UPDATED 11:25 EST / SEPTEMBER 13 2016

NEWS

Bessemer leads $25M investment into file sharing provider CTERA

While cloud lockers such as Box and Dropbox can make it much easier to manage business data, many organizations still prefer to handle employees’ file sharing activates on their own. As a result, they’re recruiting the help of providers like CTERA Networks Inc., which today raised $25 million from Bessemer Venture Partners, Cisco Systems Inc. and Vintage Investment Partners to seize upon on the demand.

Hundreds of companies including several from the Fortune 100 have already adopted the vendor’s technology, which makes it possible to exploit cheap off-premise storage resources without having to go through a third party provider. The first component of CTERA’s value proposition is a series of gateways that can link company’s cloud deployments with its on-premise hardware to allow for centralized management. Administrators are then able to configure what records should go where through a graphical control console. Backup files, for instance, can be sent outside the firewall to the infrastructure-as-a-service provider with the lowest storage rates, while confidential financial documents can be stored on more secure in-house arrays.

For organizations that have more advanced collaboration functionality, CTERA offers its flagship Enterprise File Services Platform, which integrates with its gateways but is also capable of running on a standalone basis. The system allows workers to exchange files with colleagues through a straightforward interface that provides all the core functionality found in cloud-based alternatives like Dropbox. There’s an automatic syncing feature for quickly copying data across devices, a set of mobile client and digital workplaces designed to allow team collaboration. Today’s funding will enable CTERA to expand the appeal of its platform even further.

The company plans to spend the capital mainly on expanding sales and marketing efforts, though it will no doubt also set aside some funds for developing new features. CTERA will need all the value-added capabilities it can developer to fend off rivaling file sharing providers like Egnyte that are also targeting security-conscious organizations. Meanwhile, Dropbox and Box are also churning out new enterprise functionality to maintain their lead.

Image via StockSnap

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