New York City – February 12, 2019 – CTERA Networks, the global leader in secure edge-to-cloud file services, today announced a record year in 2018 in which it doubled enterprise software subscription revenue year-over-year. CTERA’s momentum was driven by strong demand from large organizations with high priorities for unstructured data management and security across both on-premises and cloud.
CTERA’s strong business results capped a successful year in which CTERA secured $30M in Series D funding, developed strategic partnerships and continued its global expansion.
“The balance of enterprise storage investment has shifted away from NAS and traditional systems towards multi-cloud solutions that provide scale and cost savings,” said Liran Eshel, CEO of CTERA. “CTERA is primed to capitalize on a high-growth market opportunity by delivering a modern, software-defined platform with unparalleled security and performance, enabling enterprises to migrate file storage, collaboration, and data protection to the cloud on their terms.”
CTERA’s 2018 business highlights include:
Customers
Added more than 50 new large enterprise customers in 2018, in addition to major expansion in existing accounts. Won multiple deals greater than $1M in the financial, government, media, and healthcare verticals.
Product
- Extended the CTERA Edge Filer line with new appliances boasting larger capacities and all-flash options.
- Launched new data loss prevention capabilities to enhance the protection of sensitive enterprise data.
- Introduced smart cloud tiering capabilities for cloud cost optimization.
Partners
Expanded the CTERA global partner ecosystem, providing customers best-of-breed choice for infrastructure and managed services.
Geographic Expansion
Opened the CTERA Asia headquarters in Singapore with local sales and delivery resources to build on an emerging market opportunity in the APAC region.
Funding
Completed a $30 million Series D growth equity funding round, with the participation of all existing investors as well as new shareholders Red Dot Capital, a Temasek holdings-backed growth fund, and Singtel Innov8.
“Most organizations today have several relationships spanning on-premises object storage and large public cloud vendors, all of which have various benefits for unstructured data storage,” said George Crump, president of IT analyst Storage Switzerland. “This multi-cloud ecosystem has created the need for solutions like CTERA that bridge the gap between edge and cloud by ensuring fast file accessibility for users whenever and wherever they need it, and by moving data seamlessly between clouds to take advantage of pricing, available resources, and unique capabilities.”