2024 has been a transformative year for CTERA. As we wrap up an outstanding year, I’m incredibly proud of our team, our customers, and the groundbreaking innovation that has driven us to new levels. I’m thrilled to share some of the milestones and breakthroughs that have defined our journey this year and laid the foundation for an even more impactful 2025.
A Year of Unprecedented Growth
We’ve had a fantastic year, with a 35% boost in annual recurring revenue (ARR) and an impressive 82% growth in the Asia-Pacific region. We’ve also doubled our number of enterprise customers generating seven-digit ARR, highlighting the growing demand for our solutions. These figures aren’t just stats; they reflect the trust our customers place in us and our essential role in helping organizations navigate the complexities of hybrid cloud and distributed data environments worldwide.
Our success isn’t limited to the private sector. We’ve seen significant traction in the government sector, with 60% growth. These achievements underscore our commitment to delivering secure, scalable, and innovative solutions tailored to the unique needs of both enterprises and public sector organizations.
Fueling the Future with Strategic Investment
In a pivotal moment for CTERA, we secured an $80 million growth investment from PSG Equity. This funding will supercharge our global expansion and reinforce our leadership in hybrid cloud data management. It’s also a golden opportunity to harness the transformative power of AI, unlocking new efficiencies and insights for our customers.
Innovating at the Cutting Edge
Innovation is our heartbeat. In 2024, we rolled out groundbreaking advancements that are reshaping how enterprises manage, protect, and derive value from their data. Here are some of the highlights:
- CTERA Data Intelligence: Allowing organizations to connect their file storage, within any choice of infrastructure – public, hybrid, or private, to their AI system of choice. It is a private semantic Retrieval-Augmented Generation (RAG) engine that uses live updates to keep AI current with corporate data ensuring insights are always accurate and up-to-date. It provides real-time private context while enforcing file permissions, preventing data leakage, and ensuring complete privacy and compliance.
- CTERA Insight: A visualization and analytics service that provides granular visibility into the content, usage, and security of data stored in the CTERA Global File System. Insight provides control, transparency, and operational insight into organizational data, with a 360-degree view through an intuitive interface.
- Advanced Ransomware Protection: New Honeypot capabilities for Ransom Protect fortify the AI-based ransomware defense engine by deploying decoy files to detect and block unauthorized access attempts and potential data theft before significant damage occurs.
- Microsoft Sentinel Integration: Enhancing data protection and incident response with advanced cybersecurity tools.
These innovations enable our customers to tackle the challenges of unstructured data growth, enhance their security posture, and unlock the potential of their distributed environments.
Expanding Our Leadership Team
To support our ongoing global growth and ambitious goals, we’ve strengthened our leadership team with key hires and promotions. I’m excited to welcome Cheryle Cushion as SVP of Marketing, Peter Mulvihill as VP of North America Sales, and Klaus Seidl as VP of EMEA. We’ve also promoted Daryl Tan to VP of APAC Sales, Shannon Pope to VP of Customer Success, and Mike Ivanov to VP of Product Marketing. Their expertise and vision will be crucial in driving our success in the coming years.
Recognition That Fuels Our Drive
Our commitment to excellence hasn’t gone unnoticed. From being named a Leader in the 2024 GigaOm Radar for Cloud-Native Globally Distributed File Systems for the fourth year in a row, and for two years in a row, a leader in Coldago Research Map for Cloud File Storage and TechTarget’s Enterprise Storage Products of the Year in the Enterprise Cloud Storage category to the Storries XXI Storage Awards for both Cloud Company of the Year and Software-Defined Storage Vendor of the Year, these accolades (to name just a few!) inspire us to continue raising the bar.
Looking Ahead
As we head into 2025, our mission remains clear: to empower enterprises to modernize their IT strategies while safeguarding their most valuable asset—their data. With the support of PSG Equity, our expanding global team, and our trusted partners worldwide, we’re ready to lead the next wave of innovation in hybrid cloud data management. The future of data intelligence is approaching fast, and at CTERA, we’re prepared to lead the way. We’re delivering innovative solutions that employ AI technology, redefining how enterprises unlock the full potential of their data. Stay tuned for exciting developments just around the corner!
To our customers, thank you for your partnership and trust. To our employees, thank you for your passion and dedication. And to our future customers, we can’t wait to show you the CTERA difference.
Here’s to another year of growth, innovation, and success.
Oded Nagel
CEO, CTERA
