VeloCloud Reports Record Year with Rapidly Growing Sale
News as reported by the company. Updated January 10, 2017.
MOUNTAIN VIEW, Calif., Jan. 10, 2017 -- VeloCloud™ Networks, Inc., the Cloud-Delivered SD-WAN™ company, today announced a record year for 2016 which saw sales climb 8X over the previous record year, sites deployed swell to 50,000, and total customer wins reach 600. The company also expanded to 130 registered channel partners around the world in 2016, increased its workforce by more than 50 percent, and secured the world’s two largest SD-WAN wins.
“The success that VeloCloud has experienced with large enterprises and services providers demonstrates that our unique cloud-delivered architectural approach to SD-WAN is leading the market in innovation, cloud, scale, and multi-tenancy,” said VeloCloud CEO and Co-founder Sanjay Uppal. “VeloCloud customers worldwide continue to choose VeloCloud for secure, reliable and high performance network-wide connectivity to cloud, on-premises and site-to-site applications globally over both private and public transport.”
Posting another record year for sales, the world’s largest SD-WAN customers, and tens of thousands of deployments validates the differentiated cloud-delivered approach and the resulting benefits of simplicity, performance and affordability VeloCloud brings. The company continues to expand its service provider relationships and important partnerships to meet the exploding growth in global demand for VeloCloud Cloud-Delivered SD-WAN.
In 2016, VeloCloud continued to extend its market leadership in serving today’s leading service providers, securing deals for the “VeloCloud Cloud-Delivered SD-WAN for Service Providers” solution from AT&T, Sprint, Mitel, TelePacific and NewCloud Networks. In addition, VeloCloud continued work with its existing ecosystem of service provider partners, including Vonage, MetTel, EarthLink, and NetOne, to deliver the benefits of VeloCloud Powered SD-WAN for their customers. In 2016, VeloCloud has been validated as the most broadly selected SD-WAN solution by Tier 1 and Tier 2 service providers.
During the year, VeloCloud continued to enhance its product features for enterprises and service providers, including delivering the industry’s first SD-WAN solution to offer a fully featured network integrated Voice Quality Monitoring (VQM) capability.
In 2016 industry analysts recognized VeloCloud’s innovation and unique benefits delivered with VeloCloud Cloud-Delivered SD-WAN. VeloCloud was named a “Cool Vendor” in the “Cool Vendors in Enterprise Networking, 2016” 1 report by Gartner, Inc., selected for being innovative, impactful and intriguing. In addition, Frost & Sullivan recognized VeloCloud with the 2016 North American Best Practices Award for Product Leadership, noting VeloCloud’s key value propositions of extensive multi-tenant cloud footprint, and its dynamic multipath technology which optimizes real-time traffic over best effort networks.
Supporting this year’s expansion, VeloCloud in early 2016 announced $27 million in Series C financing, led by new investor March Capital Partners and two new strategic investors, including Cisco Investments. Existing investors NEA and Venrock also participated in the round. The funding is being used to expand business operations as the company accelerates new product development and customer rollouts to meet growing global demand, including investments in sales and marketing. This additional investment enabled VeloCloud to rapidly expand marketing and sales in Europe, Middle East, Africa and Asia Pacific, securing several new enterprise and service provider customers.
VeloCloud’s industry traction, vision and market leadership were recognized in 2016 with multiple industry awards and recognitions as well. VeloCloud Cloud-Delivered SD-WAN was selected as the winner of “Best of VMworld 2016” in the “Networking and Virtualization” awards category at the VMworld 2016 US conference. VeloCloud was also named the 2016 SDN Technology of the Year by MEF, which highlighted VeloCloud’s service, application, technology, and professional excellence and innovation in the global Third Network community. Other notable awards won in 2016 include IOPN Best “Service or Solution” Award 2016 at Mobile World Congress, the Cloud Computing Product of the Year Award, the 2016 Unified Communications Product of the Year Award, and the 2016 IoT Evolution Product of the Year Award.
VeloCloud Networks™, Inc. is the Cloud-Delivered SD-WAN™ company, a Gartner Cool Vendor 2016, the Frost & Sullivan Product Leader in the SD-WAN Solution Market 2016, and a Best of Interop and Best of VMworld winner. The company simplifies branch WAN networking by automating deployment and improving performance over private, broadband Internet and LTE links for today’s increasingly distributed enterprises. VeloCloud SD-WAN includes: a choice of public, private or hybrid cloud network for enterprise-grade connection to cloud and enterprise applications; branch office enterprise appliances and optional data center appliances; software-defined control and automation; and virtual services delivery. VeloCloud has received financing from investors including NEA, Venrock, March Capital Partners, Cisco Investments and The Fabric, and is headquartered in Mountain View, Calif. For more information, visit the company's website and follow the company on Twitter @VeloCloud.
Note 1 -- “Cool Vendors in Enterprise Networking, 2016” by Andrew Lerner, et al. April 13, 2016.