A10 Networks, which specializes in the Application Delivery Controller (ADC) solutions, raised $115 million in new capital through an equity financing and a committed revolving credit facility.
Summit Partners, a leading global growth equity firm, led the round with an $80 million equity investment. An additional $35 million revolving credit facility was obtained through Bank of America Merrill Lynch, J.P. Morgan and RBC Capital Markets.
“We are proud of the investment and the underlying vote of confidence from several of North America’s largest and most prestigious financial institutions,” said Lee Chen, Founder and CEO for A10 Networks. “With this investment, A10 will continue to extend its technology leadership and expand its market penetration with innovative solutions to help customers accelerate, optimize and secure websites and applications.”
A10 noted that its most fiscal recent quarter produced record revenues.
“A10 has an enormous market opportunity with the rapid growth of cloud applications and online devices,” said Greg Straughn, CFO of A10 Networks. “Our strong execution and rapid growth have enabled A10 Networks to raise a considerable amount of capital from leading financial institutions. With the additional capital, we will continue to invest in R&D, Customer Support, Sales and Marketing, as well as continue to grow our global workforce well beyond our current 600 employees, key elements for extending our history of strong revenue growth.”
A10 Networks is headquartered in Silicon Valley.
- In July 2013, A10 Networks announced its new entry-level A10 Thunder Series, extending its family of Unified Application Service Gateways (UASGs) to small/medium business and enterprise customers. The 1-RU appliance delivers Application Delivery Controller (ADC) and Server Load Balancing (SLB) functionality for optimization and acceleration, full Layer 4-7 support, scalability and availability. Additional advanced modules include Global Server Load Balancing (GSLB) and Application Delivery Partitions (ADPs) for multi-tenancy through virtualization to enable more applications and more services. It also integrates home-grown services including a Web Application Firewall (WAF) for website protection, DNS Application Firewall (DAF) for DNS infrastructure protection, Distributed Denial of Service (DDoS) protection for next-generation attack mitigation, SSL Intercept (SI) to inspect encrypted traffic and Application Access Management (AAM) for pre-authentication. The A10 Thunder 930 – Entry-level UASG supports 200,000 connections per second (CPS), 5 Gbps of application throughput, and up to 16 million concurrent sessions.
- In January 2013, A U.S. court in San Jose, California confirmed a $60 million damages verdict against A10 Networks and entered an order permanently enjoining A10 from infringing on Brocade’s patents involving technologies for Global Server Load Balancing and High Availability. The Court enjoined A10 from “making, using, selling, or offering to sell in the United States, or importing into the United States any AX series application delivery controller that includes features that infringe” on these asserted claims. Last August, a jury found for Brocade on four claims of patent infringement involving technologies for Global Server Load Balancing and High Availability and found that the A10 AX Series line of load balancers infringe on these specific patents.