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United States : VELOCLOUD NETWORKS raises $21 million to launch its platform

June 18, 2014

Developer of a cloud-based wide-area network, VeloCloud Networks Inc., based in Los Altos has announced raising $21 million to launch its platform.

Led by CEO Sanjay Uppal, the company was established in November 2012, and its main objective is to deliver wide-area networking services through the cloud to a company s branch offices and mobile devices while providing users additional control over the Internet and private networks.

The first funding round was led by venture capital firm New Enterprise Associates which received participation from Venrock and Palo Alto incubator The Fabric.

Uppal said, We are delighted to have the support of top-tier venture partners and are poised to build our channels, scale business development activities and create a strong ecosystem.

With the help of the capital infusion, VeloCloud will be able to launch its services and compete in the combined enterprise WAN equipment and private WAN services market which is estimated at $32 billion.

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Source: TendersInfo (India)

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