Israeli secure enterprise file services company CTERA Networks today announced it has raised $30 million in a Series D financing round led by Red Dot Capital Partners, a Temasek Holdings backed growth fund, with the support of new investor Singtel Innov8 and with the participation of all existing shareholders: Benchmark Capital, Bessemer Venture Partners, Cisco, Venrock, Vintage Investment Partners and Viola Group.
The new investment will be used for the expansion of CTERA’s global sales and delivery organization, with an emphasis on growth in Southeast Asia and Singapore. In addition, it will be used to power the continued development of CTERA’s patented file services technology.
Based in Petah Tikva and New York, CTERA, was founded in 2008 by CEO Liran Eshel and Zohar Kaufman, has raised $100 million to date including the latest financing round.
This funding round follows a year of record results for CTERA, in which the company has more than doubled its enterprise software subscription revenue, signed strategic reselling agreements with IBM and HPE, and continued to add world-leading organizations to its customer base. These include McDonald’s, WPP Plc and the U.S. Department of Defense, as well as global top-5 banks, insurance companies, global advertising groups and defense organizations.
Eashel said, “Today more than ever, IT leaders realize that traditional file storage systems are being replaced by modern software-defined file platforms that efficiently connect the edge of the network to the cloud. With over 50,000 edge filers and millions of corporate desktop users deployed, CTERA is leading the way in secure enterprise file services."
Red Dot Capital Partners managing partner Yaniv Stern said, “CTERA addresses one of the hottest topics in IT today, which is how to provide corporate users with secure and accelerated data access from any device to any cloud. We were highly impressed with the unparalleled level of security provided by the solution, and the pedigree of customers and partners CTERA serves. We are excited to join forces with the company and help drive its global expansion.”
Published by Globes [online], Israel business news - www.globes-online.com - on October 2, 2018
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