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Funding Validates Market Leadership, Traction and Continued Demand for CloudEndure’s Live-Migration and Disaster Recovery Solutions
NEW YORK, NY – April 13, 2016 — /BackupReview.info/ — 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.”
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