Zetta Raises $11.5 Million

This is a Press Release edited by StorageNewsletter.com on Tue, November 9th, 2010

Brings total to $22.5 million

Enterprise cloud storage provider Zetta Inc. has raised $11.5 million in its second round of funding, bringing the total funding to $22.5 million. Both existing investors Foundation Capital and Sigma Partners participated. Funds from this new investment will be used to expand sales and marketing and to further product development.

"We are looking forward to the company’s expansion in new markets and we are pleased to contribute to its success," said Greg Gretsch, managing director at Sigma Partners. "Solving data protection problems with a cloud-based solution is the answer to many organizations’ backup cost and complexity issues. Zetta provides immediate offsite data protection for enterprise data with an instant restore capability addressing both backup and disaster recovery."

"Zetta’s growing customer list and rapid footprint growth were instrumental to our decision," said Ashmeet Sidana, general partner at Foundation Capital. "We have been a Zetta investor from the beginning and we are glad to witness the rapid customer adoption that the company had seen this past year."

"The commitment of our initial investors shows the potential they see in Zetta and the fact that we are on the right track, with the right cloud storage solutions, targeting the right customers," said Ali Jenab, Zetta CEO. "I am looking forward to taking Zetta to the next growth phase. Our sales team has a strong pipeline to work with in the upcoming months. Watch us for more exciting announcements."

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