500% Y/Y Revenue Growth for Ctera

CTERA Networks, Inc. finished 2012 with record results.

It saw 500% annual revenue growth for the second year in a row, adding up to twelve consecutive quarters of double digit growth. The company’s performance was driven by strong demand for cloud-based file sync & share and remote office storage solutions.

According to a recently published MarketsandMarkets report, Cloud Storage Market, Worldwide Forecasts & Analysis (2012 – 2018) – January 2013, the cloud storage gateway market is expected to reach $3.5 billion by 2018 at a CAGR of 80%.

CTERA launched a cloud storage gateway in 2009, now with tens of thousands of installed appliances and hundreds of thousands of end-users.

During the past year, CTERA expanded its product offerings to provide a solution combining cloud storage gateways, private file sync & share and hybrid backup. The solution is managed from a unified, cloud-neutral service delivery platform, designed to meet the needs of both service providers and large enterprises.

Highlights of 2012 included:

• Multiple deployments at Fortune-100 companies
• CTERA powered offerings by some of the world’s top service providers, including Telefonica, France Telecom, Swisscom and Bezeq International
• New distribution partnerships with Synnex, Zycko and Exclusive Networks
• Doubling the number of active MSPs and resellers to more than 750
• Completing an investment round from Venrock and Cisco, joined by existing investor Benchmark
• Expansion of the executive team in North America and Europe
• Doubling of headcount in USA, UK, France, Germany, Italy, Spain and Israel
• Champion and Trend Setter designation in Info-Tech Research Group’s vendor landscape report
• Winning the Best of Show MSPWorld Cup award

"We’ve seen tremendous growth coming from both large-scale deployments as well as from the growing number of channel partners," said Liran Eshel, founder and CEO, CTERA Networks. "Our enterprise customers are seeing as much as 80% cost reduction, while our cloud service provider partners are seizing the opportunity to offer cloud storage services. Our success across segments is a testament to the robustness and scalability of our technology, and to the exploding demand for solutions that extend cloud storage beyond the datacenter to remote locations, branches and mobile users."