Cloud storage co CTERA Networks raises $25m

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CTERA will accelerate adoption of its platform and build global marketing.

Cloud storage company CTERA Networks. has raised $25 million Series C financing. The Petah Tikva based company said it would use the funds to accelerate adoption of its Cloud Storage Services Platform, develop its global marketing organization, and build upon its existing success in the worlds largest and most demanding cloud environments.

The financing round was led by Bessemer Venture Partners who join existing CTERA investors Benchmark Capital, Cisco, and Venrock who also participated in the Series C round.

The company was founded by CEO Liran Eshel and VP R&D Zohar Kaufman.

Designed for large enterprises and service providers alike, CTERAs Cloud Storage Services Platform is a cloud storage solution to combine enterprise endpoint backup software, enterprise file sync and share software, and cloud storage gateway appliances. As a platform, CTERAs technology enables organizations to sync, serve and protect data from one centrally managed solution that is 100% secure and deployable on the cloud infrastructure of their choice.

Earlier this year, the company reported that more than 21,000 businesses are powered by CTERA technology, and marked the shipment of more than 30,000 CTERA Cloud Storage Gateways to date. CTERA has been selected as the platform-of-choice by Fortune 1000 customers across a number of industries, including financial services, banking, advertising, telecommunication, utilities, manufacturing, and many more.

We are extremely impressed by the strength and breadth of the CTERA Platform and the validation that the company has already received by world-leading enterprise and cloud service provider customers, said Adam Fisher, a partner at Bessemer who, as part of the financing round, will join CTERA's board of directors. There is a wave of disruption transforming how organizations deploy and manage data storage that is propelled by the adoption of centrally delivered and managed, cost-effective, and scalable cloud storage, and CTERA is at the center of it all."

Published by Globes [online], Israel business news - - on July 3, 2014

Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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