Software-Defined WAN (SD-WAN) startup, Viptela has raised $75M in a Series C round of financing to meet global demand for its SD-WAN platform. The round brings the company’s total funding to nearly $110M.
The company said that it 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.
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.
Viptela claims that its 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.
Amir Khan, CEO of Viptela
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.
Tatiana Evtushenkova
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. The company is extremely well-positioned to become a dominant player in a $6B market.
