Versa Networks Secures USD 120M in Funding to Boost SASE Product Innovations

Highlights:

  • Versa Networks says that its SASE platform can be set up 20 times faster than other competing technologies.
  • According to Versa, the firewall has features that cannot just detect any breach attempt but also block malicious network connections.

Versa Networks Inc, a recognized leader of single-vendor Secure Access Service Edge (SASE) platforms, announced that it had received USD 120 million in new funding.

Versa announced that BlackRock was the lead investor in the funding round. Silicon Valley Bank also took part. The recent round of funding will bring Versa’s total raised amount to more than USD 316 million. The funding is being termed as an investment that focuses on “setting Versa on its planned IPO path.”

Versa sells SASE, a secure access service edge platform used by Capital One Financial Corp., Samsung Electronics Co. Ltd., and tens of thousands of other businesses. A SASE platform is a product that merges both networking features and security tools. It can set up network connections between a company’s cloud environments, data centers, and other assets worldwide and secure the network traffic between them.

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