JetStream
Software Inc., an innovator in cloud data protection, today
announced Series A funding of $7.7 million to advance the company’s
unique technologies that enable managed service providers (MSPs) and
cloud service providers (CSPs) to deliver disaster recovery as a service
(DRaaS) and continuous data protection 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 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.
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, disaster recovery and business continuity
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 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. Additional technical innovations include:
-
Differentiated New Technology: Continuous data replication
through VMware vSphere IO Filters -
Unmatched 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 JetStream DR software is compatible with any type of datastore,
including VMware Virtual SAN or Virtual Volumes, traditional block or
file storage, or any hyper-converged infrastructure (HCI) from any
vendor. MSPs/CSPs can provide VM recovery for all types of 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 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.”
The investment decision process included rigorous technical testing,
commercial validation from channel partners, and synergy with the
Digital Alpha cloud portfolio, including Cloudian and UKCloud.
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.
About Digital Alpha
Digital Alpha is an investment firm focused on digital infrastructure
and services required by the digital economy, with a strategic
collaboration agreement with Cisco Systems, Inc. As part of this
agreement, Digital Alpha has preferred access to Cisco’s pipeline of
commercial opportunities requiring equity financing. Digital Alpha
believes that it is the first fund focused on making private equity
investments in the significant growth opportunities required to underpin
the Digital Economy, including smart cities, next generation networks,
and enterprise data management and communication solutions. For more
information, please visit www.digitalalpha.net/.
About JetStream Software
JetStream
Software Inc., an innovator in cloud software development, gives
managed service providers (MSPs), cloud service providers (CSPs), and
Fortune 500 enterprise clouds a better way to support workload migration
and business continuity across multi-cloud and multi-data center
infrastructures. JetStream Software is optimally suited to complement
VMware cloud infrastructures including VMware Cloud Provider Partners
(VCPPs) and VMware Cloud on AWS. JetStream Software is headquartered in
San Jose, California, with a wholly owned subsidiary in Bangalore,
India. The company is privately held. For more information, please visit www.jetstreamsoft.com/,
www.linkedin.com/company/jetstream-software-inc/
and @JetStreamSoft.
JetStream Cross-Cloud Data Management Platform, JetStream DR, JetStream
Migrate and JetStream Accelerate are trademarks of JetStream Software
Inc. All other brand names and product names are trademarks or
registered trademarks of their respective companies.
Tags: JetStream Software, Digital Alpha, Illuminate Ventures, data
protection, DRaaS, disaster recovery, business continuity, cloud
migration, CDP, cloud service providers, MSP, CSP, VMware, VMware Cloud,
cross-cloud, multi-cloud, VSPP, VMware Service Provider Partners,
virtual machines
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