SOURCE: CloudGenix

CloudGenix

May 05, 2015 07:30 ET

CloudGenix, Software-Defined WAN Leader, Closes $25 Million Series B Funding Round

Investment Led by Bain Capital Ventures Validates CloudGenix's Revolutionary Approach to Transforming the Multi-Billion Dollar Legacy WAN Market

SANTA CLARA, CA--(Marketwired - May 5, 2015) - CloudGenix, the software-defined wide area network (SD-WAN) leader, secures $25 million in Series B funding led by Bain Capital Ventures and including additional investments from Charles River Ventures and the Mayfield Fund. CloudGenix plans to use the capital to accelerate sales expansion and product growth to meet worldwide customer demand to radically simplify how WANs are designed and managed. This round brings the total funding CloudGenix has raised to $34 million and adds the deep business and industry expertise of Enrique Salem, former Symantec president and CEO and current managing director at Bain Capital Ventures, to the board of directors.

"Bain Capital Ventures is seeing software disrupt legacy, hardware-centric models in IT. As businesses adopt cloud, virtualization and mobile technologies, hardware-based WANs prevent IT from achieving the promised benefits of agility, flexibility, and lower costs. Companies spending tens of billions of dollars in remote office networking infrastructure demand a solution that addresses the emerging hybrid models," says Enrique Salem, managing director at Bain Capital Ventures. "CloudGenix transforms the last bastion of hardware -- the WAN -- to software, and provides a dramatically simplified, application-defined model for networking. CloudGenix's unique approach securely combines private and public network resources, and it delivers vastly improved application and network performance, simplifies hybrid WAN management and significantly lowers WAN costs for businesses."

According to Gartneri: "As more workloads go to the public cloud, hybrid WANs provide the optimal mix of performance and cost. This also enables increased usage of collaboration tools (voice, video and desktop sharing) at the branch. However, Gartner clients report that building and managing hybrid WANs with traditional networking equipment is extremely difficult."

CloudGenix delivers "networks without networking," which enables secure access to hybrid-cloud and virtualized applications via SD-WANs rather than a complex maze of networking hardware. The solution serves world-class financial services, legal, retail and technology organizations with multiple branch offices.

"CloudGenix is the only SD-WAN company creating a new, application-defined fabric that radically simplifies how WANs are designed and managed," says Kumar Ramachandran, co-founder and CEO of CloudGenix. "This new investment will help us fulfill strong market need for WAN solutions that deliver more than twice the performance at less than half the cost, leading to a much faster time-to-value once deployed, and extending datacenter-class security to the network edge."

CloudGenix Series B funding closely follows several achievements, including designation as a Best of Interop Networking Award finalist and a CIO Review listing as a  Top 20 Most Promising Network Solutions Provider. CloudGenix was named a Gartner Cool Vendor in Enterprise Networking 2015ii. In addition, the company recently welcomed to its advisory board Martin Casado, co-creator of the SDN category, as well as SVP and GM, Networking and Security Business Unit at VMware.

About CloudGenix
CloudGenix (www.cloudgenix.com) is the software-defined wide-area network (SD-WAN) leader, revolutionizing networking by transforming legacy WAN's into a radically simplified, secure application-defined fabric, and virtualizing heterogeneous underlying transports into a unified hybrid WAN. Enabling application specific service-level agreements (SLAs), CloudGenix controls application performance on the network based upon application performance SLA's and business priority. CloudGenix ION radically simplifies how WANs are designed and managed, enabling customers to build Networks without Networking and achieve more than 2x the performance at less than half the cost, leading to a much faster time-to-value once deployed and extends datacenter-class security to the network edge. Founded in 2013 by a team that has previously delivered industry-leading products in networking, SDN, cloud, security and web-scale applications, CloudGenix serves world-class financial services, legal, retail and technology organizations. The company is backed by Bain Capital Ventures, Charles River Ventures and the Mayfield Fund and has headquarters in Santa Clara, California.

i Gartner "Cool Vendors in Enterprise Networking, 2015" by Andrew Lerner, Neil Rickard, Mark Fabbi and Vivek Bhalla, April 2, 2015.

ii Gartner "Cool Vendors in Enterprise Networking, 2015" by Andrew Lerner, Neil Rickard, Mark Fabbi and Vivek Bhalla, April 2, 2015.

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Contact Information

  • Contacts
    Rebecca Salie
    CloudGenix Senior Director Marketing
    916.960.9161
    Email Contact

    Ivy Chen
    BOCA Communications
    415.738.7718
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