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- Versa Networks
Versa Networks Valuation, Funding & Investors
Versa Networks is valued at $411M as of October 2022.
Last Versa Networks valuation
$411M
Undisclosed stage · Oct 2022
Last Versa Networks funding round
$120M
Undisclosed stage · Oct 2022
Cumulative funding Versa Networks raised
$302M
across 5 funding rounds
Key investors in Versa Networks
Sequoia Capital
Mayfield Fund
Verizon Ventures
Artis Ventures
BlackRock
Princeville Capital
About Versa Networks
Versa Networks is a San Jose-headquartered cybersecurity company delivering Secure Access Service Edge (SASE) platforms combining SD-WAN, firewall-as-a-service, and zero-trust network access. Deployed in cloud, on-premises, or hybrid for enterprises and service providers worldwide. Versa powers networks for 1,000 customers across 100 countries, including Deutsche Telekom. Recognized as a Gartner Magic Quadrant leader since 2021, its Versa Titan offers simplified management for SMBs.
Founded
2012
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$411M (Oct 2022)
Versa Networks Valuation
Versa Networks is currently valued at $411M, based on its undisclosed-stage round in October 2022.
The $120M round was led by BlackRock.
Versa Networks' valuation has grown 1.2x from $330M at its Series C in November 2017 to $411M in October 2022, across 2 priced rounds.
Versa Networks valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2022 | Undisclosed stage | $411M |
| Nov 2017 | Series C | $330M |
Versa Networks Funding History
Versa Networks has raised a total of $302M across 5 funding rounds.
Versa Networks' first fundraising round was a $29M Series B in November 2014. The most recent completed round was a $120M undisclosed-stage round in October 2022.
Versa Networks funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2022 | Undisclosed stage | BlackRock (lead) | $120M | $411M | Versa Networks is a networking and cybersecurity firm specializing in software-defined networking, Secure Access Service Edge (SASE), SD-WAN, and AI-powered security services that converge security and networking to reduce cybersecurity risk for enterprises. The company announced a $120 million funding round on October 27, 2022, comprising equity and debt, led by BlackRock with participation from Silicon Valley Bank, bringing total capital raised to $316 million. A related Series E tranche involved issuing 25,699,696 convertible preferred shares at $2.9182060 per share, expecting $74.997 million in funding around October 14, 2022, at a post-money valuation of $410.73 million. Proceeds from the round were allocated to go-to-market efforts, scaling operations, and accelerating SASE product development ahead of a planned IPO. Versa, with around 625 employees, serves tens of thousands of enterprises globally and reported 60% growth in annual contract value over recent years, though specific revenue figures were not disclosed. The company emphasizes its single-platform approach combining SD-WAN, routing, and security, differentiating it from competitors using portfolio strategies. In the consolidating SD-WAN and SASE market, Versa has avoided acquisition and positioned itself as a leader, recognized in Gartner's Magic Quadrant for SD-WAN. Competitors include Cisco (Viptela), VMware (VeloCloud), HPE Aruba (Silver Peak), and Palo Alto Networks (CloudGenix). Gartner forecasts the SASE market to reach $15 billion by 2025, with 50% of new SD-WAN purchases bundled in single-vendor SASE offerings by then. |
| Jun 2021 | Series D | Princeville Capital (lead); RPS Ventures (lead); Sequoia Capital | $84M | - | Versa Networks raised an $84 million Series D funding round on June 30, 2021, led by Princeville Capital and RPS Ventures, with participation from Sequoia Capital and others. The company provides Versa SASE, a secure access service edge platform combining networking, security, SD-WAN, and multitenancy for enterprise branches, teleworkers, and cloud applications. Total funding across rounds reached approximately $196.3M to $316.25M by later dates. |
| Nov 2017 | Series C | - | $33M | $330M | - |
| Dec 2016 | Series C | Artis Ventures (lead); Sequoia Capital; Verizon Ventures; Oryx Ventures; Mayfield Fund | $36M | - | Versa Networks, founded in 2012, provides secure networking, security, and cloud solutions, including Secure Access Service Edge (SASE) platforms that combine networking and security services. The company serves thousands of customers globally across hundreds of thousands of sites, with over 5,000 customers and 500,000 locations reported in later years, winning business through more than 2,000 channel partners and 150 service providers. Versa Networks raised $36 million in its Series C round on December 23, 2016, led by Artis Ventures, with participation from Mayfield Fund, Sequoia Capital, Verizon Ventures, and others, following prior rounds including a $29M Series B in 2014 led by Mayfield and a $14.4M Series A in 2012 led by Sequoia. This 2016 Series C contributed to Versa's early growth in the SD-WAN and SASE markets, where it has offered integrated network and security technology since inception, differentiating from competitors focused solely on networking or security. Subsequent funding included another Series C tranche of $32.9M in late 2017, a $90M Series D in 2020, an $84M Series D in 2021 co-led by Princeville Capital and RPS Ventures (bringing total funding to $196M at that point), a $75M Series E in 2022, and a $120M pre-IPO round in 2022 led by BlackRock. The company was recognized as Frost & Sullivan's Entrepreneurial Company of the Year around 2016 and plans to use later funds for technology R&D, sales, marketing, channel expansion, and growing headcount from 500 to 600 employees. Versa Networks remains privately held with investors including Sequoia Capital, Mayfield Fund, Artis Ventures, Verizon Ventures, Comcast Ventures, Liberty Global Ventures, Princeville Global Fund, RPS Ventures, and BlackRock. The SASE market is projected to grow rapidly, with Gartner estimating a 42% CAGR to $11 billion by 2024, positioning Versa for expansion amid rising demand for remote work and converged networking-security solutions under CEO Kelly Ahuja, formerly of Cisco. |
| Nov 2014 | Series B | Mayfield Fund (lead); Artis Ventures; Sequoia Capital; Verizon Ventures | $29M | - | - |
Who has invested in Versa Networks?
8 investors have backed Versa Networks across its funding rounds, including Sequoia Capital, Mayfield Fund, Verizon Ventures, Artis Ventures, BlackRock and Princeville Capital.
Lead investors include BlackRock, Princeville Capital, RPS Ventures, Artis Ventures and Mayfield Fund.
Versa Networks Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Nov 2014 | ||
| 2 | Lead | Nov 2014 | ||
| 2 | Participant | Nov 2014 | ||
| 2 | Lead | Nov 2014 | ||
| 1 | Lead | Jun 2021 | ||
| 1 | Lead | Jun 2021 | ||
This data is available for Pro users. Sign up to see all 8 Versa Networks investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialVersa Networks Competitors
Versa Networks competitors include listed companies like Asiainfo Security and Enea, and private ones like Twingate, Aryaka Networks, Nile and Corelight.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $400M | - | ||
| Private | - | - | $539M | - | ||
| Private | $8M | - | $775M | 96.9x | ||
| Publicly listed | $1.2B | ($11M) | $781M | 1.1x | ||
| Private | - | - | $900M | - | ||
| Publicly listed | $92M | $22M | $124M | 1.5x |
Versa Networks Public Comps
Versa Networks is still privately-owned, but its public comps include F-Secure, Allot, Itsec Asia, Digital Arts, BTQ Technologies, FFRI Security, AHNLAB, Guangdong Tecsun Science, AsiaInfo and Axgate.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $168M | $59M | 3.4x | 3.2x | 9.6x | 9.8x | |||
| $102M | $6M | 3.0x | 2.7x | 48.2x | 21.8x | |||
| $30M | $6M | 13.3x | 10.5x | 63.6x | 38.5x | |||
| $70M | $37M | 3.9x | 3.7x | 7.3x | - | |||
| $226K | ($18M) | 1720.6x | 266.9x | (21.8x) | - | |||
| $28M | $10M | 13.4x | 13.7x | 38.3x | - | |||
| $195M | $44M | 1.1x | - | 4.8x | - | |||
| $84M | $3M | 4.8x | - | 116.9x | - | |||
This data is available for Pro users. Sign up to see all Versa Networks competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Versa Networks
| When was Versa Networks founded? | Versa Networks was founded in 2012. |
| Where is Versa Networks headquartered? | Versa Networks is headquartered in San Jose, CA, United States. |
| Is Versa Networks publicly listed? | No, Versa Networks is a private, VC-backed company. |
| What is Versa Networks' valuation? | Versa Networks was last valued at $411M in its undisclosed-stage round in October 2022. |
| How much funding has Versa Networks raised? | Versa Networks has raised $302M across 5 funding rounds. |
| What was Versa Networks' last funding round? | Versa Networks' last funding round was a $120M undisclosed-stage round in October 2022, led by BlackRock. |
| Who are Versa Networks' investors? | Versa Networks' investors include Sequoia Capital, Artis Ventures, Verizon Ventures, Mayfield Fund, RPS Ventures, Princeville Capital, BlackRock and Oryx Ventures. |
| Which companies are comparable to Versa Networks? | Companies comparable to Versa Networks include Twingate, Aryaka Networks, Nile, Asiainfo Security, Corelight and Enea. |
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