Versa Networks, the recognized leader of single-vendor Secure Access Service Edge (SASE) platforms, announced it has secured additional financing of $120M.
The pre-IPO round was led by funds and accounts managed by BlackRock. Silicon Valley Bank (SVB) also participated in the funding. This new round of funding will enable Versa to expand go-to-market strategies and accelerate on its industry-leading SASE innovations to further cement its leadership position in the SASE market, while setting Versa on its planned IPO path.
According to Gartner, the SASE market is expected to grow to $15 billion in 2025, and 80 percent of enterprises will have a strategy to unify web, cloud services and private application access using a SASE architecture. Dell’Oro Group lists Versa as a SASE market share leader, while Gartner has identified Versa SASE as having the most SASE components out of all 56 vendors Gartner evaluated.
Versa’s single-vendor SASE platform delivers best-of-breed functions that tightly integrate and deliver services via the cloud, on-premises, or as a blended combination of both via VOS™ with a Single-Pass Parallel Processing architecture and managed through a single pane of glass. Versa delivers SASE services such as Secure SD-WAN, Next-Generation Firewall, Next-Generation Firewall as a Service, Unified Threat Management (UTM) including Advanced Threat Protection (ATP), Secure Web Gateway (SWG), Zero Trust Network Access (ZTNA), Cloud Access Security Broker (CASB), Data Loss Prevention (DLP), Remote Browser Isolation (RBI), and User and Entity Behavior Analytics (UEBA). Versa’s single-vendor SASE platform goes above and beyond management console automation integration by providing the ability to integrate networks, points of presence, policy definitions, application definitions, agent logic, and data lakes.
Kelly Ahuja, CEO of Versa Networks
As the leader in SASE, the fastest growing security and networking category, and executing on SASE services for years, Versa is the only solution proven to deliver the industry’s leading and differentiated architecture for high performance and security. This funding will allow us to expand our go-to-market and accelerate new innovations that will further expand the market opportunity for us as a company.
Matt Singer, Managing Director, BlackRock
We are excited to support the Versa team and its vision to drive innovation across cloud, data and network security. SASE represents an important and fast-growing market that is at the core of organizations’ digital transformation and Versa, with its unified, single-code based architecture, is well positioned to deliver mission critical value to its customers.
