CTERA Networks Closes $25 Million Series C Round to Accelerate Adoption of Its Cloud Storage Platform

CTRA Networks, a cloud storage services platform founded in 2008, has announced a $25 million Series C financing. Using the funds to accelerate adoption of its Cloud Storage Services Platform, CTERA is planning to build out its global go-to-market organization.

cloud-storage
Last year, CTERA Networks was recognized by Gartner as one of the Cool Vendors in Storage Technologies.

Designed for large enterprises and cloud hosting service providers alike, CTERA’s 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, CTERA’s technology enables organizations to sync, serve and protect data from one centrally managed solution that would be secure and deployable on the cloud infrastructure of their choice.

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

$4B under management

Earlier this year, the company announced 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 hosting 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.

Bessemer Venture Partners (BVP) invests in early-stage, hyper-growth startups, partnering closely with entrepreneurs to build durable businesses. BVP is a global firm with offices in Menlo Park, Cambridge, New York, Mumbai, Bangalore, Herzliya and Sao Paulo. With $4 billion under management, BVP invests anywhere from $100,000 to $75 million in innovative companies like LinkedIn, Shopify, Yelp, Skype, CornerstoneOnDemand, Pinterest, Box and Twilio.

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