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BVP leads $25 Series C for cloud platform CTERA Networks

2 Jul 2014

cielo-1443864-mBessemer Venture Partners has invested the biggest chunk in a $25m financing round for cloud company CTERA Networks.

Existing investors Benchmark Capital, Cisco, and Venrock participated once again in the Series C round.

CTERA said it will use the cash to expand the adoption of its cloud storage services platform and build out its global go-to-market organisation. The business currently has 21,000 companies on its books.

Bessemer partner Adam Fisher said, “There is a wave of disruption transforming how organisations deploy and manage data storage that is propelled by the adoption of centrally delivered and managed, cost-effective, and scalable cloud storage, and CTERA is at the centre of it all.”

This week BVP announced it had appointed two new vice presidents to focus on investments in the software, mobile and digital media sectors.

The venture capital firm took part in a $12m Series B investment round for Israeli website optimisation and personalisation specialist Dynamic Yield last month.

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