Santa Clara, California-based intent-based application services providers Avi Networks, has raised $60M in Series D financing. The investors who participated in this round include Cisco Investments, DAG Ventures, Greylock Partners, Lightspeed Venture Partners, and Menlo Ventures.
With the latest fundraising, Avi Networks has raised over $115 million in total equity funding to date.
“Modern applications are driving a new urgency with which enterprises are automating their networks and application delivery systems,” said Amit Pandey, CEO of Avi Networks. “Cisco software and infrastructure are a cornerstone in this transformation. I am thrilled about this strategic investment from Cisco and our continued joint efforts to deliver the elasticity, intelligence, and multi-cloud capabilities that enterprises need.”
The investment deepens the partnership between Avi and Cisco. Cisco resells the Avi Vantage Platform in markets around the world, and Avi closely integrates with Cisco ACI, Cisco’s intent-based networking and automation solution for the data center.
Rob Salvagno, vice president, Corporate Development at Cisco said, “We believe Avi Networks has built a disruptive platform for L4 – L7 application services with a software-centric approach, enabling customers to scale network automation and application delivery across both private and public clouds.”
Founded in 2012 by Amit Pandey and Murali Basavaiah, Avi Networks provides an intent-based platform (Avi Vantage Platform) that delivers automated application services with a Software Load Balancer, an Intelligent Web Application Firewall, and an Elastic Service Mesh for container-based applications as businesses shift operations to clouds such as Azure and AWS.
The company has achieved more than 300% year-over-year growth with significant adoption by the Global 2000, including 20% of the Fortune 50 companies. Last year Avi tripled its bookings and customers list with new signings including Adobe and several of the world’s largest banks.
With the latest funding round from Cisco and the others, how Avi Networks is going to further scale will be interesting to watch.