CTERA Networks today has raised a $25 million investment round led by Bessemer Venture Partners with additional participation from Cisco, and with Vintage Investment Partners joining as a new investor. The company which has raised a total of $70 million, offers a data infrastructure modernization platform for government and enterprises.
CTERA says the funds will be used to fuel sales and marketing initiatives and accelerate global customer acquisition of the CTERA Enterprise File Services Platform.
According to Gartner, Data Infrastructure Modernization “will likely see rapid growth over the next three years. Organizations have deployed multiple data repositories over the years and must connect them to modern file sharing/ productivity/collaboration environments to accomplish digital transformation of the workplace.”
As CivSource reported yesterday, Rhode Island just launched the biggest IT modernization in that state’s history, which involved moving thousands of earned benefits records off a 30-year old legacy system and on to a new integrated platform. At the federal level, the General Services Administration and the Obama Administration have also proposed a $3.1 billion revolving fund that will help agencies transition away from legacy IT toward more modern options, such as cloud computing. More and more, public sector IT officials are realizing that continuing to stretch systems well beyond their lifecycle is becoming untenable as more cost efficient and secure systems become available.
CTERA claims that it offers the first and only that addresses local and cloud-based file sharing, endpoint data protection and cloud server data protection from one unified and completely private system. While still early in its development as a company, CTERA has already worked with the Texas Department of State Health Services to upgrade and secure its health data. Texas worked with CTERA and Amazon Web Services to manage authentication, sign-on, data backup and storage.