Versa Networks raises $120 Mn in Pre-IPO Funding
By MYBRANDBOOK
SD-WAN-turned-SASE specialist Versa Networks has raised $120 million ahead of its IPO, bringing the company’s total raised to $316 million. The pre-IPO round was led by funds and accounts managed by BlackRock, along with participation from Silicon Valley Bank.
The latest funding will further the company’s go-to-market strategies and accelerate its Secure Access Service Edge (SASE) product development road map to cement its leadership position in the SASE market.
Kelly Ahuja, CEO of Versa Networks, said, “The key focus, as you can imagine, is cybersecurity and especially over the last few years the move to cloud[has] accelerated. What’s front and center for [businesses] is the complexity and the bespoke architecture that they have for this new age of workloads and applications in any cloud and a hybrid workforce. So, they’re looking to move aggressively into SASE, which includes both network and security converged into a single platform.”
He further said, “The funding will also help Versa Networks expand its partner coverage through its partner ecosystem, which involves resellers, MSPs, agents and systems integrators. We’re getting a lot of inbounds from new partners because they’re seeing the progress and traction we’re making. They’re actually approaching us to see what more they can do with us.”
Versa is a single-vendor SASE platform that helps integrate and deliver services via the cloud, on-premises or as a combination of both. Its services include secure SD-WAN, next-generation firewall, unified threat management, advanced threat protection, secure web gateway, zero trust network access, cloud access security broker, data loss prevention, remote browser isolation and user and entity behaviour analytics.
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