Forward Networks announced that it has secured $50M in Series D funding from top-tier venture capital firms.
The company provides unique digital twin network modeling software that delivers security, reliability, and agility to large enterprise networks.
Since its last round of funding in 2019, Forward Networks has quadrupled its customer base, opened new headquarters in Santa Clara, California and extended its development team with an office in Bangalore, India. The company achieved 139% ARR growth from FY2021 to FY2022 while experiencing exceptional customer loyalty demonstrated by a 96% retention rate.
By creating a mathematically accurate digital twin of the network, Forward Enterprise delivers actionable insights that enable network operators to make data-driven decisions, prevent errors and improve overall network security, compliance, and health. The platform supports all major networking vendors, hybrid-cloud, and multi-cloud environments, including AWS, Google Cloud Platform, and Microsoft Azure.
David Erickson, CEO and co-founder of Forward Networks
We're creating a new technology category with a product that our customers deem indispensable as soon as it's implemented. We're excited to put this capital to work to grow sales and deliver a product that unlocks the power of the data inside everyone's digital infrastructure.
Victor Hwang, managing director and co-head of MSD Growth
As enterprise network architectures grow and become more complex, the necessity for network security and visibility have dramatically increased. Forward's robust and scalable platform addresses this large and growing market need unlike anything else we've seen. As a flexible, long-term partner, MSD Growth seeks to back exceptional growth businesses with proven unit economics and strong commercial acceptance of their products. We're thrilled to lead the company's round of funding and support its next stage of growth.
