JetStream Software secures Series A funding to advance DRaaS and cloud data protection solutions
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- Published: Wednesday, 29 May 2019 08:52
JetStream Software Inc. has announced new Series A funding of $7.7 million to advance the company’s technologies that enable managed service providers (MSPs) and cloud service providers (CSPs) to deliver disaster recovery as a service (DRaaS) and continuous data protection.
Led by Digital Alpha Advisors, LLC, the Series A investment is also supported by JetStream Software’s private and institutional seed investors. New to the funding round is Illuminate Ventures. The investment will support continued product development, innovative go-to-market strategies, and increased engagement with key strategic partners.
JetStream Software’s flagship product, JetStream DR, is a first-of-its-kind solution designed specifically for cloud-based disaster recovery and business continuity. The software empowers service providers to deliver near-zero recovery point objectives (RPOs) to maximize data protection as well as near-zero recovery time objectives (RTOs) to maximize system recovery and availability.
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 business continuity 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.”
Tom Critser, CEO, JetStream Software, 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 Software. Mr. Bhattacharjee 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.