New York, NY, July 17, 2024 (GLOBE NEWSWIRE) -- CTERA, a leader in hybrid cloud data management, today announced that it has raised $80 million in primary and secondary funding from PSG Equity, a leading growth equity firm focused on software and technology-enabled services companies. As part of the transaction, Ronen Nir, Managing Director at PSG, has joined CTERA's board of directors alongside existing shareholders Benchmark, Bessemer Venture Partners, and Red Dot Capital Partners. CTERA, named the top Leader and Outperformer in the GigaOm Distributed Cloud File Storage Radar for three consecutive years, combines an edge-accelerated global file system across public and private cloud environments with AI-based ransomware protection and data intelligence services. CTERA is at the core of hybrid cloud initiatives at some of the world's largest banks, healthcare organizations, global media groups, and government agencies, in deployments that scale to tens of petabytes. Unstructured data is a critical component of any enterprise storage strategy, representing about 80% of organizational data distributed across branch offices, endpoints, on-premises, and cloud data centers. Within this space, hybrid cloud ...