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CTERA raised $80 million in secondary funding led by PSG Equity to allow veteran investors to exercise their holdings in the company.

Jul 17, 2024•12 months ago

Amount Raised

$80 Million

New YorkArtificial IntelligenceInformation Technology

Investors

Red Dot CapitalBenchmarkBessemerPsg Equity

Description

CTERA, an Israeli company developing a hybrid cloud data platform, has secured $80 million in funding primarily to enable veteran investors to exercise their holdings in the company. A significant portion of the funding was secondary, while another part will be directly invested into the company. The investment was led by PSG Equity, an American investment fund specializing in software and technology companies in growth stages.

Company Information

Company

CTERA

Location

New York, New York, United States

About

CTERA is an Israeli company that develops a hybrid cloud data platform, enabling distributed file storage in private and public cloud environments with accelerated access from remote sites and AI-based protection against ransomware attacks. They provide solutions to large corporations such as leading banks, insurance companies, healthcare organizations, media groups, and government agencies worldwide. CTERA has strategic partnerships with IBM, HPE, and Hitachi Vantara.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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