CTERA Raises $80 Million in Funding

CTERA Raises $80 Million in Funding

CTERA, a New York-based hybrid cloud data management solutions provider, has raised $80 million in funding

The investment was from PSG Equity, a growth equity firm that partners with software and technology-enabled services companies to drive transformational growth and seize strategic opportunities. With over 140 companies backed and 500 add-on acquisitions, PSG offers extensive investment experience and deep expertise. Founded in 2014, PSG has offices in Boston, Kansas City, London, Madrid, Paris, and Tel Aviv.

PSG Equity Managing Director Ronen Nir joined CTERA's board of directors.

The company will use the funding to expand its solutions and propel its expansion efforts.

Founded in 2008, CTERA is a hybrid cloud data platform offering a cloud-native global file system over public and private storage, along with a comprehensive data services ecosystem. It supports hybrid cloud transformations for major banks, healthcare organizations, media groups, and government agencies, with deployments scaling to tens of petabytes. CTERA’s mission is to enable cloud-driven enterprise IT organizations to deliver secure file services.

Funding Details

Company: CTERA Networks Ltd

Raised: $80.0M

Round: Growth Round

Funding Month: July 2024

Lead Investors: PSG Equity

Additional Investors:

Company Website: https://www.ctera.com/

Software Category: Hybrid Cloud Data Management