Data-updater CTERA handed $25m: Overheated sector could get NASty
Read original article here: http://www.theregister.co.uk/2016/09/19/ctera_gets_25_million_clod_and_nas/
By: Chris Mellor, The Register
Cloud storage startup CTERA has gained $25m in a funding round, following on from a similar one in 2014, and taking its total funding to almost $70m.
It was founded eight years ago and has developed a cloud storage gateway and NAS appliance with sync and share and end-point protection capabilities, which it calls an enterprise file services platform. The cash will fund sales and marketing initiatives to increase the global customer count.
Money came from lead investor Bessemer Venture Partners with some from Cisco, and with Vintage Investment Partners joining as a new investor.
CTERA claims it has more than 30,000 business customers and its core enterprise business increased revenue over 200 per cent year over year. The company says it’s all about data infrastructure modernisation.
We think suppliers like Dropbox, Box, Egnyte, Druva, Nasuni, Panzura, Syncplicity by Axway and others like Avere are increasingly colliding as cloud-based, file management companies; their spread of capabilities is converging. It’s NAS Jim, but not as we know it. ®