Versa Networks raises $120 mn in pre-IPO round led by BlackRock

Versa Networks, a leader in Secure Access Service Edge (SASE) platforms, has secured additional funding of $120 million.
VC funding for techBlackRock led the pre-IPO round. Silicon Valley Bank (SVB) also participated in the funding.

Versa will utilize this funding to expand go-to-market strategies and accelerate on its industry-leading SASE innovations to further cement its leadership position in the SASE market, while setting Versa on its planned IPO path.

The SASE market is expected to grow to $15 billion in 2025, and 80 percent of enterprises will have a strategy to unify web, cloud services and private application access using a SASE architecture, according to Gartner.

Dell’Oro Group lists Versa as a SASE market share leader. Gartner has identified Versa SASE as having the most SASE components out of all 56 vendors Gartner evaluated.