CTERA's $80 Million Funding Round Highlights Growth and Advanced Data Management Solutions

CTERA, the Israeli hybrid cloud data management startup, has successfully raised $80 million in a primary and secondary funding round spearheaded by growth equity firm PSG Equity. As part of the deal, PSG managing director Ronen Nir has joined CTERA's board, alongside existing board members from Benchmark, Bessemer Venture Partners, and Red Dot Capital Partners.

While CTERA’s updated valuation remains undisclosed, the latest funding surpasses the company's 2018 investment round. PSG Equity has acquired a significant, though less than majority, stake in CTERA, buying out shares from seasoned investors including Venrock.

CTERA specializes in an edge-accelerated global file system designed for both public and private clouds, offering AI-driven ransomware protection and data insights. The company’s technology supports hybrid cloud infrastructures handling tens of petabytes for leading banks, healthcare organizations, media companies, and government agencies. The increasing need for efficient unstructured data management is underscored by the growing demands of AI systems, users, and applications.

Source: Startup Rise