New York — December 9, 2015 — 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 (DR) 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 Ventures and Corporate Development, 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.”
Infosys is a global leader in consulting, technology, outsourcing and next-generation services. We enable clients, in more than 50 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence. Visit www.infosys.com to see how Infosys (NYSE: INFY), with US$ 8.7 billion in annual revenues and 187,000+ employees, is helping enterprises renew themselves while also creating new avenues to generate value.
About Magma Venture Partners
Magma is a leading venture capital firm founded in 1999 with over $500 million under management. Magma specializes in investments in early stage companies developing innovative technologies in sectors such as Software/Platform/Infrastructure as a service (SaaS, PaaS, IaaS), data storage, cyber security, internet, mobile, cloud and new media. Magma focuses on Israeli-related opportunities and helps to build companies that target global markets and create industry leading success stories. Notable exits include: Waze (acquired by Google), Onavo (acquired by Facebook), Provigent (acquired by Broadcom), Wintegra (acquired by PMC-Sierra), DesignArt (acquired by Qualcomm) and others. For more information, please visit www.magmavc.com.
CloudEndure provides Cloud Migration and Cloud Disaster Recovery for any application, allowing companies to mobilize entire applications with their data to and across clouds with near zero downtime and no data loss. CloudEndure enables truly consistent, block-level, real-time replication using continuous data protection. Founded in 2012, CloudEndure’s Cloud Workload Mobility technology creates an exact copy of the entire application at an alternative cloud location – at the touch of a button, within minutes, and with the latest data. CloudEndure supports physical, virtualized or cloud-based applications as the source and Amazon Web Services (AWS), Google Cloud Platform, Microsoft’s Azure and OpenStack as target cloud locations. For more information, please visit www.cloudendure.com.