Battery Ventures’ $33 Million Investment in Zerto

GKH represented Battery Ventures in the deal, while Fenwick represented Zerto.

Battery Ventures acted as lead investor in a $33 million financing round in Zerto.

In addition to Battery Ventures, the financing was supported by existing investors Access Industries via its Israeli entity Claltech, 83North, Harmony Partners, IVP, Pitango Venture Capital, RTP Ventures and U.S. Venture Partners; alongside a new investor, Poalim Capital Markets, the investment arm of Israel’s leading financial institution, Bank Hapoalim, as well as Zerto’s venture debt provider, Kreos Capital.

The equity funding also allows Zerto to draw up to $20 million in additional venture debt under an existing credit facility. The financing accelerates innovation of Zerto’s IT Resilience Platform and reinforces the company’s position in the rapidly evolving data protection market.

Battery Ventures, L.P. operates as a venture capital firm, the Company invests in internet, digital media, financial services, technology, advanced materials, software, and semiconductor industries.

Zerto Inc provides enterprise-class disaster recovery and business continuity software for virtualized data centers and cloud environments, the Company offers hypervisor-based replication solutions for tier-one applications.

The GKH team advising Battery Ventures was led by Richard J. Mann (Picture), Rafi Levi, Asaf Hershkovitz and Nadav Tiomkin.

The Fenwick transaction team advising Zerto included corporate partners Cynthia Clarfield Hess and Ran Ben-Tzur and associates Ivan Au and Nikhil Sharma.

Involved fees earner: Ivan Au – Fenwick & West LLP; Ran Ben-Tzur – Fenwick & West LLP; Cynthia Clarfield Hess – Fenwick & West LLP; Nikhil Sharma – Fenwick & West LLP; Asaf Hershkovitz – Gross Kleinhendler Hodak Halevy Greenberg Shenhav & Co; Rafi Levi – Gross Kleinhendler Hodak Halevy Greenberg Shenhav & Co; Richard Mann – Gross Kleinhendler Hodak Halevy Greenberg Shenhav & Co; Nadav Tiomkin – Gross Kleinhendler Hodak Halevy Greenberg Shenhav & Co;

Law Firms: Fenwick & West LLP; Gross Kleinhendler Hodak Halevy Greenberg Shenhav & Co;

Clients: Battery Ventures; Zerto, Inc.;

Author: Michael Patrini.