US-based networking technology developer VeloCloud Networks has completed a $27m series C round co-led by Cisco Investments, the corporate venturing arm of networking equipment producer Cisco.
Cisco Investments co-led the round with venture capital fund March Capital Partners and another, undisclosed strategic investor, while existing investors including New Enterprise Associates (NEA) and Venrock also took part.
VeloCloud produces software-defined wide area networking (SD-WAN) technology that enables businesses to improve the performance of private, internet and wireless communication links.
VeloCloud will spend the series C capital on accelerating product development and customer rollouts, and in strengthening sales and marketing to support company expansion.
Jeff Reed, vice president and general manager of Cisco’s enterprise infrastructure and solutions group, said: “As a leading provider of WAN solutions for enterprises worldwide, we are collaborating closely with customers looking to transition to software-driven WAN deployments with our Cisco Intelligent WAN solution.
“Cisco is committed to open networking, and interoperability with the VeloCloud solution will provide our joint customers with additional enhancements for application and cloud services performance.”
VeloCloud has now raised $49m since it was founded, having previously received $22m from Venrock, NEA and incubator The Fabric, which provided it with seed funding in 2012.