Record Results for Ctera in 2023

Ctera Networks, Ltd. announced record results for 2023, driven by strong demand for its new AI-based ransomware protection.

Ctera Ransom Protect, which was awarded a leadership position by GigaOm, provides zero-day protection vs. the wide-spreading attacks that were estimated to have inflicted $30 billion in total damage to organizations in 2023.

Ctera realized over 30% growth in annual recurring revenue for its edge-to-cloud solutions. Ctera also doubled its number of 7-figure deals in 2023, securing major contracts with state agencies, leading banking institutions, and global media groups, as well as expanding its presence in Asia, winning new customers in India, Australia, and Singapore.

“We are thrilled by the staggering market reaction to our recent product releases, which combined with the expansion of our strategic partnerships, have played a pivotal role in increasing our reach and impact,” said Oded Nagel, CEO. “Our technology is at the forefront of the industry, used for managing over 200PB of data and hundreds of billions of files, in thousands of medical centers, financial services sites, engineering sites, creative content studios, and mission-critical military and government agencies.“

2023 highlights include: 

• Recognized Leadership: The company was named top Leader and Outperformer in the GigaOm Distributed Cloud File Storage Radar for the 3rd year in a row, and was also designated as a leader and a Fast Mover in the GigaOm 2023 Sonar Report for File-Based Primary Storage Ransomware Protection.
• Strategic Partnerships: It announced a new strategic sourcing agreement with Hitachi Vantara in 2023, integrating with the Hitachi Content Platform (HCP) Anywhere Enterprise solution and providing a migration path for customers using legacy HCP Gateway, Hitachi Data Ingestor, or other NAS This partnership is an important extension to Ctera’s current strategic ecosystem that includes major vendors such as AWS, HPE, and IBM.
• Revamped Partner Program: In June, it announced its global partner program to empower its resellers, MSPs, and system integrators. Named the Ctera Partner Program, it rewards channel partners based on their level of activity, balancing competency-based requirements with tangible benefits and enhanced incentives to drive recurring revenue.
• Ctera Ransom Protect: An AI-based ransomware protection engine that identifies file access anomalies without relying on external signature updates and provides zero-day alerting, allowing organizations to block the attackers and fully recover from immutable snapshots.
• Ctera Fusion: Unified File and Object: An S3 interface that allows object-native applications to connect directly with Ctera file repositories. It extends firm’s data services suite designed to assist organizations in building automated unstructured data workflows.
• Ctera Vault: WORM protection. It defends data tampering risks and enables regulatory compliance.
• Other Awards: Was recognized as a Top 5 Enterprise Cloud-based NAS Consolidation solution by DCIG and the leader in Coldago Research Map for Cloud File Storage. Also won the Cloud Computing Security Excellence Award, Cloud Computing Product of the Year, and an SDC Award for Cloud Storage Innovation of the Year among other accolades over the course of the year.