Virtualization Technology News and Information
CloudEndure Announces $7 Million Investment Round to Support Live-Migration and Disaster Recovery Solutions
CloudEndure, a provider of live-migration and disaster recovery solutions, has announced that it has closed a round of funding in the amount of $7 million dollars. Infosys, a leading information technology services provider working with the world's leading enterprises, co-led the round, along with previous investor, Magma Venture Partners. The new capital will enable CloudEndure to scale its sales and marketing operations to meet increasing demand for its enterprise-grade Disaster Recovery (DR) solution.
Market demand continues to grow for a new and emerging generation of DR solutions that can reap the benefits of the cloud and replace aging and legacy-based DR solutions. According to leading research firms, by 2020, 90% of disaster recovery operations will run in the cloud.
CloudEndure helps companies solve the problem of downtime without the on-going high costs typically associated with traditional DR approaches. The company uniquely offers live migration and disaster recovery from any platform into and across clouds.
2015 was a year of significant growth, with CloudEndure adding Fortune 1,000 companies, and expanding its sales channel with over 70 partners worldwide.
"Many leading enterprises look to Infosys for guidance and implementation services associated with large-scale infrastructure transformation projects. We are excited by CloudEndure's enterprise grade cloud migration and disaster recovery solution, which has been built from the ground up for a multi-cloud world. We believe this will provide enterprises a way to improve operational agility at lower cost," stated Jake Klein, Vice President of Corporate Development & Ventures, at Infosys.
"We are excited to announce this investment and validation from Infosys and our existing investors," stated Ofer Gadish, CEO of CloudEndure. "This new capital will enable us to scale our efforts to meet increased demand from enterprise companies seeking a new generation of DR solutions. We'll also continue to innovate and extend our solution to meet the dynamic needs of our growing customer base."
Published Wednesday, December 09, 2015 9:48 AM by David Marshall
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