CloudEndure,
a provider of live-migration and disaster recovery solutions, announced
that it has raised an additional $6 million investment by unnamed
global strategic investors, bringing the total raised in its recent
Series B round to $13 million and a total funding for the company of
$18.2 million. Announced earlier, CloudEndure's Series B round was
co-led by Infosys, a leading information technology services provider working with the world's leading enterprises, and previous investor, Magma Venture Partners.
The
additional capital comes on the heels of significant momentum for
CloudEndure. The company has experienced strong demand and customer
traction and continues to garner broad industry recognition and
accolades as a top vendor in enterprise-grade, cloud disaster recovery
(DR) and live-migration from any platform into and across clouds.
"If
we look back 5 years from now, we will realize that it is companies
like CloudEndure that helped enterprises adopt the public cloud," said
Modi Rosen, Managing Partner at Magma Venture Partners. "This funding
will fuel even more and faster growth for CloudEndure."
CloudEndure
helps companies mitigate the problem of downtime without the on-going
high costs typically associated with traditional DR approaches.
According to leading research firms, by 2020, 90% of disaster recovery
operations will run in the cloud.
"We are excited to announce this
additional investment. It underscores CloudEndure's technology and
product offering and reflects the market traction and momentum we have
been experiencing over the past year," stated Ofer Gadish, CEO of
CloudEndure. "Most importantly, the additional funding will allow us to
continue cementing the success of our existing and future customers and
accelerate building out our team."