VeloCloud Networks, a start-up based in Mountain View, California, closed $27 million in Series C financing for its cloud SD-WAN solution.
VeloCloud enable enterprises to rapidly, seamlessly and economically expand their wide area networks to support application growth, network agility and simplified branch implementations, while delivering optimized access to cloud datacenters and applications. The company reports rapid adoption of its SD-WAN solution in 2015, fueled, in part, by a significantly expanded partner ecosystem which now includes BroadSoft, Cisco, Equinix, HP, IIx Console, Intel, VMware, Websense and Zscaler.
The new funding was led by March Capital Partners and two additional strategic investors, including Cisco Investments. Existing investors, including New Enterprise Associates (NEA) and Venrock, also participated in the round. The funding will be used to expand business operations as the company accelerates new product development and customer rollouts, and ramps up sales and marketing in expanded theaters to meet growing global demand. Today’s funding brings the company’s total funding to $49 million.
“We are seeing exploding growth in global demand for VeloCloud’s Cloud-Delivered SD-WAN solutions,” said VeloCloud CEO and Co-founder Sanjay Uppal. “This new financing validates our unique cloud-delivered direction and success, and will accelerate growth in our core business of providing simplified branch WAN networking, improved performance and service delivery to mid to large enterprises and service providers.”
