CloudGenix, a software-defined wide-area network (SD-WAN) provider, has raised $65 million in new funding to power global sales.
Existing investors including Bain Capital Ventures, Charles River Ventures, Mayfield Fund, and Intel and new investors including ClearSky participated in the latest investments.
CloudGenix’s total funding through Series C reached nearly $100 million.
“We invest in companies with proven products and proven go to market to fuel their rapid growth. As large enterprises adopt a multi-cloud strategy, the need for a modern SD-WAN is a CIO priority,” said Enrique Salem of Bain Capital Ventures.
CloudGenix grew 300 percent year over year, fueled by 90 percent+ win-rates against incumbent legacy networking vendors.
Fortune 1000 companies, including those in healthcare, retail, manufacturing, finance, banking, hi-tech, hospitality have selected CloudGenix for their remote office WAN needs across six continents, hundreds of countries and tens of thousands of locations.
CloudGenix SD-WAN delivers 50-70 percent cost savings and is a critical component of the cloud-enabled enterprise.
SD-WAN market is expected to grow to $4.5 billion at 40 percent CAGR by 2022 according to IDC.
“We characterize network and application behavior in real-time and use data science techniques to auto-correct application behavior. Data is the new soil and is giving life to modern, autonomous infrastructure,” said Mukhtiar Shaikh, CTO of CloudGenix.
CloudGenix’s 90 percent+ win-rate in the enterprise is driven by the application-defined approach to networking and by an architecture that meets the stringent security and compliance requirements of the large enterprise.
“We are executing on our vision of delivering autonomous WANs to our customers – enabling them to specify application policies aligned to their business and have the infrastructure choreograph itself,” said CloudGenix founder/CEO Kumar Ramachandran.