Viptela Secures $75M Round
May 26, 2016
has raised $75M in a Series C round of financing to meet global demand
for its Software-Defined Wide Area Network (SD-WAN) platform. The round
brings the company’s total funding to nearly $110M, and was led by
Redline Capital with participation from new investor Northgate Capital
and existing investor Sequoia Capital.
According to industry research firm IDC, the increasing use of cloud
applications by businesses and the trend of employees accessing them via
mobile devices is fueling innovation in wide area networking
technologies. Its analysts estimate that worldwide SD-WAN revenues will
exceed $6 billion in 2020 with a compound annual growth rate (CAGR) of
more than 90% over the 2015-2020 forecast period.
“Our ability to raise this level of financing, while many technology
vendors are struggling to raise capital or experiencing ‘down rounds’ is
a testament to our team, technology and execution,” said Amir Khan, CEO
of Viptela. “These funds will enable us to add the resources to expand
into new geographies, extend our lead in this hyper-growth sector and
capture a lion’s share of the market.”
As part of the financing, Tatiana Evtushenkova, Director of Redline
Capital has joined the Viptela Board of Directors. The company will use
the proceeds to scale sales, marketing, technical support and research &
development to meet aggressive customer demand for its products and
execute its global go-to-market strategy.
“Viptela already has a solid list of blue-chip, Fortune 500 customers
and partnerships with Verizon and Singtel who are using their platform
to deliver managed SD-WAN services to businesses,” said Tatiana
Evtushenkova. “The company is extremely well-positioned to become a
dominant player in a $6B market. We’re pleased to be working with
management to help them capitalize on this massive opportunity.”
and mid-sized organizations typically have tens, hundreds and even
thousands of sites, including offices, branches, ATMs, retail locations,
etc., around the country and the world which they need to connect over
their WAN. The Viptela platform allows enterprises to reduce WAN costs
by 50% by augmenting expensive leased lines with cheaper public
broadband connections, adding more bandwidth on-demand and optimizing
network performance so cloud applications respond as if they were
located in the company’s own data center.
The Viptela SD-WAN platform has already been implemented by more than 25
Fortune 500 enterprises including some of the world’s largest retailers,
financial institutions, conglomerates, healthcare organizations and
other businesses that have many geographically distributed locations.
The company has licensing partnerships with Tier-1 carriers Verizon and
Singtel; and has been recognized as a Gartner Cool Vendor and a Next
Billion Dollar Startup by Forbes.