Versa Networks Strengthens Position Achieving a Key Milestone with 150,000 Contracted Licenses

SANTA CLARA, Calif., June 14, 2018 /PRNewswire/ -- Versa Networks, a leading innovator of next-generation software-based networking and security solutions, is continuing to accelerate its momentum as a leader in the software-defined wide area network (SD-WAN), SD-Security and SD-Branch market, garnering more than 150,000 contracted licenses worldwide to-date. Versa's Cloud IP platform is now embraced by more than 50 managed service providers to deliver secure SD-WAN services to multiple segments of the enterprise market. In addition, multiple large enterprises are deploying Versa Cloud IP Platform themselves to transform their WAN securely and accelerate their digital transformation and transition to multi-cloud/SaaS.

The company has also built a robust partner ecosystem of channel, reseller and system integrators, that has grown by 100 percent since 2017, doubling its go-to-market partners. Versa continues to enable and increase revenue opportunities for its provider partners through ongoing innovation in software-defined networking (SDN) and security (SD-Security), as well as network function virtualization (NFV).

"Digital transformation and the transition to multi-cloud/SaaS is driving tremendous growth in SD-WAN and Versa has emerged as a key player in this crowded market," said Kelly Ahuja, CEO of Versa Networks. "Our conversations with prospective customers have evolved from 'what and why' to 'when and how'.  Being the only SD-WAN vendor to encompass a full-suite of integrated SD-Security differentiates us, and gives our customers unmatched visibility, control, agility and scalability to meet their business needs. Our innovation, technology leadership and transformative business model is resonating as customers are committing to long term partnerships."

Notable Customer Movement and Deployments

Versa Networks announced Capital One as a customer, whose hybrid approach to SD-WAN deployment has taken the lead in the financial industry. The large financial institution chose Versa Networks because of the company's technology innovation that gave them simplicity, speed and scale. Many others are in the midst of their deployments and the company expects them to publicly share their success with Versa during the course of this year.

Since 2017, more than 50 Service Providers have chosen to partner with Versa Networks including Comcast Business, China Telecom Global, Kalaam Telecom, KDDI, Singtel, Tata Communications, Telesystems, Transtelco, Verizon and VergX. In the first half of 2018, Virgin Media Business, Verizon Business Markets, Zayo, Wholesale Carrier Services, Hub One and others also joined in the extensive list of customer wins.

"Managed service providers gained valuable experience in the first round of their SD-WAN deployments and are entering round two of their software adoption in support of next generation services," said Mike Fratto, Research Director, GlobalData. "Versa Networks' recent service provider wins shows that the managed services market is progressing from single function SD-WAN appliances to SD-Branch offerings with SD-WAN as a foundational capability upon which other virtualized network functions like routing and firewalling are supported on the same platform. Robustness, simplicity, and versatility are key elements for MSPs managing a large and diverse customer base."

In the U.S. alone, CenturyLink was the first Service Provider to partner with Versa for their SD-WAN service. In 2017, Comcast launched their ActiveCore service that is based on Versa. Verizon also launched their Secure Software Defined Branch service with Versa in 2017. Just recently, Verizon Business Markets recently launched the SD-Branch with Versa for small and medium businesses, state and local governments and education institutions. The new offering combines application-experience routing and SD-WAN functionality, as well as various advanced security services such as firewall, web filtering and unified threat management.

Accelerated Company Growth

Versa Networks has continued its global growth and expansion.  The employee count has doubled in the past year, reaching more than 200 employees worldwide. In 2017, the company moved its headquarters in San Jose to a much larger office and expanded its Bangalore office in anticipation of this growth. Rob Mustarde joined Versa as SVP of Worldwide Sales earlier this year and is focused on expanding Versa's global coverage and capacity to meet the customer and market need.

Noteworthy Industry Recognition

In the past year, Versa Networks and its Cloud IP Platform have received several industry accolades, including:

• 2018 SD-WAN Company of the Year by market research firm Quadrant Knowledge Solutions 
• 2018 SD-WAN Leadership Award, presented by TMC's INTERNET TELEPHONY Magazine
• Gold Stevie for New Product or Service of the Year in the Software Defined Infrastructure, presented by the American Business Awards
• Silver Stevie for New Product of the Year in the Network Security Solutions, presented by the American Business Awards
• Top Performer in the SD-WAN category for the Winter 2018 Customer Success Report published by Featured Customers
• 2017 Channel Program Excellence Award, presented by TMC's INTERNET TELEPHONY magazine
• 2017 Red Herring Top 100 Global Winner
• 2017 Cloud Computing Security Excellence Award, presented by TMC's INTERNET TELEPHONY magazine
• 2017 SD-WAN Excellence Award, presented by TMC's INTERNET TELEPHONY magazine
• Recognition in CRN's 2017 Network Connectivity Partner Program Guide
• 2017 Red Herring Top 100 North America Winner

Versa partners and customers are also benefiting from notable award wins thanks to the adoption of the Versa Cloud IP Platform, of which include:

• Most Innovative SD-WAN Service by Light Reading's 2018 Leading Lights Awards
• Most Innovative NFV Deployment Strategy by Light Reading's 2018 Leading Lights Awards
• Best SD-WAN Managed Service from MEF 2017
• Gold Stevie for Innovation of the Year in the Business Service Industries, presented by the American Business Awards
• Best SD-WAN Service from the Network Transformation Awards at the SDN NFV World Congress

"We've seen a substantial increase of deployments in the SD-WAN market due to the growing networking and security demands of enterprise businesses requiring agility, control and visibility as they move to multi-cloud. Thanks to SD-WAN's deployment success in the early adoption stage, the market is quickly moving towards a rapid growth stage where organizations are now replacing their legacy hardware WANs with secure SD-WAN and SD-Branch solutions," said Ray Mota, CEO & Principal Analyst, ACG Research. "The recent notable customer wins by Versa Networks suggests that the market is positioning SD-WAN with integrated security as the next generation secure networking solution for organizations pushing towards digital transformation and multi-cloud services."

For more details on Versa Networks and its Cloud IP Platform, visit www.versa-networks.com.

About Versa Networks
Versa Networks is a leading innovator in the SD-WAN and SD-Security market. Versa's solutions enable service providers and large enterprises to transform enterprise WAN's to achieve unprecedented business advantages. Versa's carrier-grade cloud-native software platform provides unmatched agility, cost savings and flexibility, transforming the business of networking. The company is backed by premier venture investors Sequoia, Mayfield, Artis Ventures and Verizon Ventures. For more information, visit https://www.versa-networks.com or follow Versa Networks on Twitter @versanetworks.

Versa Networks Media Contact:
Jacqueline Velasco
408-680-0564
[email protected]

SOURCE Versa Networks