SD-WAN startup company, VeloCloud Networks said that it has closed a $35 million Series D round of funding to expand business, capacity and operations as the company accelerates new SD-WAN product development, supports larger customer rollouts, and increases sales and marketing globaly. With this, the company’s total funding to date amounts to $84 million.
The funding round was led by Hermes Growth Partners with participation from Telstra Ventures and the Malaysian government's investment fund Khazanah Nasional Berhad, as well as existing investors Cisco Investments and others.
Since its last round of funding more than a year ago, VeloCloud said it has set several new records for sales, and has seen its number of SD-WAN sites grow to more than 50,000 and total customer wins exceed 600, including the two largest SD-WAN wins in the world.
VeloCloud claims that it has secured deals from AT&T, Sprint, Mitel, TelePacific, and Windstream for the “VeloCloud Cloud-Delivered SD-WAN for Service Providers” solution for both Network Integrated and Over The Top implementations. In addition, VeloCloud continued work with its existing ecosystem of service provider partners, including Vonage, MetTel, EarthLink, and NetOne to deliver the benefits of VeloCloud Powered SD-WAN for their customers.
VeloCloud Cloud-Delivered SD-WAN enables Enterprises to securely support application growth, network agility, and simplified branch and end-point implementations while delivering optimized access to cloud services, private datacenters and enterprise applications.