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Wednesday, May 6, 2015

Wide-Area Networking Startup CloudGenix, Raises $25 Million Series B Funding Round

CloudGenix, a software-defined wide-area network provider, today announced a $25 million funding round. This series B funding was led by Bain Capital Ventures and with participation from Charles River Ventures and Mayfield Fund

CloudGenix plans to use the new fund to accelerate sales expansion and product development to meet market demand. This funding round brings the total funding CloudGenix has secured to $34 million and brings the deep expertise of Enrique Salem, former Symantec president and CEO and current managing director of Bain Capital Ventures, to the board of directors.

Enrique Salem, managing director, Bain Capital Ventures, said in a statement that: "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," and also added: "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." 

Founded in 2013 and based in Santa Clara, California, CloudGenix is a software-defined wide-area network (SD-WAN) provider, revolutionizing networking by transforming legacy networking into a radically simplified and unified hybrid WAN. It serves world-class financial services,legal, retail and technology companies. Investors include Bain Capital Ventures, Charles River Venture and Mayfiled Fund.

Named as a 2015 Gartner “Cool Vendor” in Enterprise Networking, CloudGenix is the only SD-WAN company creating a new, simpliffied, application-defined fabric that radically simplifies how WANs are designed and managed. 

Image Credit: VentureBeat

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