Record 2018 Year for Ctera, Doubling Enterprise Software Subscription Revenue Y/Y

CTERA Networks Ltd. announced a record year in 2018 in which it doubled enterprise software subscription revenue year-over-year.

Momentum was driven by strong demand from large organisations with high priorities for unstructured data management and security across on-premises and cloud.
 
Strong business results capped a successful year in which CTERA secured $30 million in series D funding, developed strategic partnerships and continued its 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. “CTERA is primed to capitalise 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.“
 
2018 business highlights include:

Customers

• Added more than 50 new large enterprise customers in 2018, in addition to expansion in existing accounts. Won multiple deals greater than $1 million in the financial, government, media, and healthcare verticals.

Product

• Extended the its 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 optimisation.

Partners

• Expanded the partner ecosystem, providing customers choice for infrastructure and managed services.

Geographic Expansion

• Opened Asia HQs 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 organisations today have several relationships spanning on-premises object storage and large public cloud vendors, all of which have various benefits for unstructured 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.”