- General
- April 17, 2019
- 3 minutes read
CloudGenix Raises $65 Million Series C
Intel Capital president Wendell Brooks. Intel Capital participated in this $65 million Series C round for CloudGenix image: Intel CloudGenix…
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| Intel Capital president Wendell Brooks. Intel Capital participated in this $65 million Series C round for CloudGenix
image: Intel
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CloudGenix — a San Jose, California based cloud infrastructure startup — has raised $65 million in Series C funding from existing investors Intel Capital, Mayfield Fund, Charles River Ventures, Bain Capital Ventures, and new investor ClearSky. The 2013 founded startup has now raised close to $100 million in total funding.
CloudGenix says it grew 300% year-over-year and claims “greater than 90% win-rates against incumbent legacy networking vendors”. It says Fortune 1000 companies, including those in retail, manufacturing, healthcare, finance, banking and hospitality have selected CloudGenix for remote office wide-are network (WAN) needs.
According to research firm IDC, the SD-WAN market — one CloudGenix is focused on — is expected to grow to $4.5 billion by 2022. CloudGenix is led by veterans from the likes of Cisco, Broadcom, IBM, and EMC who also operate in this space. Its CEO Kumar Ramachandran previously held leadership roles in product management and marketing for routing and WAN businesses at Cisco.
“We are leading a revolution in the networking industry. We are executing on our vision of delivering autonomous WANs to our customers – enabling them to specify application policies aligned to their business and have the infrastructure choreograph itself. We couldn’t be more thankful to our customers and look forward to serving them in even larger numbers,” Ramachandran said in a statement.
