Hybrid cloud data management provider Ctera on Wednesday announced that it has raised $80 million in primary and secondary funding from private investor PSG Equity. Previously, the company had raised over $100 million across five funding rounds.
Founded in 2008, the New York-based file storage and sharing firm provides a rich data services ecosystem in a cloud-native global file system over public and private cloud, helping organizations gain control of their data, for performance, insights, and governance.
Ctera notes that hybrid cloud file storage is seeing wide adoption as unstructured data becomes a critical component of enterprises’ storage strategy, representing roughly 80% of the organizational data distributed across cloud, endpoints, and on-premises storage.
The company says its hybrid cloud platform, which includes AI-based ransomware protection and data intelligence, is already used by hundreds of organizations worldwide, including large banks, healthcare organizations, government agencies, and media groups.
Ctera says it will use the primary funding of the new investment to grow its business and further implement AI into its services. The secondary funding will be used to buy out existing shareholders.
“We believe CTERA is setting the standard for the modern hybrid data platform, with military-certified security and unparalleled performance. The strategic partnership with PSG will enable us to further drive our expansion while delivering top service to our customers, and implement our vision for AI data services,” Ctera founder and Chairman of the Board Liran Eshel said.
Ctera has offices in Israel, the USA, France, Germany, Italy, India, Spain, Singapore, and the UK, and employs approximately 150 people.
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