CTERA Networks secures $25m in funding to ‘power up’ sales execution
Israel-based cloud storage and data protection company CTERA Networks has received $25 million (£18.9m) in an investment round led by US-based Bessemer Venture Partners, which brings the company’s total financing to nearly $70 million to date.
Cisco and Israeli investment management firm Vintage Investment Partners also participated alongside Bessemer in the investment round.
The funds will be used to boost the company sales and marketing initiatives as well as to push global customer acquisition of its CTERA Enterprise File Services Platform, which allows a gold standard for file storage, collaboration and data protection among secure and distributed enterprise organisations.
The CTERA Enterprise File Services Platform assimilates endpoint, office and cloud file services with uncompromising IT security, cloud choice and automation. The company claims that it is the only solution that can address a variety of end-user computing file management and data protection requirements.
It enables organisations to sync, serve and protect data from one centrally managed solution that is 100 per cent secure and deployable on any cloud infrastructure, all behind the customer’s firewall.
Liran Eshel, co-founder and CEO at CTERA: “With organisations increasingly looking to modernise their data infrastructures, CTERA is uniquely poised to provide secure tools that offer easy and globally accelerated access to files and backups. 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.”
Jeff Denworth, CTERA SVP marketing, wrote in a blog post that the funding was a “terrific validation” of the company’s vision and execution. “While the business is growing at a very healthy pace, we’ve made the decision to ‘power up’ the sales execution and solution delivery engine to tackle a unique market opportunity that CTERA is well posed to lead in,” he said.