SD-WAN FEATURED ARTICLE
SD-WAN Startup Sees Influx of Funds with Successful Series D
For startups, finding funding can prove a daunting task. However, if the startup is serving up a solution meeting a growing demand, it may not be so difficult. Take the SD-WAN space as an example. Pegged for explosive growth in the coming years, the landscape launched with a handful of vendors – comprised of a majority of startups – that are embracing the digital transformation at hand, and providing the enterprise with the next generation of networking solutions.
As demand grows for this burgeoning technology, so too does investor interest. Recently, VeloCloud announced a successful series D round of funding. Led by Hermes Growth Partners, VeloCloud netted $35 million to continue its work in meeting the growing demand for this nascent technology arena.
In specific, VeloCloud will utilize the influx of funds to expand business, operations and capacity as it moves to speed up product development and customer rollouts. VeloCloud has garnered $84 million in total funding, which will aid it in its plans to augment its sales and marketing efforts in addition to innovation.
“We have been following the exploding SD-WAN space very closely and recognize its potential to transform enterprise WAN,” said Bobby Yerramilli-Rao, founder and partner at Hermes Growth Partners. “We decided to invest in VeloCloud because of the company’s highly differentiated solution, superb track record with customers, and exceptional management team.”
The series D round included investment from not just Hermes Growth Partners. It also included funds from Telstra Ventures and Khazanah Nasional Berhad joining legacy investors Cisco (News - Alert), March Capital Partners, Venrock and New Enterprise Associates.
“Telstra Ventures is very excited to join this round of VeloCloud funding,” said Mark Sherman, Managing Director of Telstra (News - Alert) Ventures. “Telstra and VeloCloud are completely aligned on the vision of delivering network agility and architectural flexibility to enterprise customers, and we see huge opportunities for both, especially in the Asia-Pacific region.”
Stay tuned to SD-WAN; this space is rich with entrants and offerings, which, coupled with the astronomical forecasts, makes this a must watch industry. The network is changing, and is now built on the back of a new generation of startups set the serve up the future of WAN.How is your company covering its networking bases?
Edited by Alicia Young