Ctera Networks Secures $25 Million in FundingTotal financing at $70 million
This is a Press Release edited by StorageNewsletter.com on 2016.09.14
CTERA Networks, Ltd. announced a $25 million investment round led by Bessemer Venture Partners with additional participation from Cisco Systems, Inc., and with Vintage Investment Partners joining as a new investor.
This new investment round brings total financing to date to nearly $70 million.
The funds will be used to fuel sales and marketing initiatives and accelerate global customer acquisition as the CTERA Enterprise File Services Platform becomes a standard for file storage, collaboration and data protection among secure and distributed enterprise organizations.
CTERA's Enterprise File Services Platform is a solution to address the spectrum of end user computing file management and data protection requirements. The solution integrates endpoint, office and cloud file services with IT security, cloud choice and automation. As a platform, CTERA's technology enables organizations to sync, serve and protect data from one centrally managed solution that is secure and deployable on any cloud infrastructure, all behind the customer's firewall.
"With organizations increasingly looking to modernize their data infrastructures, CTERA is uniquely poised to provide secure tools that offer easy and globally accelerated access to files and backups," co-founder and CEO Liran Eshel. "This newly announced investment round will enable CTERA to deliver best-in-class products, support and service to an even broader collection of forward-thinking enterprise customers."
2016 is company's biggest year ever
- Global Enterprise Adoption - CTERA continues to add hundreds of enterprise and government customers to the worldwide community of customers, including global projects such as the U.S. Department of Defense and Banco Santander.
- Accelerating Innovation - Over the past 12 months, the firm has added over 70 new features and capabilities to the Enterprise File Services Platform, making the solution faster, more secure, more cost-effective and more user-friendly.
- Technology Partner Ecosystem - The vndor is working with cloud and storage technology partners, including IBM, AWS, HPE, EMC, NetApp, and HGST to provide integrated and certified solutions and enable organizations to store their enterprise data on their terms.
- Industry Recognition - The firm was cited by Gartner receiving an Honorable Mention in its 2016 Magic Quadrant for Data Center Backup and Recovery Software; recognized in its 2015 Critical Capabilities for Enterprise Endpoint Backup; listed as a Representative Vendor in the 2015 Market Guide for Cloud Storage Gateways and as a Selected Vendor in the IT Market Clock for the Digital Workplace, 2016; and cited in the 2016 Take Responsibility for Backing Up Cloud-Based Data report.
According to Gartner(1): Data infrastructure modernization "will likely see rapid growth over the next three years. Organizations have deployed multiple data repositories over the years and must connect them to modern file sharing/ productivity/collaboration environments to accomplish digital transformation of the workplace."
CTERA has established a strong position in the emerging 'data infrastructure modernization' category by offering a solution that addresses local and cloud-based file sharing, endpoint data protection and cloud server data protection from one unified and completely private system.
(1) - Magic Quadrant for Enterprise File Synchronization and Sharing, Gartner, July 2016