CTERA Networks Finishes 2012 with 500 Percent Revenue Growth
Fortune-100 Wins, Tier-1 Service Providers and Channel Expansion Contribute to Banner Year
PALO ALTO, Calif. and PETAH TIKVAH, Israel, Feb. 13, 2013 /PRNewswire/ -- CTERA Networks, the leader in cloud storage enablement, today announced it finished 2012 with record results. CTERA saw 500 percent annual revenue growth for the second year in a row, adding up to twelve consecutive quarters of double digit growth. The company's stellar performance was driven by strong demand for cloud-based file sync & share and remote office storage solutions.
According to a recently published MarketsandMarkets report*, the cloud storage gateway market is expected to reach $3.5 billion by 2018 at a staggering annual growth rate of 80 percent. CTERA, which was the first company to launch a cloud storage gateway in 2009, continues to be the market share leader with tens of thousands of installed appliances and hundreds of thousands of end-users.
During the past year, CTERA significantly expanded its product offerings to provide the industry's only solution combining cloud storage gateways, private file sync & share and hybrid backup. The CTERA solution is managed from a unified, cloud-neutral service delivery platform, designed to meet the needs of both service providers and large enterprises.
Highlights of 2012 included:
- Multiple successful deployments at Fortune-100 companies
- CTERA powered offerings by some of the world's top service providers, including Telefonica, France Telecom, Swisscom and Bezeq International
- New distribution partnerships with Synnex, Zycko and Exclusive Networks
- Doubling the number of active MSPs and resellers to more than 750
- Completing an investment round from Venrock and Cisco, joined by existing investor Benchmark
- Expansion of the executive team in North America and Europe
- Doubling of headcount in USA, UK, France, Germany, Italy, Spain and Israel
- Champion and Trend Setter designation in Info-Tech Research Group's vendor landscape report
- Winning the "Best of Show" MSPWorld Cup award
"We've seen tremendous growth coming from both large-scale deployments as well as from the growing number of channel partners," said Liran Eshel, founder and CEO, CTERA Networks. "Our enterprise customers are seeing as much as 80 percent cost reduction, while our cloud service provider partners are seizing the opportunity to offer cloud storage services. Our success across segments is a testament to the robustness and scalability of our technology, and to the exploding demand for solutions that extend cloud storage beyond the datacenter to remote locations, branches and mobile users."
About CTERA Networks
CTERA Networks is the leader in cloud storage enablement, revolutionizing storage, data protection and collaboration for enterprise and SMBs. Its hybrid Cloud Attached Storage® architecture combines secure cloud storage services with on-premises appliances and managed agents. CTERA pioneered the cloud storage gateway concept, with tens of thousands of units deployed, and its scalable cloud service delivery platform is used by leading service providers and enterprises, on the public or private cloud infrastructure of their choice. For more information, visit www.ctera.com. Follow CTERA on Twitter: http://www.twitter.com/CTERA
* MarketsandMarkets Cloud Storage Market, Worldwide Forecasts & Analysis (2012 – 2018) – January 2013
SOURCE CTERA Networks
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