Cloud storage enablement solutions company CTERA Networks yesterday announced that it had closed a second round of funding led by Venrock. Also participating in the investment, the company said, are existing investor Benchmark Capital and Cisco Systems, which is making a strategic investment. CTERA added that Venrock partner Ray Rothrock would join its board.
Petah Tikva-based CTERA Networks did not disclose the amount of money raised but it is believed to be in the vicinity of $15 million.
CTERA Networks said that," 2011 was a year of rapid growth for CTERA, culminating in seven consecutive quarters of consistent double-digit revenue growth and reaching more than 100,000 business end-users, primarily in North America and Europe. The new round of funding will be used to further accelerate the expansion of the CTERA team and address the strong worldwide market demand for the company’s solutions."
CTERA Networks bridges the gap between cloud and local storage, providing optimized performance and end-to-end security. The company’s solutions accelerate deployment of cloud services and eliminate costs associated with file servers, backup servers and tape drives. Service providers and enterprises use CTERA to deliver services such as backup, cloud on-ramping, file sharing, folder synchronization, and mobile access based on the storage infrastructure of their choice.
CTERA Networks offers native support for cloud storage infrastructure from multiple vendors including Hitachi Data Systems, EMC, IBM, and others.
CTERA Networks CEO Liran Eshel said, “As business users are drawn into unsecured consumer cloud services, enterprise-grade cloud storage is quickly becoming a must-have for service providers and enterprises. CTERA makes it possible for these organizations to create services that have consumer ease-of-use, enterprise security and choice of infrastructure. This recent round of funding, with Cisco’s participation, validates our cloud enablement strategy and will help us pave the way to faster, easier adoption of cloud storage.”
Published by Globes, Israel business news - www.globes-online.com - on March 22, 2012
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