Customers are demanding cloud-based file data services, and both CTERA and Nasuni have grown significantly on this backdrop.
Such services include cloud-based object storage vaults that store files and provide access to customers’ distributed data centers, remote sites, and endpoints (typically with local caching to speed up access). is used). A central cloud repository synchronizes file state changes. His startups CTERA and Nasuni are two such suppliers, with Egnyte and Panzura also active.
CTERA announces record performance in 2023, driven by strong demand for AI-based CTERA Ransom Protect. The company recorded over 30% growth in annual recurring revenue from 2002 to 2023. It has been announced that it has won major contracts with government agencies, major banking institutions, and global media groups. CTERA also expanded its presence in Asia, gaining customers in India, Australia and Singapore. Manage hundreds of billions of files containing over 200PB of data.
CEO Oded Nagel said in a statement: “We are excited by the incredible market response to our recent product releases. This, coupled with the expansion of our strategic partnerships, continues to expand our reach and impact. He played an extremely important role in raising the bar.”
Competitor Nasuni also had a strong year in 2023, with ARR increasing by 30%. CEO Paul Flanagan said: “Over the past five years, we have averaged stable annual recurring revenue growth of 30%, and we are proud to continue to do so in 2023. We have remained in the top 10. The business has a positive cash flow for the year.”
Nasni “has more than 800 customers, more than 500 employees and has a very strong balance sheet that allows it to avoid layoffs,” he claimed. The annual contract value of new customers increased by 46%, and in 2023 he acquired over 120 large enterprise customers, making his first eight-figure customer contract for the Nasuni File Data Platform product.
Similar to CTERA, the focus is on ransomware protection, with a 71% connection rate for ransomware detection on new customer sales in 2023.
Competitor Panzura has just appointed a new CEO to improve its growth rate.
