Silver Peak Systems Acquisition, Valuation, Funding & Investors

Silver Peak Systems was acquired by Hewlett Packard Enterprise for $925M in July 2020.

Silver Peak Systems acquisition price

$925M

Acquired by Hewlett Packard Enterprise · Jul 2020

Cumulative funding Silver Peak Systems raised

$93M

across 2 funding rounds

Key investors in Silver Peak Systems

  • TCV

Silver Peak Systems Overview

About Silver Peak Systems

Silver Peak Systems is a Santa Clara-based SD-WAN provider acquired by Hewlett Packard Enterprise's Aruba division in September 2020. The company develops Unity EdgeConnect appliances and cloud services for secure WAN optimization and application performance acceleration. Deployed in over 100 countries, its technology enhances connectivity for enterprises using MPLS, broadband, and LTE networks.


Founded

2004

HQ

United StatesSan Jose, CA

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Valuation

$925M (acquired Jul 2020)

Silver Peak Systems Acquisition

Silver Peak Systems was acquired by Hewlett Packard Enterprise for $925M on 13 July 2020.

Before the acquisition Silver Peak Systems had raised $93M across 2 funding rounds.

Silver Peak Systems acquisition details
AcquirerDateTypePrice
13 Jul 2020Strategic M&A$925M

Silver Peak Systems Funding History

Silver Peak Systems has raised a total of $93M across 2 funding rounds.

Silver Peak Systems' first fundraising round was a $3M seed round in January 2013. The most recent completed round was a $90M undisclosed-stage round in June 2018.

Silver Peak Systems funding rounds

Silver Peak Systems funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2018Undisclosed stageTCV (lead)$90MSilver Peak Systems, a Santa Clara-based provider of software-defined wide area networking (SD-WAN) and hybrid WAN solutions, secured a $90 million strategic investment from TCV on June 26, 2018, to accelerate global go-to-market expansion, hire sales teams, and invest in channel partnerships. Prior to this round, the company founded in 2004 had raised approximately $80 million, bringing total funding over $170 million. TCV General Partner Tim McAdam joined the board, citing Silver Peak's complete SD-WAN solution, market differentiation, and traction in the multi-billion-dollar market disrupting the $100 billion enterprise WAN spend category. The investment positions Silver Peak to compete aggressively with players like Cisco and VMware by focusing exclusively on SD-WAN innovation. CEO David Hughes emphasized the opportunity in cloud-first WAN edge solutions and TCV's track record with high-growth tech firms like Netflix and Spotify. Recent enhancements included adding security partners Forcepoint, McAfee, and Symantec to its alliance, alongside Check Point, Fortinet, OPAQ, Palo Alto Networks, and Zscaler. IHS Markit reported Silver Peak's Q1 2018 revenues at $20.2 million, up 15% quarter-over-quarter, with the company noting the estimate as directionally correct despite not publicly disclosing figures. Partners like Alexander Open Systems highlighted Silver Peak's early market entry and strong performance in SD-WAN for bank customers. Later, around 2020, Silver Peak explored a potential $1B sale, but no valuation was tied directly to the 2018 round.
Jan 2013Seed-$3M-

Who has invested in Silver Peak Systems?

1 investor has backed Silver Peak Systems across its funding rounds, including TCV.

Lead investors include TCV.


Silver Peak Systems Investors

Investors in Silver Peak Systems by funding rounds participated
InvestorHQRoundsRoleFirst check

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Silver Peak Systems Competitors

Silver Peak Systems competitors include listed companies like Sify Technologies, Asiainfo Security and N-able, and private ones like Corelight, Solo.io and Nile.

Public and private companies comparable to Silver Peak Systems
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CorelightUnited StatesSan Francisco, CAPrivate--$900M-
Sify TechnologiesIndiaIndiaPublicly listed$468M$107M$1000M2.0x
Solo.ioUnited StatesUnited StatesPrivate--$1B-
Asiainfo SecurityChinaChinaPublicly listed$1.2B($11M)$781M1.1x
NileUnited StatesSan Jose, CAPrivate$8M-$775M96.9x
N-ableUnited StatesUnited StatesPublicly listed$509M$80M$759M2.0x

Silver Peak Systems Public Comps

Silver Peak Systems is no longer listed, but its public comps include Sify Technologies, Asiainfo Security, N-able, Beijing Abt Networks, Richinfo Technology, DPtech, AsiaInfo, Allot, Cerillion and Ribbon Communications.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Sify Technologies$468M$107M3.2x2.0x13.8x8.2x
Asiainfo Security$1.2B($11M)1.2x1.1x(126.2x)339.7x
N-able$509M$80M2.1x2.0x13.5x6.8x
Beijing Abt Networks$83M($21M)8.3x8.0x(33.0x)-
Richinfo Technology$273M$51M4.3x4.6x22.8x18.3x
DPtech$182M$25M5.3x4.9x39.0x-
AsiaInfo$940M$39M0.3x0.3x8.1x7.9x
Allot$102M$6M3.0x2.7x48.2x21.8x

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Common questions about Silver Peak Systems

When was Silver Peak Systems founded?Silver Peak Systems was founded in 2004.
Where is Silver Peak Systems headquartered?Silver Peak Systems is headquartered in San Jose, CA, United States.
Is Silver Peak Systems publicly listed?No, Silver Peak Systems was acquired by Hewlett Packard Enterprise in July 2020.
Who acquired Silver Peak Systems?Silver Peak Systems was acquired by Hewlett Packard Enterprise in July 2020.
How much was Silver Peak Systems acquired for?Silver Peak Systems was acquired for $925M in July 2020.
How much funding has Silver Peak Systems raised?Silver Peak Systems has raised $93M across 2 funding rounds.
What was Silver Peak Systems' last funding round?Silver Peak Systems' last funding round was a $90M undisclosed-stage round in June 2018, led by TCV.
Who are Silver Peak Systems' investors?Silver Peak Systems' investors include TCV.
Which companies are comparable to Silver Peak Systems?Companies comparable to Silver Peak Systems include Corelight, Sify Technologies, Solo.io, Asiainfo Security, Nile and N-able.

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