The Israeli startup received Series C funding led by Bessemer Venture Partners for its cloud storage system platform
Israeli cloud storage company CTERA Networks on July 2 announced that it raised $25 million in Series C funding to help it build out its global go-to-market organization and accelerate it platform.
Bessemer Venture Partners led the round. CTERA’s existing investors Benchmark Capital, Cisco and Venrock also participated in the funding.
“CTERA was founded on the belief that organizations will need to control their cloud agenda by delivering secure storage services from the clouds of their choice,” Liran Eshel, co-founder and CEO of CTERA, said in a statement. “Every day, we’re inspired by our enterprise and service provider customers who are enabling users to modernize the way they sync, serve, and protect data. We’re thrilled to welcome Bessemer Venture Partners to our family of world-class investors and to usher in the platform era of enterprise cloud storage.”
Up in the clouds
Based in Petah Tikvah, CTERA is the designer of a cloud storage services platform for large enterprises and service providers that combines enterprise endpoint backup software, enterprise file sync and share software, and cloud storage gateway appliances. Its platform also allows organizations to protect data from one centrally managed solution that is 100% secure and deployable on the cloud infrastructure of their choice.
CTERA was founded in 2008 by IT security experts Liran Eshel and Zohar Kaufman, both of whom previously worked at SofaWare Technologies, which was acquired by Check Point Software Technologies. In June, CTERA opened a new office in New York.
CTERA serves more than 21,000 businesses and has shipped more than 30,000 cloud storage gateways. In a blog post, Eshel said the cloud market is growing more than 25% annually, which is rapid growth for a $100 billion market.
“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,” Adam Fisher, a partner at Bessemer who is now joining CTERA’s board, said in a statement. “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. We’re excited to partner with this emerging leader as it capitalizes on a unique market opportunity.”