JetStream Software Secures $7.7 million Series A Funding, Total Reaching $11.5 Million

JetStream Software Inc. announced series A funding of $7.7 million to advance the company’s technologies that enable MSPs and CSPs to deliver DR as a service (DRaaS) and CDP to enterprise customers, government agencies, and research and educational organizations.

Led by Digital Alpha Advisors, LLC, the series A investment is also supported by JetStream’s private and institutional seed investors. New to the funding round is Illuminate Ventures.

The investment will support continued product development, go-to-market strategies, and increased engagement with strategic partners.

Many information technology operations are rapidly shifting from on-premises systems and software to cloud-based services. Data protection is the top use case for enterprise hybrid cloud. As a part of this trend, data protection, DR and BC are increasingly provided by trusted MSPs and CSPs, who often lack native cloud DR capability. This shift presents new challenges and opportunities in the multibillion-dollar market for data management software.

JetStream Software’s product, JetStream DR, is a solution designed for cloud-based DR and BC.

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The software empowers service providers to deliver near-zero RPOs to maximize data protection as well as near-zero RTOs to maximize system recovery and availability.

Additional technical innovations include:

• Differentiated Technology: Continuous data replication through vSphere IO Filters
• Performance: Robust, high-throughput, fault-tolerant data replication and VM failover to recovery sites
• Cost Efficiency: Direct data replication into any S3-compatible object store, for data recovery

The software is compatible with any type of datastore, including VMware Virtual SAN or Virtual Volumes, traditional block or file storage, or any HCI from any vendor. MSPs/CSPs can provide VM recovery for customers from a single, centrally-managed environment to a large-scale data center infrastructure.

With the scalability and cost efficiency of VM recovery from object storage, plus compatibility with all types of virtualized environments, JetStream DR enables MSPs/CSPs to realize cloud economics in their DR service offerings. By replacing legacy, single-tenant data protection systems and recovery processes running on-premises, customers benefit from more convenient adoption and management, better performance, and overall lower cost of ownership.

On the investment, Digital Alpha managing partner Rick Shrotri said: “We are excited to invest in a team providing a highly differentiated technology with critical advantages for DR and BC as the market becomes increasingly cloud-centric. JetStream Software has developed a unique data management platform that will play a key role in the cloud transformation of the data protection industry. This initial investment by Digital Alpha will help JetStream Software add key contributors to its team and pursue larger business opportunities and strategic relationships. As the team achieves these objectives over the near term, we look forward to continued investment in the company.”

The investment decision process included technical testing, commercial validation from channel partners, and synergy with the Digital Alpha cloud portfolio, including Cloudian and UKCloud.

Tom Critser, CEO, Jetstream, said of the investment: “Digital Alpha brings unique advantages to our business and a strategic vision that sees our business leading the enormous transformation that is happening in our industry. The Digital Alpha portfolio is characterized by game-changing players in cloud transformation, and we will benefit greatly from Digital Alpha’s financial support, shared strategic vision, and deep industry relationships.”

In conjunction with the investment, Digital Alpha principal Aurin Bhattacharjee will join the board of directors of JetStream. He has more than seven years of experience at Google, most recently managing M&A strategy, competitive intelligence, and go-to-market planning for the Google Cloud Strategy and Operations team. He was previously with Google’s corporate finance team, where he worked on investments, financings and acquisitions.

Privately-held JetStream is headquartered in San Jose, CA, with a wholly-owned subsidiary in Bangalore, India.

Read also:
JetStream DR Cloud-Based Data Protection for Continuous Data Replication for Near-Zero RPO and RTO and Recovery From Object Storage
Software solution enabling CSPs and MSPs to deliver cloud-based services to enterprise customers with CDP, BC and DR
April 18, 2019 | Press Release