Software Defined(SD)-WAN company, VeloCloud Networks announced the closing of $27 million in Series C financing led by venture fund March Capital Partners and two additional strategic investors, including Cisco Investments. The funding will be used to expand business operations as the company accelerates new product development and customer rollouts.
The latest funding round brings the company's total funding to $49 million, prepring for the fast growth of branch office deployments and rapid migration to cloud applications.
VeloCloud said that the rapid adoption of its SD-WAN solution last year was driven in part, by a significantly expanded partner ecosystem which now includes BroadSoft, Cisco, Equinix, HP, IIx Console, Intel, VMware, Websense and Zscaler.
VeloCloud CEO and Co-founder Sanjay Uppal
This new financing validates our unique cloud-delivered direction and success, and will accelerate growth in our core business of providing simplified branch WAN networking, improved performance and service delivery to mid to large enterprises and service providers.
Jeff Reed, vice president and general manager, Enterprise Infrastructure and Solutions Group at Cisco
Cisco is committed to open networking, and interoperability with the VeloCloud solution will provide our joint customers with additional enhancements for application and cloud services performance.
