Secure networking firm Versa Networks has secured £105 million in a pre-IPO round of investment for its Secure Access Service Edge (SASE) platform.
The company, which has raised £276 million across seven funding rounds since 2012, plans to use the funds to better market itself and further advance the SASE industry.
Kelly Ahuja, CEO at Versa Networks, said: “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.”
Versa’s SASE platform provides a range of security and networking services, from unified threat management and next-gen firewalls to secure SD-WAN and other features. The platform integrates networks points of presence, application definitions, agent logic and data lakes.
Delivered through either the cloud, on-prem, or a combination of each, the SASE platform uses VOS and single-pass processing architecture to bolster its interface and customer experience.
Kumar Mehta, co-founder and chief development officer of Versa Networks, said of the investment: “Enterprises are waking up to the power of more efficient and integrated security and networking infrastructure for the expanding attack surface.
“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, with an anticipated market value of £13 billion by 2025. Gartner predicts that 80 percent of enterprises will adopt the technology by then o 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,” said Matt Singer, managing director of BlackRock.
“SASE represents an important and fast-growing market that is at the core of organisations’ digital transformation and Versa, with its unified, single-code based architecture, is well positioned to deliver mission-critical value to its customers,” he added.
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