Zerto lays off staff to survive ‘storm’

Zerto, the disaster recovery startup, laid off a “ton of employees” today, according to a source. We asked Zerto about this, using this exact phrase.

In response Zerto sent us the following statement: “In this new economy, financial viability is key. The winning companies will be the ones who successfully transition and put themselves on a path to profitability. 

“Zerto has today committed to streamline its core business and reduce operating expenses. We made this move to ensure that Zerto will weather this storm and will continue to be successful. It was an extremely difficult decision, but we are taking these steps to ensure that Zerto remains financially strong now and in the future.”

Zerto was founded in 2009 and has taken in $129m in funding, with the last round in 2016 totalling $70m. Since then it has been growing while burning cash on the one hand and  receiving revenue from sales on the other.

Last week the company announced the release of Zerto 8, which among other things, adds support for backup and disaster to VMware workloads on Google Cloud Platform.

Hyperconverged storage system vendor Pivot3 last week also laid off staff.

- Advertisement -