Versa Networks, a single-vendor Secure Access Service Edge (SASE) platform, has announced that it has secured an additional $120M in financing. BlackRock Inc, an asset management firm, led the pre-IPO round investment. With this new influx of money, Versa says it can better market itself and continue its advancements in the SASE industry. Versa Networks has raised $316.3 million across seven funding rounds.
“This funding will allow us to expand our go-to-market and accelerate new innovations that will further expand the market opportunity for us as a company,” stated Kelly Ahuja, CEO of Versa Networks.
Versa’s SASE platform delivers a wide range of security and networking services, including secure SD-WAN, next-generation firewall, cloud access security broker (CASB), unified threat management (UTM) and more. Versa’s SASE platform integrates networks, points of presence, application definitions, agent logic and data lakes. Versa’s SASE platform services are integrated and delivered through the cloud, on-premises, or in combination. With VOS and single-pass parallel processing architecture, Versa says it offers a smooth customer experience managed through one easy-to-use interface.
Commenting on the investment round, Kumar Mehta, co-founder and chief development officer of Versa Networks, stated:
“Enterprises are waking up to the power of more efficient and integrated security and networking infrastructure for the expanding attack surface,” said Kumar Mehta, co-founder and chief development officer at Versa Net. “We look forward to working with BlackRock and all our investors as Versa enters this important pre-IPO phase of the business.”
SASE is expected to grow significantly in the next few years, becoming a market worth $15 billion by 2025. Gartner predicts that 80 percent of enterprises will have adopted this technology to unify their web services, private applications, and cloud access.
“We are excited to support the Versa team and its vision to drive innovation across cloud, data and network security,” added Matt Singer, managing director of BlackRock. “SASE represents an important and fast-growing market that is at the core of organizations’ digital transformation and Versa, with its unified, single-code based architecture, is well positioned to deliver mission-critical value to its customers.”
edge security | network | SASE | SD-WAN | venture capital | Versa Networks