VeloCloud Networks, a start-up based in Mountain View, California, closed a $35 million Series D round of funding for its SD-WAN solutions.
The funding was led by Hermes Growth Partners and included new investors Telstra Ventures and Khazanah Nasional Berhad, the strategic investment fund of the Government of Malaysia (“Khazanah”), in addition to existing investors New Enterprise Associates (NEA), Venrock, March Capital Partners, Cisco Investments, and other undisclosed strategic investors. This brings total funding to $84 million.
The company said the funding will be used to expand business, capacity and operations as it accelerates new SD-WAN product development, supports larger customer rollouts, and dramatically increases sales and marketing in theaters worldwide.
“We are experiencing significantly more growth than we even predicted as a stretch goal for VeloCloud Cloud-Delivered SD-WAN,” said VeloCloud CEO and Co-founder Sanjay Uppal. “VeloCloud has broken away from the field with the industry’s largest number of customers, sites, and sales along with key strategic Service Provider partnerships. With this new round of funding we are able to stay well ahead of this new level of demand we are experiencing.”