Versa Networks, a US-based networking and security software producer backed by telecommunications firm Verizon and mass media groups Liberty Global and Comcast, received $84m in series D funding on Wednesday.
The round was co-led by investment firm Princeville Capital and venture capital firm RPS Ventures with additional commitments from existing investors such as fellow VC firm Sequoia Capital. The company said it increased its overall funding to $196m.
Versa provides software tools for the secure access service edge (SASE) market, a technology category that combines wide-area networking and security functions into a single solution. Its platform can provide SASE services via the cloud, on premises or through a combination of both.
The company plans to use the proceeds to fund expansion and run global educational marketing and sales campaigns. It will also invest in SASE research and development activities.
Kelly Ahuja, chief executive of Versa, said: “This is a technology that is on course to really take off in the coming year and beyond and this investment means that we are best placed to be at the helm of that rocket ship as SASE becomes the star in businesses’ security and networking arsenal.”
The company emerged from stealth in 2015 with $43m of funding from investors including Verizon’s corporate venturing unit, Verizon Ventures, as well as Sequoia Capital and Mayfield.
Versa this week identified Comcast Ventures and Liberty Global Ventures, respective investment subsidiaries of Comcast and Liberty Global, as existing investors, in addition to Artis Ventures and Triangle Peak Partners.