme we heard was that Zerto does exactly what it says it does. Customers used to dread big DR [disaster recovery] tests. Now they run them all the time and sleep better.”

Lotke said that the growth capital will help Zerto “scale the business and quickly advance new market opportunities”.

The virtualised data centre company’s recent milestones include achieving 200 per cent year-on-year growth and opening offices in the UK and Australia.

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