VeloCloud Networks Inc. served up a double dip of news today. That included announcements that it has raised $35 million in a Series D round and, separately, that it has forged a partnership with NetFoundry.
New Investors Back VeloCloud
The new money, which brings the company’s total funding to $84 million, was led by private equity firm Hermes Growth Partners. This round also included new investors Telstra (News – Alert) Ventures and Khazanah Nasional Berhad, the strategic investment fund of the Government of Malaysia. Existing investors New Enterprise Associates, Venrock, March Capital Partners, Cisco (News – Alert) Investments, and others also participated.
The SD-WAN Solution
VeloCloud plans to use the investments to do more marketing and sales, and to expand its business so it can better serve customers with larger rollouts. Already VeloCloud serves more than 600 customers and more than 50,000 sites with its SD-WAN solution.
AT&T, Sprint, Mitel, TelePacific, and Windstream (News – Alert) are among VeloCloud customers. VeloCloud is also partners with EarthLink, MetTel, NetOne, and Vonage.
“We have been following the exploding SD-WAN space very closely and recognize its potential to transform enterprise WAN,” said Bobby Yerramilli-Rao, founder and partner at Hermes Growth Partners. “We decided to invest in VeloCloud because of the company’s highly differentiated solution, superb track record with customers, and exceptional management team.”
As noted above, VeloCloud has also become partners with NetFoundry through which they will deliver interoperable solutions. Those solutions will leverage the SD-WAN technology from VeloCloud and the secure packet routing software of NetFoundry to improve cloud service performance for VeloCloud customers.
Thailand-based systems integrator Proen Internet and its customers are among the first to benefit from this NetFoundry integration. “We are pleased to bring this combined solution to our customers,” said Proen Internet CEO Kittipan Sri-bua-iam. “Security, performance and value are of enormous importance to the businesses we serve, and our pilots have shown the improved performance to Office 365, which is critical for our customers.”
Originally published: https://www.hybridwanzone.com/articles/430069-velocloud-raises-35m-partners-with-netfoundry.htm