Leading provider of software-defined wide area network (SD-WAN), CloudGenix has secured a $25 million in Series B funding led by Bain Capital Ventures. Enrique Salem, a former Symantec president and CEO and current managing director at Bain Capital Ventures is appointed to the board of directors of CloudGenix. The company 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.
CloudGenix says that it delivers "networks without networking," enabling secure access to hybrid-cloud and virtualized applications via SD-WANs. The company'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. As more workloads go to the public cloud, hybrid WANs provide the optimal mix of performance and cost, notes CloudGenix.
Enrique Salem, Managing Director, Bain Capital Ventures
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. CloudGenix transforms the last bastion of hardware -- the WAN -- to software, and provides a dramatically simplified, application-defined model for networking.
Kumar Ramachandran, Co-Founder and CEO, CloudGenix
CloudGenix is the only SD-WAN company creating a new, application-defined fabric that radically simplifies how WANs are designed and managed. 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.
