Deals

Private cloud firm CTERA bags $25M to wean enterprises off Dropbox & Box

money cloud

Cloud storage carries inherent security risks, but private cloud solutions can drastically reduce those risks. They’re a safer option than cloud storage services like Box or Dropbox — and CTERA just raised a substantial funding round to make that process easier for security-conscious enterprises.

CTERA Networks has closed a $25 million funding round, the company announced today. Founded in Tel Aviv, Israel in 2008, CTERA makes file-sharing and backup software that enables companies to bring their cloud storage solution in-house. It also sells hardware that converts external hard drives into network-attached storage devices.

The company sells its technology directly to enterprises with existing cloud infrastructure, as well as to telecommunication providers, which resell CTERA’s tech to their own customers. CTERA has more than 21,000 business customers, according to the company.

Bessemer Venture Partners led CTERA’s $25 million round, which also included participation from existing investors Benchmark Capital, Cisco, and Venrock. With its new cash on-hand, the company’s current financing stands at $45 million.

“We’re thrilled to welcome Bessemer Venture Partners to our family of world-class investors and to usher in the platform era of enterprise cloud storage,” CTERA CEO Liran Eshel said in a statement.