Big Switch Networks Secures $48.5M Financing to Accelerate Growth
SANTA CLARA, Calif., Jan. 19 -- Big Switch Networks, the leader in bringing hyperscale-inspired networking to data centers worldwide, today announced it has closed its Series C round and raised $48.5M in total growth financing. The financing includes participation from both new and existing investors, including Morgenthaler Ventures, Silver Lake Waterman, Index Ventures, Khosla Ventures, Redpoint Ventures, Accton, CID Group, MSD Capital, among others. Since its founding in 2010, Big Switch has secured $94M in total funding.
Additionally, Big Switch has named former NetApp CEO, Dan Warmenhoven, as well as seasoned venture capitalist Gary Morgenthaler to its Board of Directors.
The financing comes as the company continues to drive adoption, including more than 300% growth in 2015 with customer wins across the US, APAC and EMEA regions, in verticals including tech, financial services, government, service providers, and higher education. The company has two products and three use cases, which have played a critical part in its growth, including accelerated adoption with Enterprise and Carrier customers of both Big Monitoring Fabric, a next generation network monitoring fabric, as well as Big Cloud Fabric, the industry's first data center fabric built using whitebox or britebox switches and SDN controller technology.
"I am pleased that our performance continues to earn the trust of our customers, partners, and investors, all of whom believe in our mission to disrupt the status quo of networking," said Douglas Murray, CEO, Big Switch Networks. "Dan Warmenhoven's knowledge and operational experience scaling NetApp from hyper-growth startup through maturity will be invaluable as Big Switch continues to scale and as we introduce our core products to new customers in more markets around the world. I am also thrilled to have Gary Morgenthaler join the board to share his invaluable experience as one of Silicon Valley's pre-eminent investors."
According to IHS Research, enterprise SDN adoption is expected to grow from 6% to 23% in 2016. Big Switch will use its latest funding round to continue to scale the company and expand geographically, as well as expand its reach within markets already deploying next generation Data Center networking, which IHS Research estimates will reach $13 billion in 2019, up from $781 million in 2014.
About Big Switch Networks
Big Switch Networks is the market leader in bringing hyperscale-inspired networking technologies to a mainstream data center audience. The company is taking three key hyperscale technologies -- OEM/ODM bare metal and open Ethernet switch hardware, sophisticated SDN control software, and core-and-pod data center designs -- and leveraging them in fit-for-purpose products designed for use in enterprises, cloud providers, and service providers. The company's Big Monitoring Fabric is a feature-rich next-generation Network Packet Broker to monitor and protect existing networks, and Big Cloud Fabric is the industry's most advanced open networking switching fabric intended for new data center pods such as OpenStack private cloud, VMware NSX, big data, and VDI. For additional information, email [email protected], follow @bigswitch, or visit www.bigswitch.com.
---
Source: Big Switch Networks
