CTERA Networks closes Series D on $30m

CTERA Networks, a global leader in secure enterprise file services, today announced it has secured a $30m Series D growth equity funding round.

The round was led by Red Dot Capital Partners, a Temasek Holdings backed growth fund, with the support of new investor Singtel Innov8. It also featured participation of all existing shareholders Benchmark Capital, Bessemer Venture Partners, Cisco, Venrock, Vintage Investment Partners and Viola Group. The Series D capital brings the company’s fundraising total to $100m.

CTERA’s new investment, which brings the company’s fundraising total to $100m to date, will be used to expands its global sales and delivery organisation, with an emphasis on growth in Asia, and particularly in Southeast Asia and Singapore.

“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,” said Yaniv Stern, managing partner at Red Dot Capital Partners, who will join the CTERA board.

“We were highly impressed with the unparalleled level of security provided by the solution, and the pedigree of customers and partners CTERA serves.”

Trusted by Fortune 100, government organisations and leading service providers, CTERA provides a cyber-hardened and completely unified file sharing and data protection platform that allows enterprise IT to address the full continuum of global file services from the cloud infrastructure of their choice.

Founded in 2008 by a group of IT security veterans, CTERA provides a secure digital transformation solution for financial services firms with a unified platform that claims to modernise file storage, content collaboration, and data protection.

CTERA helps any organisation doing business in the European Union meet the privacy and security requirements defined by the GDPR (General Data Protection Regulation). Its enables customers to consolidate distributed file data into a centralized repository where data governance tools can deliver insight into security and access control procedures.

“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,“ said Liran Eshel, co-founder and CEO, CTERA. “With over 50,000 edge filers and millions of corporate desktop users deployed, CTERA is leading the way in secure enterprise file services. We are delighted to welcome Red Dot and Singtel Innov8 to CTERA and look forward to working with them and our other shareholders to continue our growth momentum and global expansion.”

Copyright © 2018 RegTech Analyst

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