Enterprise software firm CTERA raises $30m from Red Dot Capital, SingTel Innov8

The company intends to use the funds to expand its footprint globally, especially in Singapore, the home of SingTel Innov8.

By

Enterprise software firm CTERA raises $30m from Red Dot Capital, SingTel Innov8

US- and Israel-headquartered enterprise file management company CTERA Networks has raised US$30 million in a Series D funding round led by Red Dot Capital Partners and SingTel Innov8, the company said in a press release today.

Previous backers Benchmark Capital, Bessemer Venture Partners, Cisco, Venrock, Vintage Investment Partners, and Viola Group also participated again.

Founded in 2008, the firm primarily offers cloud-based enterprise file storage services, offering corporations a secure way of transferring data to any cloud service through its software. The company’s wide range of clients includes McDonalds, the U.S. Department of Defense, as well as banks, and insurance firms. According to its website, CTERA is being used by 50,000 businesses in over 110 countries.

The funds will be used to expand CTERA’s footprint globally, especially in Asia. Within the region, it highlighted Singapore and the rest of Southeast Asia as key growth markets.

Takeaways: 

— Both new backers have ties to Singapore. SingTel Innov8 is the venture capital arm of Singapore’s largest telco. They can help CTERA expand its presence in the city-state and the rest of the region. SingTel, for example, does not merely have operations in Singapore where it was founded, but has a number of subsidiaries and strategic investments across Asia. This includes Optus in Australia, Telkomsel in Indonesia, AIS in Thailand, and so on.

— Red Dot Capital Partners, on the other hand, is an Israel-based vehicle funded by Temasek Holdings, an investment firm owned by the Government of Singapore. It backs several Israeli deep tech companies, mostly in the enterprise software and cyber security space, who are expanding.

Editor: Nadine Freischlad