News
Avi Networks Announces $60 Million in Series D Financing; Adds Cisco Investments as New Investor
June 2018 by Marc Jacob
Avi Networks announced an investment from Cisco Investments along with DAG Ventures, Greylock Partners, Lightspeed Venture Partners, and Menlo Ventures for its oversubscribed $60 million round. This brings Avi’s total funding to $115 million. Avi has achieved more than 300% year-over-year growth with significant adoption by the Global 2000, including 20% of the Fortune 50.
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.
Avi Networks is redefining the application delivery controller (ADC) market with its intent-based platform. The Avi Vantage Platform 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 their operations to clouds such as Azure and AWS, Avi’s intent-based software offers easier management, faster performance, greater elasticity, deeper analytics, and more powerful automation than legacy ADC vendors.
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“The rise of cloud-native application environments and the growing enterprise embrace of multi-cloud have combined to create demand for application services, which are network and security services that address application availability, performance, security, and identity and access management. Application services can be viewed as the disaggregation of capabilities that were formerly integrated into hardware devices such as ADCs, but are now becoming software-defined, loosely coupled, and composable,” said Brad Casemore, Research Vice President, Datacenter Networks at IDC. “With its automated, intent-based application services, Avi offers its customers cloud-like agility, flexibility, and elasticity that physical ADCs were not designed to provide.”
Global 2000 enterprises are increasingly using Avi to complete the last mile in their digital transformation, replacing legacy load balancers, adopting public clouds, automating private clouds, and deploying microservices. Last year Avi grew its bookings 300 percent, tripling its customer list with new signings including Adobe and several of the world’s largest banks.
