Tracxn - Enterprise Networking Startup Landscape

MARCH 2019
ENTERPRISE NETWORKING

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Enterprise Networking - Mar 2019
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on March 29, 2019.
Enterprise Networking Feed Summary
4
Enterprise Networking > Feed Summary
It is the practice of transporting and exchanging data between devices / end points over a shared medium such as LAN /
WAN in an enteprise
• Inclusions: Companies providing Network and
Connectivity products (or cloud-based services) for
enterprises, government or organizations (B2B) such
as Network Controllers, CDN, WLAN Infrastructure,
WAN, Network Management, Network Virtualization
etc
• Exclusions: Consultancy, re-sellers and services
companies. Home networking equipment and
specialized equipment providers such as marine,
mining, space are not covered
• Excludes funding information of Chinese companies Feed in Numbers
Overview
$13.5B
Funding
114
Mega
Companies
462929
FundedCovered on
Tracxn
36
Unicorns
41
Soonicorns
24
Minicorns
70
IPO’d Cos
271
Late Stage Cos
119
240
Acquisitions
46
DeadPooled
1
Acquihired
Series A+ Cos
VMware
(1998, Palo Alto, $388M)
Hewlett Packard
Enterprise
(1939, Palo Alto)
Cisco
(1984, San Francisco, $2.5M)
Top Companies

Investment Trend Summary
Summary of Funding Activity in Enterprise Networking
5
$400M - PE
Avaya (2000, Basking Ridge, $400M)
$80M - Series F
Silver Peak (2004, Santa Clara, $234M)
$150M - Series E
CloudFlare (2009, San Francisco, $332M)
$70M - Series D
Barefoot Networks (2013, Palo Alto, $225M)
$110M - Series A
DriveNets (2015, Raanana, $110M)
$60M - Series D
Avi Networks (2012, Sunnyvale, $115M)
$100M - Series D
Accedian (2004, Montreal, $131M)
$55M - Series C
Cato Networks (2015, Tel Aviv, $125M)
$90M - Series F
$50M - Series D
Fastly (2011, San Francisco, $219M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Enterprise Networking > Feed Summary > Investment Trend Summary
Seed Double M Partners (#3), Maxfield Capital (#3), Timark(#2)
Series A/B Sequoia Capital (#3), Menlo Ventures (#3), Cisco Investments (#3)
Series C+
Cisco Investments (#3), Hermes Growth Partners (#3), Kleiner
Perkins (#2)
Incubators
Plug and Play Tech Center (#6), Alchemist Accelerator (#4),
Techstars (#4)
Other Notable
Investors
TriplePoint Capital (#11), Swisscom (#4), BDC (#3)
Debt Investors
Silicon Valley Bank (#5), Eastward Capital Partners (#4), Idinvest
Partners (#2)
Most Active InvestorsRecent Investments
73
68
37
25
7
2014 2015 2016 2017 2018 2019*
Y-o-Y # of Companies Founded 59 56 62 45 39 7
$11B
$675M
$483M
$427M
$12.7M
US
Israel
Canada
Europe
Australia
$ Funding
$360M
$600M $612M
$909M
$575M $566M
$1.4B
28
2014 2015 2016 2017 2018 2019*
$ Funding # Rounds

Summary of exit outlook in Enterprise Networking
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Sequoia Capital 13
Barracuda (2002, Campbell, $176M)
Viptela (2012, San Jose, $109M)
New Enterprise
Associates
10
Aerohive (2006, Sunnyvale, $105M)
Herald
Investment
Management
10
Mellanox Technologies (1999, Yokneam Illit, $97.7M)
Accel Partners 9
New Edge Networks (1999, West Bloomfield, $103M)
Trapeze Networks (2002, Pleasanton, $97.5M)
Western
Technology
Investment
8
Meru Networks (2002, Sunnyvale, $235M)
New Edge Networks (1999, West Bloomfield, $103M)
Mar 2019 Mellanox Technologies Acq by NVIDIA for $6.9B
Nov 2017
Brocade Communication Systems Acq by Broadcom
for $5.9B
Oct 2016
Level 3 Communications Acq by CenturyLink for
$34B
May 2015 Broadcom Acq by Avago Tech for $17B
Jun 2007 Avaya Acq by Silver Lake for $8.2B
Jul 2000 Alteon Websystems Acq for $7.8B
Enterprise Networking > Feed Summary > Exit Outlook Summary
Cisco 24
Arrowpoint Communications (May 2000, $5.7B), Cisco
Meraki (Nov 2012, $1.2B), Insieme Networks (Nov 2013,
$863M)
Juniper
Networks
10
Netscreen (Feb 2004, $4B), Mist Systems (Mar 2019, $405M),
Peribit Networks (Apr 2005, $337M)
Akamai 7
Cotendo (Dec 2011, $268M), Speedera Networks (Mar 2005,
$130M), Xerocole (Mar 2015)
Riverbed 6
OPNET Technologies (Oct 2012, $1B), Zeus Technology (Jul
2011, $140M), Mazu Networks (Jan 2009, $25M)
Oracle 4 Corente (Jan 2014), Xsigo (Jul 2012), Talari (Nov 2018)
Recent IPOs Top Acquisitions
Megaport Dec 2015
SDN-based interconnect/connectivity provi…
IPO MCap: $63M
Hewlett Packard Enterprise Oct 2015
Enterprise Products and Services
IPO MCap: -
Cameo Dec 2014
Network equipment manufacturer
IPO MCap: -
Arista Jun 2014
Software driven Cloud networking solution…
IPO MCap: $2.7B
SolarWinds Oct 2018
Network Management Software
IPO MCap: $4.6B
Avaya Jan 2018
Customer & Team Engagement Solutions
IPO MCap: -
Ethernity Networks Jun 2017
High end network processing SoCs
IPO MCap: $58.9M
Napatech Jan 2017
Network acceleration management and secur…
IPO MCap: -

Marketmap: Enterprise Networking
Overview
Companies 929
Funded 462 Series A+ 271
Funding $13.5B Last 2 yrs $2.6B
Most Active Investors
Seed Double M Partners (3)
Series A/B Sequoia Capital (3)
Series C+ Cisco Investments (3)
Others TriplePoint Capital (11)
Incubators Plug and Play Tech Center (6)
Top Cities
Bay Area 226 Cos $6.2B
Plano 4 Cos $730M
Feed in Numbers
Unicorns 36 Soonicorns 41
Minicorns 24 Editor Picks 148
Acquihired 1 Deadpooled 46
Top Companies
Cisco (1984, San Francisco, $2.5M)
VMware (1998, Palo Alto, $388M)
Hewlett Packard
Enterprise
(1939, Palo Alto)
Exits
IPOs 70 SolarWinds, Arista
Acquisitions 240 Level 3 Communications,
Broadcom
Top Acquirers Cisco, Juniper Networks
NETWORK MANAGEMENT
NETWORK ORCHESTRATION
PERFORMANCE MONITORING
NETWORK TESTING
VIRTUALIZATION
SDN CONTROLLER*
NETWORK OS
EQUIPMENT
SDN SWITCH
SWITCHES
NETWORK VIRTUALIZATION*
ROUTERS
CONTENT DELIVERY
SD-WAN*
VIRTUAL PRIVATE
SUITE
WLAN INFRASTRUCTURE
NETWORK MANAGEMENTSOFTWARE
EQUIPMENT NETWORK
APPLICATION DELIVERY
Enterprise Networking > Feed Summary > BlueBox
7

Key Sub Sectors in Enterprise Networking Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
WAN >
SD-WAN 45 $200M 11
CDN
84 $251M 6
Network Management >
SDN 13 $113M 5
Network Software >
Routing Software 21 $70.7M 6
Network Controller >
SDN 12 $54.9M 4
Network Management
84 $31.8M 4
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Network Equipment
Companies that provide Networking Equipment useful
in switching, routing, and other network...
124 72 $3B
CDN
Companies that provide Content Delivery Network
(CDN) product which helps in faster delivery...
123 63 $2.1B
Network Management
Companies that provide software and hardware
products for enterprise network management
235 84 $1.7B
WAN
Companies that provide Wide Area Network (WAN)
optimization products
79 45 $1.6B
WLAN Infrastructure
Companies that provide hardware/software for
wireless access of Local Area Network (LAN)...
101 52 $1.4B
Network Software
Companies that provide software for OS, routing, DNS,
firmware, and other network functions
53 36 $977M
Network Virtualization
Companies that provide products for provisioning of
network resources and network functionality...
30 18 $904M
Enterprise Networking > Feed Summary > Summary of Key Markets

List of Notable Companies in Enterprise Networking
Notable Companies in the Sector (1/3)
9
Note: *(Founded Year, Location, Total Funding)
Enterprise Networking > Feed Summary > Notable Companies in the Sector
Public
Arista
(2005, Santa Clara)*
Akamai
(1998, Cambridge)
Ciena
(1992, Linthicum Heights)
Juniper Networks
(1996, Sunnyvale)
Ubiquiti Networks
(2005, San Jose)
Limelight
(2001, Tempe, $130M)
EXFO
(1984, Quebec City)
Extreme Networks
(1996, San Jose)
Ixia
(1997, Calabasas)
Aerohive
(2006, Sunnyvale, $105M)
Public
NETGEAR
(1996, San Jose, $98M)
NetScout
(1985, Westford, $6M)
Meru Networks
F5 Networks
(1996, Seattle)
Megaport
(2013, Brisbane, $7.4M)
Ethernity Networks
(2004, Lod)
PIOLINK
(2000, Geumcheon)
NetLinkz
(2004, Sydney)
Knix
(2000, Seoul)
Silicom
(1987, Kfar Saba)
Public
A10 Networks
(2004, San Jose, $120M)
Napatech
(2003, Soborg, $15M)
Cisco
Superclick Networks
(1997, Montreal, $2.3M)
DrayTek
(1997, Hsinchu, $350k)
Avago Tech
(2005, California)
Citrix
(1989, Fort Lauderdale)
Allot
(1996, Hod Hasharon)
Enea
(1968, Kista)
Hewlett Packard
Enterprise
(1939, Palo Alto)
Public
NEC
(1953, Bunkyo)
Realtek Semiconductor
(1987, Hsinchu)
Spirent
(1936, Sunnyvale)
ADTRAN
(1985, Huntsville)
AudioCodes
(1994, Lod)
Broadmedia
(1996, Tokyo)
Cameo
(1991, Taipei)
D-Link
(1986, Taipei)
Dolphin Interconnect
Solutions
(1992, Woodsville)
Edimax
(1986, Taipei)
Public
Nuvel
(2010, Los Gatos)
Planet Technology
Corporation
(1993, Taipei)
Radware
(1997, Tel Aviv)
Riversoft
(1997, London)
Ubiquitous Corporation
(2001, Tokyo)

10
Acquired
Level 3
Communications
(1998, Broomfield)
Broadcom
(1991, California)
Bay Networks
(1994, Billerica)
Avaya
(2000, Basking Ridge, $400M)
Alteon Websystems
(1996, San Jose)
Mellanox Technologies
(1999, Yokneam Illit, $97.7M)
Brocade
Communication
Systems
(1995, San Jose)
Arrowpoint
Communications
(1997, Westford, $15.8M)
Acquired
SolarWinds
(1999, Austin, $230M)
Netscreen
Riverbed
Aruba Networks
Foundry Networks
(1996, Santa Clara)
3Com
(1978, Marlborough)
Barracuda
(2002, Campbell, $176M)
Infoblox
(1999, Santa Clara, $73M)
Gigamon
(2004, Milpitas, $22.8M)
Fast Forward Networks
(1999, San Francisco)
Acquired
Nicira
(2007, Palo Alto, $43.4M)
NewPort
Communications
(1996, Irvine, $28M)
Cisco Meraki
(2006, San Francisco, $40M)
OPNET Technologies
(1986, Bethesda)
Micromuse
Insieme Networks
(2013, California)
Ruckus Wireless
Sightpath
(1998, Waltham)
Aironet
(1986, Akron)
Chipcom
(1989, Southborough, $6M)
Acquired
Xircom
(1988, Thousand Oaks)
VMware
(1998, Palo Alto, $388M)
OpenDNS
Viptela
(2012, San Jose, $109M)
Virtela
Communications
(2000, Greenwood Village,
$105M)
Blue Planet
(2006, Hanover, $97.6M)
Onwards Media Group
(2011, Singapore)
Airespace Wireless
Networks
(2001, San Jose, $22M)
Mist Systems
(2014, Cupertino, $88.4M)
Acquired
BlueCat
(2001, Toronto, $27.8M)
BLADE Network
Technologies
Cyan
(2006, Petaluma)
Enterasys Networks
(1983, San Jose)
EdgeCast Networks
(2006, Santa Monica, $74M)
Peribit Networks
NetScaler
Cotendo
Packeteer
(1996, Cupertino)

11
Acquired
Topspin
Communications
VitalStream Holdings
(1986, Costa Mesa)
Netiverse
(1999, San Bernardino)
Voltaire
(1997, Herzliya, $65M)
Network General
(2004, San Jose)
Net Optics
(1996, Santa Clara)
CDNetworks
(2000, Campbell, $96.5M)
Contrail Systems
Tail-f Systems
(2005, Stockholm, $6.3M)
Joyent
Acquired
Endace
(2001, Auckland)
Ardent
Communications
(1996, Bristol)
Trapeze Networks
(2002, Pleasanton, $97.5M)
Anue Systems
(2002, Austin)
New Edge Networks
(1999, West Bloomfield, $103M)
Cariden Technologies
(2001, Sunnyvale)
Zeus Technology
(1995, Cambridge)
Reactivity
(1998, Redwood City)
Speedera Networks
(1999, Santa Clara, $26.5M)
Netsolve
(1996, Austin)
Acquired
Ipsilon Networks
Edgewater Networks
(2002, San Jose, $31.4M)
Unicorns
CloudFlare

Tracxn - Enterprise Networking Startup Landscape

List of Notable Companies by Market in Enterprise Networking
Notable Companies by Market (1/18)
13
Enterprise Networking > Feed Summary > Notable Companies by Market
Network Services
Virtual Overlay Network
Virtela Communications (2000, Greenwood
Village, $105M)
Virtual Overlay Network Services
Stage: Acquired
Norwest Venture Partners, New Enterprise
Associates, Palomar Ventures and 4 Other Investors
Luminate Wireless (2013, Cupertino, $48M)
Cloud-enabled Mobile Network Connection
Soonicorn. Stage: Series B
Sequoia Capital, New Enterprise Associates,
Qualcomm and 4 Other Investors
Metaswitch (1981, London)
SoftSwitch and VOIP solutions provider
Soonicorn. Stage: Funded
Sequoia Capital, Walden Riverwood Ventures,
Northgate Capital and 1 Other Investors
CDN
CDN
DDoS prevention, cloud application acceleration,
and CDN
Unicorn. Stage: Series E
Franklin Templeton Investments, Microsoft
Ventures, Baidu and 8 Other Investors
CDN platform using Varnish cache
Soonicorn. Stage: Series F
Deutsche Telekom Capital Partners, Sozo Ventures,
Swisscom and 11 Other Investors
Limelight (2001, Tempe, $130M)
Content Delivery Network service provider
Unicorn. Stage: Acquired
Goldman Sachs Investment Partners, Bregal
Sagemount, Kaplan Group Investments and 1 Other
Investors
CDN
CDNetworks (2000, Campbell, $96.5M)
Cloud acceleration based DDoS security, CDN and
WAF
Soonicorn. Stage: Acquired
Oak Investment Partners, Shinhan Financial Group,
Goldman Sachs and 4 Other Investors
EdgeCast Networks (2006, Santa Monica,
$74M)
CDN platform
Stage: Acquired
Performance Equity Management, Menlo Ventures,
Steamboat Ventures and 2 Other Investors
Molotov (2015, Paris, $38.3M)
VOD platform for live content, previously aired TV
shows and upcoming movies
Idinvest Partners, Sky, TDF Group and 2 Other
Investors

14
CDN
CDN
Cotendo (2008, Sunnyvale, $36M)
CDN & site acceleration provider
Stage: Acquired
Citrix, Juniper Networks, Sequoia Capital and 6
Other Investors
Speedera Networks (1999, Santa Clara,
$26.5M)
content delivery network(CDN) and distributed
application hosting services.
Stage: Acquired
Trinity Ventures, Bank of America, Comdisco and 6
Other Investors
Akamai (1998, Cambridge)
CDN products and service provider globally
Cisco Investments, Apple, Baker Capital and 5 Other
Investors
CDN
Level 3 Communications (1998, Broomfield)
Communication, telecom & DDoS mitigation service
provider
NTIA, Grumman Hill, ST Telemedia
Broadmedia (1996, Tokyo)
Network & Broadcast media company
Stage: Public
SoftBank Group
Onwards Media Group (2011, Singapore)
Overlay CDN Service and video encoding services
Stage: Acquired
Aetius Capital
Sightpath (1998, Waltham)
technology to provide content delivery solutions
Stage: Acquired
CDN
VitalStream Holdings (1986, Costa Mesa)
Content delivery service provider
Stage: Acquired
Walden Venture Capital, Crosslink Capital, Newlight
Management

15
CDN
Caching
Fast Forward Networks (1999, San Francisco)
Caching solutions for web broadcasting
Bridgescale Partners
Knix (2000, Seoul)
Carrier-neutral internet infrastructure provider in
South Korea
Stage: Public
LB Investment, Hanwha Investment, Japan Asia
Investment and 1 Other Investors
Traffic Monitoring
Stackpath (2015, Dallas, $180M)
Network security as a service, secure CDN & VPN
service
ABRY Partners
ADN
ADN
Network firewall solution for enterprise web &
email
Sequoia Capital, Francisco Partners, Focus Ventures
and 2 Other Investors
A10 Networks (2004, San Jose, $120M)
Solution provider in application networking
Soonicorn. Stage: Public
Silicon Valley Bank, Summit Partners, Bank of
America Merrill Lynch and 8 Other Investors
Netiverse(1999, San Bernardino)
Content acceleration solutions
Stage: Acquired
Sequoia Capital, Cisco

16
ADN
ADN
Radware (1997, Tel Aviv)
Application delivery network & DDoS security
Stage: Public
Evergreen Venture Partners, Pitango Venture
Capital, Herald Investment Management and 3
Other Investors
ADC
F5 Networks (1996, Seattle)
Application Delivery Network
Unicorn. Stage: Public
Chiratae Ventures, Ridge Ventures, Jerusalem
Venture Partners and 2 Other Investors
PIOLINK (2000, Geumcheon)
Provider of Application Delivery Controllers (ADC)
and Cloud security Switches
Editor's Pick. Stage: Public
Hyundai Venture Investment, Atinum Investment
Zeus Technology (1995, Cambridge)
Application Delivery and Load balancer solutions
Stage: Acquired
Scottish Equity Partners, Draper Esprit
NetScaler (1997, Fort Lauderdale)
Application Delivery Controller
Stage: Acquired
GGV Capital, Storm Ventures, Gabriel Venture
Partners and 5 Other Investors
VPN
Stand-alone Software
New Edge Networks (1999, West Bloomfield,
$103M)
Network connectivity services provider for SMEs
Stage: Acquired
Crosspoint Venture Partners, Accel Partners,
Greylock Partners and 7 Other Investors
Broadnet (2000, Fornebu)
Fiber-based data communication service provider

17
WAN
WAN
Circadence (1995, Boulder, $144M)
WAN Optimization Technology
Soonicorn. Stage: Series C
Global Crossing, Hikari Tsushin, Hewlett-Packard
Peribit Networks (2000, Santa Clara, $42M)
WAN Optimization solution
Stage: Acquired
WK Technology Fund, Mayfield, Accel Partners and
3 Other Investors
Ardent Communications (1996, Bristol)
Wide Area Network (WAN) access solutions
Stage: Acquired
Nuvel (2010, Los Gatos)
WAN acceleration solution through tunneling
Stage: Public
WAN
Packeteer (1996, Cupertino)
WAN Application Development/Optimization
Stage: Acquired
New Enterprise Associates, ONSET Ventures,
Berkeley VC International
SD-WAN
WAN Optimization and Data Acceleration
TCV, Benchmark, Duff Ackerman & Goodrich and 8
Other Investors
Cradlepoint (2004, Boise, $155M)
Network Routers and Services
TCV, Sorenson Capital, Delta-v Capital and 4 Other
Investors
Aryaka Networks (2009, Milpitas, $125M)
WAN optimization and Accelerated application
delivery
Soonicorn. Stage: Series D
Deutsche Telekom Capital Partners, Third Point
Ventures, Trinity Ventures and 6 Other Investors

18
WAN
SD-WAN
Network Security as a Service (NSaaS) platform
Lightspeed Venture Partners, Aspect Ventures,
Providing Secure Extensible Networks
Sequoia Capital, Redline Capital Management,
VeloCloud (2012, Mountain View, $83M)
Cloud Based WAN Optimization
Hermes Growth Partners, Khazanah, New
Enterprise Associates and 7 Other Investors
SD-WAN
Riverbed (2002, San Francisco, $68.4M)
WAN Optimization and application performance
platform
Goldman Sachs, Accel Partners, Lightspeed Venture
Versa Networks (2012, Cupertino, $57.4M)
SD-WAN and SD-Security solutions based on NFV
Verizon Ventures, Sequoia Capital, Mayfield and 3
Other Investors
Talari (2004, San Jose, $45.3M)
Creating WAN by aggregation of private
connections
Square 1 Bank, Menlo Ventures, Silver Creek
Ventures and 2 Other Investors
SD-WAN
CloudGenix (2013, Santa Clara, $34M)
Software-defined WANs
Intel Capital, Bain Capital Ventures, Mayfield and 1
Other Investors
Citrix (1989, Fort Lauderdale)
Virtualization and Remote Access Software | Suite
The Angels’ Forum, Bridgewater, Kleiner Perkins
NetLinkz (2004, Sydney)
SD-WAN software for devices to connect anywhere
on the network
Stage: Public

19
Network Controller
SDN
Big Switch Networks (2010, Mountain View,
$241M)
Software Defined Network Control Fabric
Dell Technologies, Silver Lake, Index Ventures and
10 Other Investors
Contrail Systems (2012, Santa Clara, $10M)
Controller for SDN
Stage: Acquired
Khosla Ventures
Megaport (2013, Brisbane, $7.4M)
SDN-based interconnect/connectivity provider
Digital Realty
Virtualization Software
Carl Icahn, Cisco, Intel Capital and 6 Other Investors
Midokura (2010, Barcelona, $44M)
Network Virtualization leveraging existing physical
infrastructure
Simplex, INCJ, Fujitsu and 4 Other Investors
Nicira (2007, Palo Alto, $43.4M)
Network Virtualization platform for SDDC
Lightspeed Venture Partners, New Enterprise
Associates, Andreessen Horowitz
Ciena (1992, Linthicum Heights)
Optical Networking Equipment Provider
Spencer Trask, Kleiner Perkins, Lightspeed Venture
NFV Platform
Affirmed Networks (2010, Middlesex, $155M)
Mobile network virtualization solution
Centerview Capital, Qualcomm Ventures, Eastward
Capital Partners and 7 Other Investors
Ethernity Networks (2004, Lod)
Minicorn. Stage: Public
Pix Vine Capital, Herald Investment Management,
Alice Ventures
Enea (1968, Kista)
Open source NFV platform and embedded software
solutions provider

20
Network Management
Network Management
SolarWinds (1999, Austin, $230M)
Austin Ventures, Insight Venture Partners, Bain
Capital Ventures and 5 Other Investors
SevOne (2005, Wilmington, $204M)
Network Performance Management
Westfield Capital, Bain Capital Ventures,
HarbourVest Partners and 3 Other Investors
Gigamon (2004, Milpitas, $22.8M)
Traffic Visibility Fabric Solutions
Highland Capital Partners
Napatech (2003, Soborg, $15M)
Network acceleration management and security
applications
Stage: Public
Ferd Venture, Northzone, Syddansk Innovation and
2 Other Investors
Network Management
Micromuse (1989, San Francisco, $8M)
Network Management Solutions
Stage: Acquired
Sierra Ventures
Tail-f Systems (2005, Stockholm, $6.3M)
Networking Software
Stage: Acquired
SEB
NetScout (1985, Westford, $6M)
Visual tools for network performance management
Greylock Partners, Egan-Managed Capital, TA
Associates Management and 2 Other Investors
Allot (1996, Hod Hasharon)
Provider of virtualization solution, security and
network analytics
Walden Israel, Partech, Gemini Israel Ventures and
4 Other Investors
Network Management
ManageEngine (1995, Pleasanton)
Enterprise IT Management and Customer Support
Software
Randvest Capital
Zabbix (2005, Riga)
Open source distributed network & application
monitoring solutions
Soonicorn. Stage: Bootstrapped Large
Endace (2001, Auckland)
High-speed packet capture technology, network
monitoring and recording
Stage: Acquired
Cariden Technologies (2001, Sunnyvale)
Network Design and Traffic Management tool
Stage: Acquired
Riversoft (1997, London)
Network monitoring and management software
Stage: Acquired

21
Network Management
SDN
Software-defined network management solutions
provider for CSPs
Soonicorn. Stage: Series A
Bessemer Venture Partners, Pitango Venture
Capital
Cyan (2006, Petaluma)
Supplier of carrier grade SDNs
Stage: Acquired
TDF Ventures
Performance Monitoring
ADTRAN (1985, Huntsville)
Network Solutions Providers
Net Optics (1996, Santa Clara)
Application and network visibility solutions
provider
Stage: Acquired
Netsolve (1996, Austin)
Real-time network monitoring solution
Stage: Acquired
New Enterprise Associates, Adams Capital
Management
Network General (2004, San Jose)
Packet network analysis and inspection
Stage: Acquired
TPG, Silver Lake
Network Orchestration
Blue Planet (2006, Hanover, $97.6M)
Multi-Vendor network management
Stage: Acquired
Azure Capital Partners, Norwest Venture Partners,
Tenaya Capital and 5 Other Investors
Edgewater Networks (2002, San Jose, $31.4M)
IP-based network devices and orchestration
solutions provider
Eastward Capital Partners, Palomar Ventures, El
Dorado Ventures and 2 Other Investors
NEC (1953, Bunkyo)
Network orchestration services provider

22
Network Software
Network OS
Cumulus Networks (2009, Mountain View,
$129M)
Linux operating system for networking hardware
Andreessen Horowitz, Battery Ventures, Sequoia
Capital and 5 Other Investors
Pluribus Networks (2010, Palo Alto, $92.5M)
Software-defined networks for data centers
Temasek, Ericsson, Newtech Technology and 9
Other Investors
Embedded Software
Voltaire (1997, Herzliya, $65M)
Provider of scale-out data center fabrics
Stage: Acquired
Benhamou Global Ventures, 3Com, The Challenge
Fund-Etgar and 8 Other Investors
NewPort Communications (1996, Irvine,
$28M)
Routing solutions on semiconductor
Stage: Acquired
Bessemer Venture Partners, Cisco, Integral Capital
Ubiquitous Corporation (2001, Tokyo)
Network embedded software provider
Stage: Public
Domain Name System
Infoblox (1999, Santa Clara, $73M)
DNS Security & network infrastructure control
solutions
Duchossois Technology Partners, Sequoia Capital,
Lehman Brothers and 12 Other Investors
OpenDNS (2005, San Francisco, $51.3M)
Web filtering and DNS service provider
Cisco, Sutter Hill Ventures, Sequoia Capital and 12
Other Investors
BlueCat (2001, Toronto, $27.8M)
DNS and DHCP appliance and security solution
Stage: Acquired
Trident Capital, Bridgescale Partners, OVCF and 2
Other Investors

23
Network Software
Routing Software
128 Technology (2014, Burlington, $62.7M)
Software based networking platform for distributed
routing and network services
G20 Ventures, The Perkins Fund
Network Equipment
Network Equipment
Joyent (2004, San Francisco, $120M)
Cloud computing suite for large enterprises,
developer of Node.js, and network management
Stage: Acquired
EPIC Venture Fund, El Dorado Ventures, Orascom
TMT investments and 6 Other Investors
Chipcom (1989, Southborough, $6M)
Multifunction chassis-based hub and switching
platform provider
Stage: Acquired
Charles River Ventures
Suite
Genband (1999, Plano, $695M)
Unified communication and IP products provider
Silicon Valley Bank, Sevin Rosen Funds, Venrock
CPP Investment Board, Warburg Pincus, ValueAct
Mellanox Technologies (1999, Yokneam Illit,
$97.7M)
Ethernet and InfiniBand solutions for servers and
storage
Oracle, Bessemer Venture Partners, Intel Capital

24
Network Equipment
Suite
Broadcom (1991, California)
Fabless semiconductor company products for
wireless and broadband communication
CampVentures, Ventana Capital Management,
Norwest Venture Partners and 3 Other Investors
3Com (1978, Marlborough)
High-performance networking and security
solutions
Venrock, New Enterprise Associates, Berkeley VC
International and 4 Other Investors
Bay Networks (1994, Billerica)
Ethernet networking products
New Enterprise Associates, Menlo Ventures
Foundry Networks (1996, Santa Clara)
High End Ethernet Switches and Routers
Accel Partners, DCM Ventures
Suite
Linksys (1988, Irvine)
Data networking hardware products
Realtek Semiconductor (1987, Hsinchu)
Major semiconductor company focused on
networking, computer peripherals and multimedia
ICs
Stage: Public
AudioCodes (1994, Lod)
VoIP network solutions
Stage: Public
Pitango Venture Capital, Genesis Partners
Cameo (1991, Taipei)
Stage: Public
SkyChee Ventures
D-Link (1986, Taipei)
Networking equipment provider
Stage: Public
H&Q Asia Pacific, WI Harper Group
Suite
Edimax (1986, Taipei)
Network solutions provider for home and
enterprises
Stage: Public
Enterasys Networks (1983, San Jose)
Network infrastructure and security solutions
provider
Stage: Acquired
Silver Lake, Western Technology Investment,
Valhalla Partners
Planet Technology Corporation (1993,
Taipei)
Industrial Ethernet and surviellance solutions
Stage: Public

25
Network Equipment
Gateways
Netscreen (1998, Sunnyvale, $46M)
Firewall and UTM appliance for network security
Norwest Equity Partners, Spectrum Equity, Juniper
Networks and 6 Other Investors
Reactivity (1998, Redwood City)
Application acceleration - XML manager, gateway
and firewall solutions
Stage: Acquired
Accel Partners, Diamondhead Ventures, JK&B
Switches
High-speed programmable switches
Western Digital, Xilinx, Silicon Valley Bank and 11
Other Investors
Plexxi (2010, Cambridge, $83.4M)
Affinity networking services
GV, Lightspeed Venture Partners, Matrix Partners
Topspin Communications (2000, San
Francisco, $67M)
Server Fabric Switches for data centers
Stage: Acquired
Meritech Capital Partners, Accel Partners, Advent
Ipsilon Networks (1995, Sunnyvale, $42M)
Network Switching solution
Minicorn. Stage: Acquired
Cabletron Systems, Greylock Partners
Switches
Arrowpoint Communications (1997,
Westford, $15.8M)
Provider of intelligent switches
North Bridge, Matrix Partners, Accel Partners and 1
Other Investors
BLADE Network Technologies (2006, Santa
Clara, $10M)
Networking Switches for Data Centers
Stage: Acquired
Garnett & Helfrich Capital, NEC, Juniper Networks
Arista (2005, Santa Clara)
Software driven Cloud networking solutions
Industry Ventures, Accel Partners, Rho Ventures
Insieme Networks (2013, California)
Hardware based response to SDN & NFV
Editor's Pick. Stage: Acquired

26
Network Equipment
Switches
Alteon Websystems (1996, San Jose)
Network switching solutions with Gigabit interfaces
New Enterprise Associates, ONSET Ventures, Silver
Creek Ventures and 6 Other Investors
Industrial Ethernet
Avago Tech (2005, California)
Developer of analog and digital semiconductor
products
Silver Lake
Adapters
Solarflare (2001, Irvine, $267M)
Ethernet network adapters provider
Acacia Capital Partners, Anthem Venture Partners,
Oak Investment Partners and 10 Other Investors
Dolphin Interconnect Solutions (1992,
Woodsville)
PCI Express Adapter solutions
Stage: Public
Morgenthaler, Endeavour Vision
Silicom (1987, Kfar Saba)
High-performance server/appliances networking
solutions
Stage: Public
Herald Investment Management
Xircom (1988, Thousand Oaks)
Network switching technology provider
Stage: Acquired

27
WLAN Infrastructure
WLAN Infrastructure
wireless infrastructure solutions
Stage: Acquired
Vision Capital, Clearstone Venture Partners,
BlueStream Ventures and 13 Other Investors
Enterprise WiFi Solutions Vendor
Stage: Public
IVP, New Enterprise Associates, Lightspeed Venture
Aruba Networks (2002, Sunnyvale, $102M)
Enterprise networking, security and mobile
engagement solutions
Matrix Partners, Sequoia Capital, Trinity Ventures
WLAN Infrastructure
NETGEAR (1996, San Jose, $98M)
LAN based networking products
Lehman Brothers, UBS, Merrill Lynch and 2 Other
Investors
WLAN infrastructure solutions
Stage: Acquired
Juniper Networks, Nortel, Accel Partners and 8
Other Investors
Mist Systems (2014, Cupertino, $88.4M)
Cloud-based analytics platform for Wireless
network solutions
Stage: Acquired
Perceptive Advisors, Lightspeed Venture Partners,
WLAN Infrastructure
Ruckus Wireless (2004, Sunnyvale, $75M)
Smart Wireless LAN systems
Stage: Acquired
Meritech Capital Partners, Singtel Innov8, Motorola
Solutions and 13 Other Investors
Cisco Meraki (2006, San Francisco, $40M)
Cloud Networking
Sequoia Capital, DAG Ventures, Northgate Capital
Airespace Wireless Networks (2001, San
Jose, $22M)
Wireless access points and controllers
Stage: Acquired
Battery Ventures, Fidelity Ventures, Norwest
DrayTek (1997, Hsinchu, $350k)
Broadband Equipment Manufacturer
Stage: Public
DFJ

28
WLAN Infrastructure
WLAN Infrastructure
Extreme Networks (1996, San Jose)
LAN solution provider, SIEM, NAC & NIPS solution
Ignite 500, next47, Norwest Venture Partners and 6
Other Investors
Aironet (1986, Akron)
High speed Wireless LAN products
Stage: Acquired
Axiom Venture Partners, Furneaux Capital
Network Management
Superclick Networks (1997, Montreal, $2.3M)
Network Management solutions for multi room
institutions
Stage: Acquired
Ubiquiti Networks (2005, San Jose)
Low Cost Wifi Radio solutions
Summit Partners, Wesley Clover
WiFi Connectivity
Cambium Networks (2011, Rolling Meadows)
Wireless broadband access and transport solutions
provider

29
Testing Solutions
Testing Solutions
Ixia (1997, Calabasas)
Application & network security and performance
monitoring & testing
Stifel, Silicon Valley Bank, Cadence Bank and 1
Other Investors
EXFO (1984, Quebec City)
Test and service assurance solutions for network
operators and equipment manufacturers
Spirent (1936, Sunnyvale)
Test and Measurement for Applciations,
Infrastructure
Stage: Acquired
Anue Systems (2002, Austin)
Network monitoring and testing
Stage: Acquired
Simulators
OPNET Technologies (1986, Bethesda)
Application and network management
Stage: Acquired
Summit Partners
Stealth Mode
Stealth Mode
Exaware (2006, Netanya, $176M)
Integrated optical and electronic components on a
single chip
Soonicorn. Stage: Series G
Comcast Ventures, Cisco, Pitango Venture Capital

30
Suite
Suite
Manufacturer of networking Equipment
Sequoia Capital, Venezia Capital, Lightspeed
Hewlett Packard Enterprise (1939, Palo
Alto)
Juniper Networks (1996, Sunnyvale)
Networking and Security Products
ZS Fund, New Enterprise Associates, IVP and 4
Other Investors
Brocade Communication Systems (1995,
San Jose)
Data Center Networking Solutions
Stage: Acquired
Globespan Capital Partners, HighBar Partners, Bay

List of Notable Companies in Enterprise Networking in China
Notable Companies in the Sector in China
31
Enterprise Networking > Feed Summary > Notable Companies in the Sector in China
Public
Xunlei
(2003, Shanghai, $20M)
ChinaCache
(1998, Beijing, $32M)
ZTE
(1985, Shenzhen)
Unicorns
Huawei
(1987, Shenzhen)

Recent News in Enterprise Networking Sector
Recent News
32
Enterprise Networking > Feed Summary > Recent News
Mar 2019
UK report confirms warnings of Huawei security risks: US official,
Business Standard
Mar 2019
Britain rebukes Huawei over security failings, discloses more flaws,
itnews.com.au
Mar 2019
NetFoundry & Cloud Comrade Partner to Offer Secure Cloud
Services in Singapore & Southeast Asia, chiefit.me
Mar 2019
Huawei Vows to 'Shake Off' Pressure as Network Business Takes a
Hit, New Delhi Television
Mar 2019 Huawei urges US to drop ‘loser’s attitude’, ejinsight.com
Mar 2019 Britain rebukes Huawei over security failings, ejinsight.com
Mar 2019
China's Huawei posts higher profit as smartphone sales hit record,
Reuters
Mar 2019
Know More About E-Learning Market with Futuristic Growth by
Top Players Like Adobe Systems, Allen Interactions, CERTPOINT
Systems, Cisco Systems, Cornerstone, D2L Corp., Digital Journal
Mar 2019
TSE and Huawei signed the Cooperation Agreement for over 150
MW Japanese Solar Farm, PR Newswire
Mar 2019
Cisco warns of two security patches that don’t work, issues 17 new
ones for IOS flaws, ARN
Mar 2019
Intrusion Detection & Protection System Market is Booming
Worldwide | IBM, Cisco Systems, Symantec, McAfee, HP, CheckPoint,
Digital Journal
Mar 2019
Huawei urges US to drop loser's attitude as carrier business
revenue slips, The Star Online
Key Recent News Key Recent News
Mar 2019 Huawei predicts double-digit growth in revenue, China Daily
Mar 2019
Huawei aims to capture OnePlus’ market share in India: Report, BGR
Media
Mar 2019
Here's how you will get Huawei P30 Pro's wireless charging feature
on the P30, BGR Media
Mar 2019
Huawei defends security record as annual sales top 100 billion
dollars, Irish Examiner
Mar 2019
Huawei urges U.S. to drop 'loser's attitude' as carrier business
revenue slips, Reuters
Mar 2019
EMEA smartphone market, digital transformation gives Huawei a
boost, ITWeb Africa
Mar 2019 Huawei profit surge helps shake off US security concerns, Nikkei
Mar 2019 UK Slam Huawei Over Fresh Security Risks, ChannelNews
Mar 2019 Huawei P30 cases with wireless charging support launched, Digit
Mar 2019
Akamai Earns Top Marks In Human Rights Campaign's 2019
Corporate Equality Index, PR Newswire
Mar 2019 Huawei slammed in UK for jeopardising security, The Star Online
Mar 2019
The Experts Agree, Cloud-Based Gigamon Insight is the Key to
Actionable, Intelligent Network Data Security, Business Wire
Mar 2019
Huawei Mate 30 Confirmed to Already Be in Testing, Will Launch
September or October, New Delhi Television

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
33
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

Some more Sector Reports you might want to check out
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Diagnostics (by Technology)
Feb 2019
Logistics Tech
Feb 2019

Investments ($M) and number of rounds in Enterprise Networking; 2012-2019
Global Funding Trends (1/2)
35
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Enterprise Networking > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 11% # of Rounds4% $ Funding
4% # of Rounds
3% $ Funding
$360M
$746M
$979M
$600M $612M
$909M
$575M $566M
$1.4B
0
10
20
30
40
50
60
70
$0k
$200M
$400M
$600M
$800M
$1.B
$1.2B
$1.4B
$1.6B
2012 2013 2014 2015 2016 2017 2018 2019*
$ Funding Predicted $ Funding # Rounds Predicted # Rounds

10 8 21 24 19 17 10 1
27 29
23
21
28 16
20
2
13 13 15 11
15
12 9 4
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
50
7
Total # of Rounds
$5M $9M $11M $10M $13M $19M $17M $300K
$302M
$182M
$268M $305M
$343M
$125M
$161M $115M
$438M $789M $321M $296M $554M $432M $388M $245M
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
36
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Enterprise Networking; 2012-2019
Enterprise Networking > Investment Trends > Global Funding Trends
38
26
28
17
14
9
2
134
$6.1M
$12.2M
$0.0M
$10.0M
$20.0M
$30.0M
$40.0M
$50.0M
$60.0M
$70.0M
0
20
40
60
80
100
120
140
160
2013 2014 2015 2016 2017 2018 2019 YTD Total
Entrants in Funding Club Avg. Ticket Size
$6.1M $4.1M $2.4M $3.4M $4.2M $7.8M $57.5M $12.2M
$353M
$561M
$760M
$396M $441M
$765M
$479M
$398M
$1.4B
16
0
2
4
6
8
10
12
14
16
18
20
0
200000000
400000000
600000000
800000000
1E+09
1.2E+09
1.4E+09
1.6E+09
2012 2013 2014 2015 2016 2017 2018 2019 YTD
$ Funding Predicted $ Funding # of Rounds Predicted # Rounds
Mega Rounds
14 8 11 10 18 11 8 4
$746M
$360M
Total $ Invested

Enterprise Networking > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Enterprise Networking
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 6.2B 363
Plano 730M 19
Basking Ridge 400M 2
Austin 332M 24
Irvine 309M 17
Tel Aviv 256M 27
Wilmington 204M 5
Morrisville 184M 12
Cambridge 181M 14
Dallas 180M 1
Total Funding
172
52
55
86
4
10
3
2
# Rounds
$11B
$675M
$483M
$427M
$12.7M
$10.6M
$4.4M
$782k
US
Israel
Canada
Europe
Australia
India
South Africa
SEA
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.8
$1.5
$0.8 $0.6
$1.0 $1.3
$2.2
2012 2013 2014 2015 2016 2017 2018
Enterprise Networking > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Enterprise Networking; 2012-2018
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$16.5K* $10M
$20K $110M
$1M $52M
$250K $343M
$26M
$17M
$5.5M
$762K
Series C+
Series B
Series A
Seed
Stage
$15.4
$9.5
$19.5
$33.7
$24.8
$15.3 $17.8
$33.7
$65.7
$24.7 $29.6
$39.5 $43.2 $43.1
$10.2
$5.5
$8.0 $7.9 $5.9 $6.3 $7.5

Note: 180 companies with undisclosed funding amount are not included
39
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
21
91
118
31
39
No. of Companies
Enterprise Networking > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Enterprise Networking; as of Mar 2019
Distribution of companies by Funding Range
$9M
$410M
$3.2B
$2.3B
$7.5B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
50%
29%
20%
13%
40
Note: Numbers in the brackets show the count of companies
Time to raise
next round
119
183
271
462
929
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
50% 16%
(146)
15%
(141)
0%
(1)
5%
(43)
46%
(423)
59% 29%
(133)
28%
(130)
0%
(1)
4%
(20)
37%
(170)
68% 30%
(82)
27%
(74)
0%
(1)
3%
(8)
29%
(79)
65% 38%
(69)
32%
(59)
1%
(1)
3%
(5)
32%
(58)
- 50%
(59)
44%
(52)
- 2%
(2)
35%
(42)
Enterprise Networking > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Enterprise Networking
Funding Funnel
23 Months
22 Months
23 Months
Investment backedBootstrapped
41
36
192
66
48
4
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Enterprise Networking > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Enterprise Networking; Mar 2017-Mar 2019
Notable Investments in last 24 months (1/3)
LATE STAGE
$150M - Series E Mar 2019
DDoS prevention, cloud application acceleration, and
CDN
Franklin Templeton Investments
$100M - Series D Mar 2017
Accedian (2004, Montreal, $131M)
Performance Assured Networking
Bridge Growth Partners
$90M - Series F Jun 2018
TCV
$70M - Series D Sep 2018
Western Digital, Xilinx
LATE STAGE
$60M - Series D Jun 2018
Application Delivery Controller for on-premise and
cloud applications
DAG Ventures, Cisco Investments, Menlo Ventures,
Greylock Partners, Lightspeed Venture Partners
$55M - Series C Jan 2019
Greylock Partners, Singtel Innov8, U.S Venture
Partners
$50M - Series D May 2017
Sorenson Capital, Sapphire Ventures, Iconiq Capital,
Amplify Partners, August Capital, O'Reilly AlphaTech
Ventures, IDG ventures
LATE STAGE
$46M - Series C Feb 2018
network solutions
Lightspeed Venture Partners, Norwest Venture
Partners, GV, NTT Docomo Ventures, Dimension
Data, Kleiner Perkins
$43M - Series D Jan 2018
$129M)
Capital, Telstra Ventures
$40M - Series F Jul 2018
Swisscom

LATE STAGE
$38M - Series C Feb 2019
Capital Partners
$30.7M - Series D Jul 2017
$241M)
Dell Technologies, Silver Lake, Index Ventures,
Morgenthaler, MSD Capital, Redpoint Ventures,
Khosla Ventures, Intel Capital
$30.7M - Series C May 2017
G20 Ventures
$30M - Series D Nov 2017
Instart Logic (2010, Mountain View, $170M)
Software defined application delivery
ST Telemedia
LATE STAGE
$20.7M - Series D Jun 2017
$241M)
$16M - Series F Oct 2018
Auvik (2011, Kitchener, $33.5M)
Network monitoring, configuration & management
automation solution
OpenView, Celtic House Venture Partners, Rho
Canada Ventures
$1M - Series D May 2017
Creating WAN by aggregation of private connections
EARLY STAGE
$110M - Series A Feb 2019
provider for CSPs
Bessemer Venture Partners, Pitango Venture Capital
$25M - Series B Jan 2018
PacketFabric (2015, Los Angeles, $25M)
Software controlled interconnection network
services
NantWorks
$24M - Series B Oct 2018
ThinQ (2009, Raleigh, $24.5M)
Cloud-based CaaS, LCR and caller ID solutions
provider
$23M - Series B Sep 2017
NS1 (2013, New York City, $28.8M)
NS1 - Intelligent DNS & Traffic Management,
Managed DNS
GGV Capital, Salesforce Ventures, Deutsche Telekom
Capital Partners, Flybridge Capital Partners, Telstra
Ventures, Sigma Prime Ventures, Two Sigma
Ventures

EARLY STAGE
$16M - Series B Aug 2017
Forward Networks (2013, Los Altos, $28M)
Network testing platform to gain network visibility
and avoid outages
DFJ, Andreessen Horowitz, A Capital Venture
$16M - Series B Jun 2018
Mode (2014, San Francisco, $24.3M)
SD-WAN, UC and Ultra Low Latency optimizing
solution
GV, New Enterprise Associates
$15M - Series A Jul 2018
Arrcus (2015, San Jose, $15M)
Internet scale, microservices-based Network OS
Clear Ventures, General Catalyst Partners
$11.8M - Series B Aug 2017
automation solution
Canada Ventures
EARLY STAGE
$8.3M - Series A Jun 2017
solution
New Enterprise Associates
$5M - Series A Mar 2019
Perimeter 81 (2014, Tel Aviv, $5M)
VPN solution provider
Spring Ventures
$4.9M - Series A Jan 2018
Bigleaf (2012, Beaverton, $6.4M)
SD-WAN optimization and redundancy service for
network
GoAhead Ventures, Oregon Angel Fund, Portland
Seed Fund, Seattle Angel Fund
$3.1M - Series A Aug 2017
Tupl (2014, Snoqualmie, $5.6M)
Network monitoring, analytics, and virtualized
backend platform
EARLY STAGE
Series B May 2018
Intel Capital

Enterprise Networking > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$50M - Series C Jan 2018
BaishanCloud (2015, Guiyang, $87.4M)
Cloud-based data service provider
Alpha Capital Partners, Guizhou province
BaishanCloud (2015, Guiyang, $87.4M)
Cloud-based data service provider
Yunnan Shangda Big Data Industry Development,
China Galaxy Investment Management
Series C Jun 2017
Algoblu (2012, Beijing)
Virtual internet application service provider based
on SDN
Cathay Capital

Most Active Investors (VC, PE) by Stage in Enterprise Networking; Last 5 years (Mar 2014-Mar 2019)
Most Active VC & PE Investors
45
Enterprise Networking > Investment Trends > Most Active VC & PE Investors
SEED STAGE
Maxfield Capital(3 Investments)
Remot3 IT, NFWare, Yoics
1
Double M Partners (3 Investments)
Remot3 IT, Akanda, Yoics
2
TMT Investments (2 Investments)
Remot3 IT, Yoics
3
Tahoma Advisors (2 Investments)
section.io, Kentik
4
Compound (2 Investments)
Remot3 IT, Yoics
5
Alpine Meridian(2 Investments)
Remot3 IT, Yoics
6
Ironfire Ventures(2 Investments)
Remot3 IT, Yoics
7
Timark (2 Investments)
Remot3 IT, Yoics
8
Core Ventures Group
Remot3 IT
9
First Round Capital
Kentik
10
EARLY STAGE
Sequoia Capital(3 Investments)
Luminate Wireless, Barefoot Networks, Viptela
1
Menlo Ventures(3 Investments)
Covaro, Neumob, Avi Networks
2
Cisco Investments(3 Investments)
Mist Systems, LiveAction Software, 6WIND
3
GV (3 Investments)
Luminate Wireless, Mist Systems, Mode
4
New Enterprise Associates(2 Investments)
Luminate Wireless, Mode
5
Lightspeed Venture Partners (2
Investments)
SnapRoute, Mist Systems
6
Intel Capital(2 Investments)
Sedona Systems, CloudGenix
7
Mayfield(2 Investments)
CloudGenix, Versa Networks
8
Norwest Venture Partners (2 Investments)
SnapRoute, Mist Systems
9
Andreessen Horowitz (2 Investments)
Forward Networks, Barefoot Networks
10
LATE STAGE
Cisco Investments(3 Investments)
VeloCloud, Embrane, Avi Networks
1
Hermes Growth Partners(3 Investments)
VeloCloud, Barefoot Networks, Instart Logic
2
Kleiner Perkins(2 Investments)
Mist Systems, Instart Logic
3
Deutsche Telekom Capital Partners (2
Investments)
Fastly, Aryaka Networks
4
Qualcomm Ventures(2 Investments)
Affirmed Networks, CloudFlare
5
Telstra Ventures (2 Investments)
VeloCloud, Cumulus Networks
6
Northgate Capital(2 Investments)
Viptela, OpenDNS
7
TCV (2 Investments)
Cradlepoint, Silver Peak
8
Lightspeed Venture Partners
Cato Networks
9
Mohr Davidow Ventures
OpenDNS
10

Enterprise Networking > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Enterprise Networking; Last 5 years (Mar 2014-Mar 2019)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
Plug and Play Tech Center(6 Investments)
Cloudbus, Backplane, Remot3 IT
1
Techstars(4 Investments)
section.io, Teltoo, Datapath.io
2
Alchemist Accelerator(4 Investments)
Puloli, NFWare, Zycada Networks
3
Jerusalem Venture Partners(3
Investments)
Teridion, Allot, F5 Networks
4
Y Combinator(2 Investments)
Dexecure, Peer5
5
The Fabric (2 Investments)
Akanda, Appcito
6
Startupbootcamp(2 Investments)
Wimark, Domotz
7
Magma Venture Partners
Teridion
8
Wayra
NFWare
9
Portland Seed Fund
Bigleaf
10
OTHER NOTABLE INVESTORS
TriplePoint Capital(11 Investments)
Exaware, Neumob, Xsigo
1
Swisscom(4 Investments)
Rtbrick, PLUMgrid, 6connect
2
Matrix Partners(3 Investments)
NBase-Xyplex, Redstone Communications, Alteon Websystems
3
BDC(3 Investments)
Aterlo Networks, Corsa, BTI Systems
4
Singtel Innov8(3 Investments)
Cato Networks, Arista, Teridion
5
Cisco(2 Investments)
Netiverse, OpenDNS
6
Tamir Fishman(2 Investments)
Allot, Radware
7
Bpifrance(2 Investments)
InterCloud, Qosmos
8
NTT Docomo Ventures(2 Investments)
Mist Systems, UBiqube
9
Google(2 Investments)
Aterlo Networks, Barefoot Networks
10
DEBT INVESTORS
Silicon Valley Bank(5 Investments)
Webscale, Barefoot Networks, Genband
1
Eastward Capital Partners(4 Investments)
Plexxi, Edgewater Networks, Affirmed Networks
2
Idinvest Partners(2 Investments)
Molotov, OneAccess
3
TPG(2 Investments)
Network General, NetScout
4
Pinnacle Ventures
Trapeze Networks
5
The Carlyle Group
Broadcom
6
Hercules Capital
CITTIO
7
Export Development Canada
BTI Systems
8
Wellington Financial
Exinda
9
Ares
InfoVista
10

Enterprise Networking > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/10)

Enterprise Networking > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
58
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Cybersecurity
Feb 2019
IT Operations
Jan 2019
Docker Ecosystem
Jan 2019

Marketmap: Enterprise Networking Enterprise Networking > Market Details > BlueBox
60

Key Sub Sectors (1/2)
61
Key Sub Sectors in Enterprise Networking
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Network Equipment
Companies that provide Networking Equipment useful in switching, routing, and other
network functions
Force10 Networks (1999, San Jose,
Acquired)
124 72 $3B
CDN
Companies that provide Content Delivery Network (CDN) product which helps in faster
delivery of website content
Limelight (2001, Tempe, Acquired)
123 63 $2.1B
Network Management
Companies that provide software and hardware products for enterprise network
management
SolarWinds (1999, Austin, Acquired)
235 84 $1.7B
WAN
Companies that provide Wide Area Network (WAN) optimization products
Viptela (2012, San Jose, Acquired)
79 45 $1.6B
WLAN Infrastructure
Companies that provide hardware/software for wireless access of Local Area Network (LAN)
in an enterprise
Meru Networks (2002, Sunnyvale,
Acquired)
WiChorus (2005, San Jose, $42.5M)
101 52 $1.4B
Network Software
Companies that provide software for OS, routing, DNS, firmware, and other network functions
Dyn (2001, Manchester, Acquired)
$129M)
53 36 $977M
Companies that provide products for provisioning of network resources and network
functionality through a hypervisor
VMware (1998, Palo Alto, Public)
Affirmed Networks (2010, Middlesex,
$155M)
30 18 $904M
ADN
Companies that provide Application Delivery Network (ADN) products which helps in
accelerating the application delivery
Barracuda (2002, Campbell, Acquired)
29 24 $606M
Enterprise Networking > Market Details > Key Sub Sectors

Key Sub Sectors (2/2)
62
Key Sub Sectors in Enterprise Networking
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Network Controller
Companies that develop Network Controllers for processing and managing the network flow
ConteXtream (2006, Petah Tikva, Acquired)
Big Switch Networks (2010, Mountain
View, $241M)
19 8 $298M
Network Services
Companies that provide platform/software to perform network services
Virtela Communications (2000,
Greenwood Village, Acquired)
Luminate Wireless (2013, Cupertino,
$48M)
23 18 $288M
Enterprise Networking > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/5)
63
Enterprise Networking > Market Details > Detailed Sector Taxonomy

64

65

66

67

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(-)
WAN > SD-WAN
Companies that provide WAN optimization products which use Software-Defined WAN technology
(Companies covered 45 | Funded 27 | Total Funding $1.1B)
$200M
(-$240M)
11
(-3)
Silver Peak
2
(-)
CDN
Companies that provide Content Delivery Network (CDN) product which helps in faster delivery of
website content
(Companies covered 84 | Funded 44 | Total Funding $1.6B)
$251M
(+$146M)
6
(-2)
CloudFlare
3
(+3)
Network Management > SDN
Companies that provide software and hardware products for Network Management using SDN
technology
(Companies covered 13 | Funded 7 | Total Funding $135M)
$113M
(+$97.7M)
5
(+2)
DriveNets
(2015, Raanana, $110M)
4
(-)
Network Software > Routing Software
Companies that develop routing protocol software for use by wired and wireless networking vendors
$70.7M
(+$48.2M)
6
(+1)
128 Technology
(2014, Burlington, $62.7M)
5
(-)
Network Controller > SDN
Companies that develop Network Controllers for processing and managing the network flow using SDN
technology
$54.9M
(+$3.4M)
4
(-)
Big Switch Networks
(2010, Mountain View, $241M)
6
(-3)
Network Management
Companies that provide software and hardware products for enterprise network management
$31.8M
(-$55.2M)
4
(-)
Auvik
(2011, Kitchener, $33.5M)
68
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets by Funding in Enterprise Networking in last 2 years (March 2017 - February 2019)
Enterprise Networking > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
WAN > SD-WAN
Companies that provide WAN optimization products which use Software-Defined WAN technology
(Companies created 45 | Funded 27 | Total Funding $1.1B )
2
2
Network Management > SDN
Companies that provide software and hardware products for Network Management using SDN technology
(Companies created 13 | Funded 7 | Total Funding $135M )
1 DriveNets (2015, Raanana, $110M)
3
Testing Solutions > Simulators
Companies that provide simulators for testing, diagnosis, and troubleshooting of the network or equipment
in enterprise network
(Companies created 17 | Funded 6 | Total Funding $40.1M )
1 Forward Networks (2013, Los Altos, $28M)
4
Network Software > Network OS
Companies that provide Operating System to support workstations, personal computers that are connected
to a Local Area Network (LAN)
(Companies created 9 | Funded 6 | Total Funding $286M )
1 Arrcus (2015, San Jose, $15M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
69
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (March 2017 - February 2019)
Enterprise Networking > Market Details > Top Markets of Early Stage Investors

Incubators The Fabric (#1), Portland Seed Fund (#1)
Seed Vertex Ventures (#1), BRM Group (#1)
Series A/B Mayfield (#3), Sequoia Capital (#2)
Series C+ TCV (#2), Lightspeed Venture Partners (#1)
Talari Nov - 2018
Acq by Oracle
VeloCloud Nov - 2017
Acq by VMware
aptiWiz Nov - 2017
Acq by Netsurion
Viptela Aug - 2017
Acq by Cisco for $610M
InfoVista Mar - 2016
Acq by Apax Partners
Riverbed Sep - 2006
IPO'd on NASDAQ
$55M - Series C
Cato Networks (2015, Tel Aviv,
$125M)
$269k - Seed
Lavelle Networks (2015, Bangalore,
$1.9M)
$90M - Series F
$16M - Series B
Series B
$10M - Seed
Meta Networks (2016, Tel Aviv,
$10M)
Mar 2019 Cato adds Simonelli, Heiman to executive team, Telecompaper
Mar 2019
InfoVista Joins Cloud Orchestration, SD-WAN To Up App
Performance, eWEEK
Mar 2019
Infovista Enhances SD-WAN with Application Intelligence
and Cloud-Native Orchestration, RIS News
Mar 2019
Axians and Versa SD-WAN partnership supports Zen in
digitally transforming UK Enterprises, Latest Software Testing
News
Mar 2019
Infovista upgrades its Ipanema SD-WAN platform, Fierce
Telecom
Mar 2019
North American Managed SD-WAN Services Market Report
2019 Featuring AT&T, Aryaka, Bell, CenturyLink, Comcast,
Hughes Network Systems, Masergy, MetTel, TPx, Verizon &
Windstream Enterprise - ResearchAndMarkets.com, Digital
Journal
Mar 2019
EKINOPS and VMware Create Best of Breed Virtualization
Platform for Telecom Operators and Service Providers, PR
Newswire
Mar 2019
Citrix Says Hackers Stole Business Documents, Over 6TB of
Data Reportedly Accessed, New Delhi Television
Mar 2019 Hackers breach internal Citrix network, Click Lancashire
Mar 2019
Stan Black: Citrix Launches Forensic Investigation Into
Internal Network Breach, ExecutiveBiz
Mar 2019
Citrix says internal network breached, business docs stolen,
iTWire
Mar 2019 Hackers breach internal Citrix network, Reseller
Mar 2019 Hackers breach internal Citrix network, ARN
News
8
8
15
27
45
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
WAN > SD-WAN: Market Factsheet
70
Exits
Recent InvestmentsCompanies that provide WAN
optimization products which use
Software-Defined WAN
technology
NetLinkz
(2004, Sydney)
Riverbed
Citrix
Silver Peak
Cradlepoint
(2004, Boise, $155M)
Top Companies
#1 Top Markets of Investment Activity
Enterprise Networking > Market Details > Market: SD-WAN
Companies Created 45 | Funded 27 | Total Funding $1.1B
0
10
20
30
$0k
$200M
$400M
$600M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: SD-WAN

WAN > SD-WAN: Top Companies
Market: SD-WAN (1/2)
Analyst’s Pick
Other Investors
Investors
delivery
Analyst’s Pick
Northgate Capital, Moment Ventures
platform
Other Investors
Analyst’s Pick
connections
Intel Capital, Bain Capital Ventures, Mayfield,
solution
Minicorn. Stage: Series B
National Science Foundation, GV, New Enterprise
Associates, Struck Capital
InfoVista (1996, Rue, $10.5M)
Unified platform for network performance,
application performance, and SLA management.
Ares, GE Capital, Innovacom and 7 Other Investors

WAN > SD-WAN: Top Companies
Market: SD-WAN (2/2)
Analyst’s Pick
Meta Networks (2016, Tel Aviv, $10M)
Zero-trust Network as a service provider
Editor's Pick. Stage: Seed
Vertex Ventures, BRM Group
network
Minicorn. Stage: Series A
Seed Fund and 3 Other Investors
Lavelle Networks (2015, Bangalore, $1.9M)
WAN management platform
ASM Technologies, Ideaspring Capital, ShoreTel and
3 Other Investors
The Angels’ Forum, Bridgewater, Kleiner Perkins
Analyst’s Pick
SimpleWAN (2014, Phoenix)
Cloud Managed Firewall for Service Providers
Minicorn. Stage: Funded
Arizona Tech Investors
AppEx Network (2007, San Jose)
Network application performance optimization
products and service provider
Editor's Pick. Stage: Unfunded
NetFoundry (2016, Charlotte)
SD-WAN solution provider
NEXION Networks (2017, Perth)
Provider of modular data center
Nuage Networks (2012, Mountain View)
Virtualization through Software Defined
Networking
Secuscaler (2013, Hamburg)
Network security from the cloud
Analyst’s Pick
Teldat (1984, Tres Cantos)
SD-WAN solutions provider
TELoIP (2002, Mississauga)
Software Controlled Networks for Carriers and
Enterprises
OCGC

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
73
WAN > SD-WAN: Leaderboard
Better than Market Average
Market: SD-WAN
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 VeloCloud 2012
Mountain
View
Acquired $83M 5 5 - - - 5.3k - - 52 - - 390 8%
4.9 Silver Peak 2004 Santa Clara Series F $234M 6 - - - - 27k - - 44 - - 289 1%
4.8
Cato
Networks
2015 Tel Aviv Series C $125M 3 5 - - - 12.2k - - 26 - - 176 1%
4.8 Talari 2004 San Jose Acquired $45.3M 8 5 - - - 2.3k - - 21 - - 89 4%
4.7 CloudGenix 2013 Santa Clara Series B $34M 3 - - - - 2k - - 29 - - 94 5%
4.6 InfoVista 1996 Rue Acquired $10.5M 3 - - - - 2.2k - - 39 - - 79 4%
4.5 Citrix 1989
Fort
Lauderdale
Public - - 5 3 - - 142.2k 12.3M 58.1k 207 16.1k 38% 17k 14%
4.5 Mode 2014
San
Francisco
Series B $24.3M 3 4 - - 4 895 - - 4 - - 812 978%
4.4
Lavelle
Networks
2015 Bangalore Seed $1.9M 3 - - - - 5.2k - - 9 - - 1.2k 28%
4.4 Viptela 2012 San Jose Acquired $109M 2 4 - - - 41 - - 28 - - 35 583%
4.3 Bigleaf 2012 Beaverton Series A $6.4M 2 - - - - 386 - - 17 - - 65 20%
4.3 Riverbed 2002
San
Francisco
Acquired $68.4M 5 - - - - 27.7k 300 - 87 - - -103 -
4.2 Cradlepoint 2004 Boise Series C $155M 7 - 4 - - 3.6k 8k 42 32 1 2% 165 5%
4.1
Aryaka
Networks
2009 Milpitas Series D $125M 7 5 - - - 14.1k - - 40 - - -181 -1%

Incubators Y Combinator (#1), Techstars (#1)
Seed First Round Capital (#1), Walden International (#1)
Series A/B Cisco (#3), Sequoia Capital (#2)
Series C+ Trinity Ventures (#1), Menlo Ventures (#1)
Molotov Feb - 2019
Acq by Altice
Akamai Oct - 1999
IPO'd on NASDAQ
PacketZoom Oct - 2018
Acq by Roblox
CDNetworks Feb - 2017
Acq by ChinaNetCenter for $187M
Highwinds Feb - 2017
Acq by Stackpath
Level 3 Communications
Oct - 2011
IPO'd on NYSE
$150M - Series E
CloudFlare (2009, San Francisco,
$332M)
$40M - Series F
$5.5M - Series A
section.io (2012, New York City, $7M)
$762k - Seed
Dexecure (2015, Singapore, $782k)
$5M - Series A
PacketZoom (2013, San Mateo,
$11.2M)
$50M - Series D
Mar 2019
Mar 2019
Akamai To Launch New Scrubbing Centre in Melbourne,
ChannelNews
Mar 2019
Global Cloud Content Delivery Network Market to 2025:
Akamai Technologies, Limelight Networks, CenturyLink,
CDNetworks, Google, Amazon Web Services, Digital Journal
Mar 2019
TVU increases traction for remote production solutions in
the Italian market through adding Video Progetti to partner
network, Broadcast Beat
Mar 2019
Hackers Target Retailers with Credential Abuse Attacks, says
Akamai, The Fast Mode
Mar 2019
Cloud services provider Fastly taps bank for IPO: sources,
Reuters
Mar 2019
Personalized Media Communications Sues Google, Akamai,
and Netflix for Infringing Its Streaming Media Patents,
Business Wire
Mar 2019 Cloudflare Secures $150 Million, Silicon Valley Daily
Mar 2019 Limelight, Genvid collab on streaming platform, Seeking Alpha
Mar 2019
INAP Reports Fourth Quarter 2018 Financial Results,
Citybizlist
Mar 2019
Gaming Services Company Fragnet Selects INAP To Deliver
Bare Metal Servers, HostingJournalist
Mar 2019
InSync Healthcare Solutions and INAP Announce Multi-Year
Deal for Custom Managed Cloud Services, GlobeNewswire
Mar 2019
Limelight plans to take up first 100GE port at JEDIX,
Telecompaper
News
33
14
34
44
84
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
CDN: Market Factsheet
74
Exits
Recent InvestmentsCompanies that provide Content
Delivery Network (CDN) product
which helps in faster delivery of
website content
Broadmedia
(1996, Tokyo)
Level 3 Communications
(1998, Broomfield)
Limelight
(2001, Tempe, $130M)
Akamai
(1998, Cambridge)
CloudFlare
Top Companies
Enterprise Networking > Market Details > Market: CDN
Companies Created 84 | Funded 44 | Total Funding $1.6B
0
5
10
15
$0k
$100M
$200M
2014 2015 2016 2017 2018
Market: CDN

CDN: Top Companies
Market: CDN
Analyst’s Pick
and CDN
Sagemount, Kaplan Group Investments, Partners
For Growth
Analyst’s Pick
WAF
Investors
OnApp (2010, London, $20M)
Cloud software platform for hosting providers
LDC, KickAss Capital
Investors
Analyst’s Pick
provider

76
CDN: Leaderboard
Market: CDN
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 CloudFlare 2009
San
Francisco
Series E $332M 5 5 5 - - 77.8k 3M 7.7k 89 - - 5.6k 8%
4.5 Fastly 2011
San
Francisco
Series F $219M 7 - - - - 9k - - 26 - - 888 11%
4.1 Molotov 2015 Paris Acquired $38.3M 2 4 - - - 14.9k - - 25 - - 274 2%
3.8
TVU
Networks
2005
Mountain
View
Series B $5.1M 3 - 4 - - 2.4k 30k 108 14 7 7% 160 7%
3.7 Velocix 2002 Cambridge Acquired $79M 5 - - - - 119 - - 2 - - 29 32%
3.6 Limelight 2001 Tempe Acquired $130M 3 5 - - - - - - 80 - - - -
3.5 CDNetworks 2000 Campbell Acquired $96.5M 1 4 2 - - 2.7k 3.8M 6.2k 5 315 5% -27 -1%
3.4 OnApp 2010 London Series A $20M 2 3 4 - - 8k 3k 36 7 3 9% 50 1%
3.3 Highwinds 2002
Winter
Park
Acquired $90M 5 - - - - 5.1k - - 4 - - -74 -1%
3.3
Ortiva
Wireless
2004 La Jolla Acquired $27.4M 7 - - - - - - - 20 - - - -
3.2
Speedera
Networks
1999 Santa Clara Acquired $26.5M 2 - - - - - - - 11 - - - -
3.1 Dexecure 2015 Singapore Seed $782k 2 - - - - 133 - - 1 - - 8 6%
3.1 INAP 1996 Atlanta Series A $9M 2 - - - 4 - - - 38 - - - -
3.0 PacketZoom 2013 San Mateo Acquired $11.2M 3 - - - - 740 - - 15 - - -63 -8%

Incubators
Seed Granatus Ventures (#1), Bulldog Innovation Group (#1)
Series A/B Bessemer Venture Partners (#2), Intel Capital (#1)
Series C+
Cyan May - 2013
IPO'd on NYSE
$110M - Series A
$1.1M - Seed
Trinity Mobile Networks (2014,
New Haven, $1.2M)
Seed
XCloud Networks (2015, Sunnyvale)
Seed
$1.5M - Seed
Veracity (2014, Aliso Viejo, $2.6M)
$1.1M - Seed
Veracity (2014, Aliso Viejo, $2.6M)
$100k - Seed
New Haven, $1.2M)
$13.6M - Series B
Sedona Systems (2014, Ra'anana,
$19.6M)
$100k - Seed
New Haven, $1.2M)
$1.5M - Seed
Vnitro (2012, San Ramon, $1.5M)
Mar 2019
Vodafone Selects Sedona NetFusion as Hierarchical
Controller for Software-defined Transport Network, The Fast
Mode
Feb 2019
Vodafone Deal a 'Huge Step' for Sedona Systems, Light
Reading
Feb 2019
Vodafone and Sedona to Demonstrate Innovative SDN-
controlled Transport Service Provisioning and Predictive
Fault Avoidance, PR Newswire
Feb 2019
This Founder Sold A Startup To Cisco For $475 Million. Now
He's Raised $110 Million To Take It On., Forbes
Jan 2019
Veracity Industrial Networks and Schweitzer Engineering
Laboratories Announce Partnership, GlobeNewswire
Oct 2018
Anuta Networks to Showcase Network Analytics and Closed-
Loop Automation at ONUG, PRWeb
Mar 2018
Sedona Systems Announces Hierarchical Network Controller,
ReadITQuik
Nov 2017
Anuta Networks Global Expansion Kicks off in Asia, Business
Wire
Oct 2017
Veracity Industrial Networks Releases
Innovative Online Demo
, Marketwired
Oct 2017
Dave Whitehead of Schweitzer Engineering Laboratories
Joins Veracity Industrial Networks Board , Sector Publishing
Intelligence
Oct 2017
Doug Lawson, CEO of ThinkIQ Joins Veracity Industrial
Networks Board, 4-Traders
News
1
1
2
7
13
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Network Management > SDN: Market Factsheet
77
Exits
Recent InvestmentsCompanies that provide software
and hardware products for
Network Management using SDN
technology
Cyan
(2006, Petaluma)
DriveNets
(2015, Raanana, $110M)
Sedona Systems
(2014, Ra'anana, $19.6M)
Veracity
(2014, Aliso Viejo, $2.6M)
Vnitro
(2012, San Ramon, $1.5M)
Top Companies
Enterprise Networking > Market Details > Market: SDN
Companies Created 13 | Funded 7 | Total Funding $135M
0
5
10
$0k
$5M
$10M
$15M
2014 2015 2016 2017 2018
Market: SDN

Network Management > SDN: Top Companies
Market: SDN
Analyst’s Pick
provider for CSPs
Capital
Sedona Systems (2014, Ra'anana, $19.6M)
Real Time Network Layer Monitoring
Intel Capital, Bessemer Venture Partners, Scale Up
Venture Capital and 2 Other Investors
Intent-based network management platform
SmartGateVC, Granatus Ventures

79
Network Management > SDN: Leaderboard
Market: SDN
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Veracity 2014 Aliso Viejo Seed $2.6M 2 - - - 5 125 - - 6 - - 17 16%
4.9 DriveNets 2015 Raanana Series A $110M 1 5 - - 4 26 - - 1 - - - -
4.3
Sedona
Systems
2014 Ra'anana Series B $19.6M 2 4 - - - - - - 11 - - - -
3.5
XCloud
Networks
2015 Sunnyvale Seed - 2 3 - - 4 73 - - 1 - - 19 35%
2.7
Anuta
Networks
2010 Milpitas Unfunded - - - - - - 678 - - 6 - - 11 2%
2.5
Trinity
Mobile
Networks
2014 New Haven Seed $1.2M 3 - - - - - - - - - - - -
2.4 Vnitro 2012 San Ramon Seed $1.5M 1 - - - - 2 - - - - - - -
1.6
Svarog
Technology
Group
2014
San
Francisco
Unfunded - - - - - - 7 - - - - - 3 75%
1.1 Cyan 2006 Petaluma Acquired - - - - - - - - - - - - - -
0.9 YumaWorks 2016 Simi Valley Unfunded - - - - - - 158 - - - - - -3 -2%
0.4
ECODE
NETWORKS
2012 London Unfunded - - - - - - 111 - - - - - - -
0.0 NEC-SDN 2015 Hilversum Unfunded - - - - - 3 - - - - - - - -
0.0 HyperNova 2015 Santa Clara Unfunded - - - - - 3 - - - - - - - -

Enterprise Networking > Market Details > Market: Routing Software
Market: Routing Software

Market: SDN

Enterprise Networking > Market Details > Market: Network Management
Market: Network Management

#3 Top Markets of Early Stage Investors
Enterprise Networking > Market Details > Market: Simulators
Companies Created 17 | Funded 6 | Total Funding $40.1M
Market: Simulators

Market: Simulators

Enterprise Networking > Market Details > Market: Network OS
Market: Network OS

Market: Network OS

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
95
Notable Acquisitions
Top Acquirers
Acqui-hires

Public companies (1/8)
97
Performance indicators of public companies in Enterprise Networking
IPO Date Company
IPO
Mcap
Exchange
Ticker
Oct 2018
SolarWinds (1999, Austin)
$4.6B NYSE:SWI
Jan 2018
Avaya (2000, Basking Ridge)
NYSE:AVYA
Jun 2017
$58.9M LON:ENET
Jan 2017
Napatech (2003, Soborg)
Network acceleration management and security applications
FRA:NAT
Dec 2015
Megaport (2013, Brisbane)
$63M ASX:MP1
Oct 2015
Hewlett Packard Enterprise (1939, Palo Alto)
NYSE:HPE
Dec 2014
TPE:6142
Jun 2014
Xunlei (2003, Shanghai)
Content distribution and delivery network
$766M NASDAQ:XNET
Jun 2014
$2.7B NYSE:ANET
Mar 2014
Aerohive (2006, Sunnyvale)
$436M NYSE:HIVE
Enterprise Networking > Exit Outlook > Public Companies

98
IPO Date Company
IPO
Mcap
Exchange
Ticker
Mar 2014
A10 Networks (2004, San Jose)
NYSE:ATEN
Nov 2013
Barracuda (2002, Campbell)
Network firewall solution for enterprise web & email
$900M NYSE:CUDA
Aug 2013
Provider of Application Delivery Controllers (ADC) and Cloud
security Switches
$48.1M KOSDAQ:170790
Jul 2013
TYO:3858
Jul 2013
TYO:4347
Jun 2013
Gigamon (2004, Milpitas)
$560M NYSE:GIMO
May 2013
$490M NYSE:CYNI
Nov 2012
Ruckus Wireless (2004, Sunnyvale)
$1.1B NYSE:RKUS
Apr 2012
Infoblox (1999, Santa Clara)
DNS Security & network infrastructure control solutions
$704M NYSE:BLOX
Oct 2011
Communication, telecom & DDoS mitigation service provider
NYSE:LVLT

99
IPO Date Company
IPO
Mcap
Exchange
Ticker
Oct 2011
$1.3B NASDAQ:UBNT
May 2011
High-performance server/appliances networking solutions
$7.6M
EURONEXT:MLS
IL
Feb 2011
Knix (2000, Seoul)
Carrier-neutral internet infrastructure provider in South Korea
$34.8M KOSDAQ:93320
Jan 2011
SD-WAN software for devices to connect anywhere on the network
$41.4M ASX:NET
Oct 2010
ChinaCache (1998, Beijing)
China focused CDN service provider
$323M NASDAQ:CCIH
Mar 2010
Meru Networks (2002, Sunnyvale)
$223M NASDAQ:MERU
Aug 2007
VMware (1998, Palo Alto)
$10.9B NYSE:VMW
Jul 2007
Voltaire (1997, Herzliya)
$184M NASDAQ:VOLT
Jun 2007
Limelight (2001, Tempe)
$1.2B NASDAQ:LLNW
Mar 2007
Aruba Networks (2002, Sunnyvale)
Enterprise networking, security and mobile engagement solutions
$827M NASDAQ:ARUN

100
IPO Date Company
IPO
Mcap
Exchange
Ticker
Feb 2007
Mellanox Technologies (1999, Yokneam Illit)
Ethernet and InfiniBand solutions for servers and storage
$491M NASDAQ:MLNX
Nov 2006
Provider of virtualization solution, security and network analytics
NASDAQ:ALLT
Sep 2006
Riverbed (2002, San Francisco)
WAN Optimization and application performance platform
$631M NASDAQ:RVBD
Mar 2005
Major semiconductor company focused on networking, computer
peripherals and multimedia ICs
TPE:2379
Sep 2004
DrayTek (1997, Hsinchu)
TPE:6216
Sep 2003
Planet Technology Corporation (1993, Taipei)
TPE:6263
Aug 2003
NETGEAR (1996, San Jose)
$381M NASDAQ:NTGR
Dec 2001
Netscreen (1998, Sunnyvale)
$1.2B NASDAQ:NSCN
Oct 2000
Application & network security and performance monitoring &
testing
$688M NASDAQ:XXIA

101
IPO Date Company
IPO
Mcap
Exchange
Ticker
Aug 2000
$226M NASDAQ:OPNT
Jun 2000
Test and service assurance solutions for network operators and
equipment manufacturers
$1.2B NASDAQ:EXFO
Mar 2000
Arrowpoint Communications (1997, Westford)
$1.2B NASDAQ:ARPT
Oct 1999
$2.4B NASDAQ:AKAM
Oct 1999
NASDAQ:RDWR
Sep 1999
$174M NASDAQ:NTSL
Sep 1999
$727M ATON
Aug 1999
NetScout (1985, Westford)
$281M NASDAQ:NTCT
Jul 1999
$392M NASDAQ:PKTR
Jun 1999
$1.7B NYSE:JNPR

102
IPO Date Company
IPO
Mcap
Exchange
Ticker
Jun 1999
$179M NASDAQ:FFIV
May 1999
Brocade Communication Systems (1995, San Jose)
NASDAQ:BRCD
May 1999
AUDC
Apr 1999
$813M NASDAQ:EXTR
Jun 1998
AIRO
Apr 1998
Fabless semiconductor company products for wireless and
broadband communication
$1B NASDAQ:BRCM
Feb 1998
Micromuse (1989, San Francisco)
$179M NASDAQ:MUSE
Feb 1997
$2.1B NYSE:CIEN
Dec 1995
NASDAQ:CTXS
Aug 1994
NASDAQ:ADTN

103
IPO Date Company
IPO
Mcap
Exchange
Ticker
Feb 1990
Cisco (1984, San Francisco)
NASDAQ:CSCO
Dec 1983
NEC (1953, Bunkyo)
TYO:1973
Jul 1955
Test and Measurement for Applciations, Infrastructure
LON:SPT
Chipcom (1989, Southborough)
Multifunction chassis-based hub and switching platform provider
Blue Planet (2006, Hanover)
Enea (1968, Kista)
Open source NFV platform and embedded software solutions
provider
STO:ENEA
Network solutions provider for home and enterprises
Dolphin Interconnect Solutions (1992, Woodsville)

104
IPO Date Company
IPO
Mcap
Exchange
Ticker
Developer of analog and digital semiconductor products
Superclick Networks (1997, Montreal)
Network Management solutions for multi room institutions
ZTE (1985, Shenzhen)
Telecom equipment and software solutions provider

Notable Acquisitions (1/11)
105
Notable Acquisitions in Enterprise Networking
Enterprise Networking > Exit Outlook > Notable Acquisitions
2019 YTD
Acquirer: NVIDIA Deal: $6.9B
$97.7M)
storage
Acquirer: Juniper Networks Deal: $405M
network solutions
Acquirer: Altice
2018
Acquirer: Airspan
Mimosa (2012, Campbell, $38M)
Wireless broadband equipment and network &
device management solutions provider
Acquirer: Oracle
connections
Acquirer: Verimatrix
Acquirer: Arista
Mojo Networks (2003, Mountain View, $69.4M)
Cloud Managed WiFi Access.
Acquirer: Ribbon Deal: $110M
solutions provider
2018
Acquirer: Hewlett Packard Enterprise
Acquirer: EQT Ventures
Acquirer: Citrix
Cedexis (2009, Portland, $33.3M)
Internet performance and traffic monitoring
platform

106
2017
Acquirer: ARRIS Deal: $800M
Acquirer: Thoma Bravo Deal: $1.6B
email
Acquirer: Broadcom Deal: $5.9B
San Jose)
Acquirer: VMware
Acquirer: Elliott Management
Deal: $1.6B
2017
Acquirer: Cisco Deal: $610M
Acquirer: Riverbed
Xirrus (2004, Thousand Oaks, $121M)
wireless networking products
Acquirer: Madison Dearborn Partners
Deal: $400M
Acquirer: ChinaNetCenter Deal: $187M
WAF
Acquirer: Stackpath
Highwinds (2002, Winter Park, $90M)
Content delivery, network and cloud-based IP
services
2016
Acquirer: VMware
PLUMgrid (2011, Sunnyvale, $45.9M)
Network virtualization for SDN
Acquirer: Oracle
Dyn (2001, Manchester, $100M)
DNS and Network Monitoring Solutions
Acquirer: Vista Equity Partners
Deal: $1.6B
solutions
Acquirer: CenturyLink Deal: $34B
provider
Acquirer: Enea Deal: $57.3M
Qosmos (2000, Paris, $42.7M)
Deep packet inspection & NFV solutions provider

107
2016
Acquirer: Samsung Deal: $170M
Acquirer: Nokia
Nakina Systems (2002, Kanata, $36.1M)
Network Security and Orchestration solutions
Acquirer: Juniper Networks
BTI Systems (2000, Ottawa, $62.4M)
Packet Optical Networking Technology
Acquirer: ADVA Optical Networking
Deal: $35M
Overture (2000, Morrisville, $125M)
SDN NFV Network Orchestration
2015
Acquirer: Cradlepoint
Pertino (2011, Los Gatos, $28.9M)
VPN to the power of the cloud
Acquirer: Golden Glass Deal: $469M
Acquirer: Avago Tech Deal: $17B
Acquirer: Hewlett-Packard
ConteXtream (2006, Petah Tikva, $23.8M)
Carrier grade SDN solution
2015
Acquirer: Fortinet Deal: $44M
Acquirer: Ciena Deal: $488M
Acquirer: Ciena Deal: $400M
platform
Acquirer: Cisco
Embrane (2009, Santa Clara, $41M)
Platform for virtual network services

108
2015
Acquirer: Hewlett Packard Enterprise
Deal: $3B
2014
Acquirer: Allied Telesis
Extricom (2002, Tel Aviv, $23M)
WLAN systems for Video, voice and Data Services
Networking Software
2013
Acquirer: Verizon Deal: $350M
$74M)
CDN platform
Acquirer: Ixia Deal: $190M
provider
Acquirer: NTT communications
Deal: $525M
Village, $105M)
Acquirer: Lone Rock Technology Group
Packet Design (2003, Austin, $47.1M)
IP network route analytics, monitoring, and
planning solutions provider

109
2013
Acquirer: Array Networks
Certeon (2003, Burlington, $25M)
virtual appliance software for WAN Optimization
Acquirer: Radware
Strangeloop Networks (2006, Vancouver,
$21.5M)
Front-End Application delivery acceleration
Acquirer: Belkin
2012
Acquirer: Atmel
Ozmo Devices (2004, Palo Alto, $40M)
WiFi Communication Technology Developer for
home area network
Controller for SDN
Acquirer: Emulex Deal: $157M
Acquirer: Cisco Deal: $1.2B
Cloud Networking
2012
Acquirer: Akamai
Verivue (2006, Westford, $85M)
Cable backed CDN Solution provider
Acquirer: Brocade Communication
Systems
Vyatta (2005, Belmont, $40.6M)
Network virtualization software
Acquirer: Riverbed Deal: $1B
Acquirer: Clearlake Capital
NetMotion Wireless (2001, Seattle, $25.9M)
Mobile VPN for security & network performance
management
Acquirer: VMware Deal: $1.3B

110
2012
Acquirer: Ixia Deal: $145M
Acquirer: Allot
Ortiva Wireless (2004, La Jolla, $27.4M)
Mobile video/content optimization solutions
provider
2011
Acquirer: Riverbed Deal: $10M
Expand Networks (1998, Tel Aviv, $70M)
WAN Optimization Solutions
Acquirer: Akamai Deal: $268M
Acquirer: Vector Capital
provider
Acquirer: F5 Networks Deal: $5.6M
Cresendo Networks (2002, Tel Aviv, $45M)
Application delivery and load balancing
Acquirer: ADTRAN
Bluesocket (1999, Burlington, $27M)
Virtual WLAN service provider
Acquirer: Dell
Force10 Networks (1999, San Jose, $469M)
Ethernet Switches for data centers and enterprises
2011

111
2010
Acquirer: Mellanox Technologies
Deal: $208M
Blackwave (2006, Acton, $29M)
Video caching and delivery acceleration
Acquirer: IBM Deal: $400M
Clara, $10M)
Ankeena (2008, Santa Clara, $31.8M)
Media Infrastructure Solutions
2010
Acquirer: IBM
Intelliden (2000, Menlo Park, $105M)
Network Automation Software
2009
Acquirer: Hewlett-Packard Deal: $2.7B
solutions
Acquirer: Fortinet
Woven Systems (2003, Santa Clara, $30M)
Ethernet Switches
Acquirer: Alcatel-Lucent
Velocix (2002, Cambridge, $79M)
CDN solutions
Acquirer: Qualcomm
Digital Fountain (1998, Fremont, $60M)
Digital media delivery software providers
Acquirer: CDNetworks
Panther Express (2005, New York City, $21.8M)
Content delivery solutions provider
Mazu Networks (2000, Cambridge, $42M)
Network behavior analytics solution

112
Before 2008
Acquirer: ahaholdings
StrixSystems (2002, Newbury Park, $34M)
Wireless Mesh Networking
Acquirer: Genband
NextPoint Networks (1998, Gaithersburg,
$35M)
IP based network integration solutions
Acquirer: Hewlett-Packard
Colubris Networks (2000, Waltham, $50M)
WLAN solution provider
Acquirer: Brocade Communication
Systems Deal: $3B
Acquirer: U4EA Technologies
NextHop Technologies (2000, Mountain View,
$34.3M)
Routing Protocol for L2-L3 routing
Before 2008
Acquirer: Blue Coat Deal: $268M
Acquirer: EXFO Deal: $28.5M
Brix Networks (1999, Boston, $61.5M)
IP Application and Network Performance Testing
Acquirer: EMC
Voyence (2000, Richardson, $42M)
Network configuration manager
Acquirer: NetScout Deal: $206M
Acquirer: SonicWALL Deal: $25M
Aventail Corporation (1996, Seattle, $55M)
SSL VPN remote access solution
Acquirer: Silver Lake Deal: $8.2B
Before 2008
Acquirer: Broadcom Deal: $62M
LVL7 Systems (1999, Morrisville, $59.3M)
Enterprise Wired and Wireless Systems
Acquirer: Internap Deal: $248M
Acquirer: Packeteer Deal: $78M
Tacit Networks (2000, South Plainfield, $36.2M)
WAN optimization solutions for branch office and
remote users
Acquirer: Access Co
IP Infusion (1999, Sunnyvale, $20.4M)
Network OS, Management and software solutions

113
Before 2008
Acquirer: The Gores Group Deal: $386M
provider
Acquirer: ADVA Optical Networking
Deal: $4M
Covaro (2003, Corunna, $42M)
Intelligent ethernet demarcation products for WAN
applications
Acquirer: Nortel Deal: $100M
Tasman Networks (1997, San Jose, $93M)
Routers and internet access solutions
Acquirer: IBM Deal: $865M
Acquirer: EarthLink Deal: $144M
$103M)
Before 2008
Acquirer: Citrix Deal: $300M
Francisco, $67M)
Acquirer: Juniper Networks Deal: $67.5M
Kagoor Networks (2000, San Mateo, $40M)
Session border control (SBC) technology
Acquirer: Akamai Deal: $130M
$26.5M)
Before 2008
Jose, $22M)
Acquirer: Motorola Mobility
Quantum Bridge Communications (1998,
Andover, $124M)
FTTP solutions provider
Acquirer: Juniper Networks Deal: $4B
Acquirer: EMC Deal: $635M

114
Before 2008
Acquirer: F5 Networks Deal: $25M
uRoam (1998, Sunnyvale, $37.9M)
SSL VPN based remote enterprise application access
Acquirer: Certeon
Infolibria (1997, Waltham, $47.5M)
Hardware and Software for CDN providers
Acquirer: Intel Deal: $748M
Acquirer: Inktomi Deal: $1.3B
Acquirer: Broadcom Deal: $1.2B
$28M)
Acquirer: Deal: $7.8B
Before 2008
Netiverse (1999, San Bernardino)
Acquirer: Cisco Deal: $5.7B
Westford, $15.8M)
Acquirer: Nortel Networks Deal: $9.1B
Acquirer: Nokia Deal: $120M
Before 2008
Acquirer: 3Com Deal: $775M
platform provider

115
Others
Acquirer:
Acquirer: Agilent Deal: $44M

Most Active Acquirers
116
Enterprise Networking > Exit Outlook > Most Active Acquirers

Acqui-hires
117
List of Acqui-hires in Enterprise Networking
Excludes all details for Chinese companies
Date Target
Jul-14 PowerCloud Systems Acq by Comcast
Enterprise Networking > Exit Outlook > Acqui-hires
View all 1 Acqui-hired companies on Tracxn Platform

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
118
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

Enterprise Networking > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in Enterprise Networking; Last 5 years (Mar 2014 - Feb 2019)
Index of Most Active VC & PE Investors
SEED STAGE
Double M Partners (3 Investments)
Maxfield Capital (3 Investments)
Timark (2 Investments)
TMT Investments (2 Investments)
Tahoma Advisors (2 Investments)
Compound (2 Investments)
Alpine Meridian (2 Investments)
Ironfire Ventures (2 Investments)
Vertex Ventures
First Round Capital
Data Collective
Walden International
BRM Group
Almaz Capital
Core Ventures Group
EARLY STAGE
Sequoia Capital (3 Investments)
Menlo Ventures (3 Investments)
Cisco Investments (3 Investments)
GV (3 Investments)
New Enterprise Associates (2 Investments)
Lightspeed Venture Partners (2 Investments)
Intel Capital (2 Investments)
Mayfield (2 Investments)
Norwest Venture Partners (2 Investments)
Andreessen Horowitz (2 Investments)
Bessemer Venture Partners (2 Investments)
Verizon Ventures (2 Investments)
Founder Collective (2 Investments)
Accel Partners
Greylock Partners
LATE STAGE
Cisco Investments (3 Investments)
Hermes Growth Partners (3 Investments)
Kleiner Perkins (2 Investments)
Northgate Capital (2 Investments)
Deutsche Telekom Capital Partners (2
Investments)
Qualcomm Ventures (2 Investments)
Telstra Ventures (2 Investments)
TCV (2 Investments)
Wing Venture Capital
Battery Ventures
Presidio Ventures
DAG Ventures
Silver Lake

Double M Partners
121
Portfolio in Enterprise Networking | Exits | Funds Link | Website | LinkedIn | Twitter
Enterprise Networking > Investors > Double M Partners
People
Investments
[Soonicorn] Scopely (2011, Culver City, $260M, Series C)
Mobile game developer and publisher focusing on casual games
[Soonicorn] ChowNow (2010, Santa Monica, $42.8M, Series B)
Mobile and Facebook ordering platform for restaurants
[Minicorn] Tradesy (2012, Santa Monica, $77.6M, Series C)
P2P online marketplace for designer clothing items
[Minicorn] HONK Technologies (2014, Santa Monica, $31.8M,
Series B)
On demand app for car repair and towing services
[Minicorn] inVia Robotics (2015, Los Angeles, $29M, Series B)
Robotic automation solutions for e-commerce fulfilment
[Minicorn] AdStage (2012, San Francisco, $13.8M, Series A)
Closed loop reporting and automation platform for advertisers
[Minicorn] EV Connect (2009, El Segundo, $12M, Series A)
Enterprise EV charging software and solutions
[Minicorn] hiQ Labs (2012, San Francisco, $11.4M, Series B)
Data science for HR analytics
[Minicorn] Reaction Commerce (2013, Santa Monica, $11.2M,
Series A)
Open Source Ecommerce Solutions for SMBs
[Minicorn] Retention Science (2012, Santa Monica, $9.8M,
Series B)
Retention marketing Automation platform
[Minicorn] PingThings (2014, El Segundo, $2.4M, Seed)
Predictive analytics for managing assets in utility industry
[Editor's Pick] Emailage (2012, Chandler, $53.8M, Series C)
Cloud based email risk assessment solution to prevent fraud.
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Mark Mullen
Founder
Geographical Spread Stage of Entry
Oct 2014 Weaved Raises $2.3M in Seed Financing, VC News Daily
Jun 2014
TMT Investments injects $250,000 into 'Internet of
everything' startup Weaved, East-West Digital News
Dec 2012
Yoics, Cloud Service Provider for Devices, Closes $1
Million in Funding Led by CrunchFund , PRWeb
Dec 2007
CDNs Are Big Business, EdgeCast Get $6 Million,
TechCrunch
EdgeCast Networks
(2006, Santa Monica, $74M)
Acq by Verizon - Dec 2013
2
1
2013 2014 2015 2016 2017 2018
Follow On New Investments
1
-
-
-
3
Undisclosed
Series C+
Series B
Series A
Seed4
-
-
-
-
US

Timark
122
Enterprise Networking > Investors > Timark
Investments
[Unicorn] DocuSign (2003, San Francisco, $522M, Series F)
Digital Transaction Management Tool
[Soonicorn] MobileIron (2007, Mountain View, $148M, Public)
MDM & enterprise mobile solution
[Soonicorn] Ambiq Micro (2010, Austin, $104M, Series D)
Low power energy microcontroller units for electronics industry
[Soonicorn] Igneous Systems (2013, Seattle, $70M, Series C)
Backup and archiving solutions
[Soonicorn] 4Info (2004, San Mateo, $64.3M, Series F)
Mobile Advertising and Ad Targeting platform
[Soonicorn] Tempered Networks (2014, Seattle, $39M, Series
B)
Secure Connectivity for Critical Infrastructure
[Soonicorn] Cohere Technologies (2013, Santa Clara, $35M,
Series C)
OTFS based wireless connectivity
[Minicorn] Crowdfunder (2012, Los Angeles, $6.5M, Series A)
Business crowdfunding platform
[Minicorn] Wevorce (2012, Bothell, $5.6M, Series A)
Legal forms
Top Exits Recent News on Fund & Portfolio
Mar 2019
Infoblox Now Supports Google Cloud and Single Sign-On
in Latest Version of NIOS, PR Newswire
Feb 2019
Infoblox hosts ‘security and data centre’ tour across
EMEA, Intelligent CIO
Dec 2018
Two Thirds of Retailers Increase Cybersecurity Measures
During the Holiday Season to Defend Against the Rise in
Social Engineering Attacks, PR Newswire
Nov 2018
Infoblox To Push Partner Security Sales Through Pilot
Rebate Program, CRN
Oct 2018
Infoblox Expands Global Channel Partner Program and
Enhances Partner Incentives, PR Newswire
Oct 2018
“Security, reliability, automation need intelligent
network”: Infoblox, tahawultech.com
Oct 2018
Infoblox Reflects on Journey to Building an Industry
Leading Cloud-Managed Network Services Company, PR
Newswire
Oct 2018
Infoblox to showcase next-level network security at
GITEX, Intelligent CIO
Oct 2018
Infoblox offers managed service providers new core
network products, Telecompaper
Tasman Networks
(1997, San Jose, $93M)
Acq by Nortel - Dec 2005
Digital Fountain
(1998, Fremont, $60M)
Acq by Qualcomm - Feb 2009
Ozmo Devices
(2004, Palo Alto, $40M)
Aerohive
IPO - Mar 2014
Infoblox
Acq by Vista Equity Partners -
Nov 2016
Netscreen
Acq by Juniper Networks - Feb
2004
2
2013 2014 2015 2016 2017 2018
6
-
-
-
2
Undisclosed
Series C+
Series B
Series A
Seed8
-
-
-
-
US

Tahoma Advisors
123
Enterprise Networking > Investors > Tahoma Advisors
People
Investments
[Editor's Pick] Kentik (2014, San Francisco, $38.2M, Series B)
Network visibility and Analytics
Enterprise Networking Notable Portfolio
[Soonicorn] Ambiq Micro (2010, Austin, $104M, Series D)
Low power energy microcontroller units for electronics industry
Top Exits
John Ives
Founder
Mar 2019
Kentik Recognized with Frost & Sullivan 2019 Product
Award for Cloud-based Network Operations, PR Newswire
Mar 2019
Kentik True Origin™ Gives Broadband and Mobile
Providers Fast Insights into Revenue, Cost, Competition,
Subscriber Behavior, PR Newswire
Jan 2019
Kentik Releases Report on 'AWS Cloud Adoption,
Visibility & Management', PR Newswire
Jan 2019 Section.io Lands Hotjar With It’s PaaS Offering, Bizety
Dec 2018
Software and Cloud Networking Veteran Alan Cohen Joins
Kentik's Board of Directors, PR Newswire
Dec 2018
DICOS and Kentik Partner to Bring Modern Network
Analytics to More Enterprises and Service Providers
Across Europe, PR Newswire
Nov 2018
Kentik Expands Analytics for Cloud with Extended
Visibility into Amazon Web Services, PR Newswire
Oct 2018
Kentik Expands into Europe to Address Growing Demand
for Modern Network Analytics, PR Newswire
Sep 2018
Kentik Provides Tata Communications with Enhanced
Network Visibility, PR Newswire
LineRate
(2008, Louisville, $6.4M)
Acq by F5 Networks - Feb 2013
11 1
2013 2014 2015 2016 2017 2018
1
-
-
-
2
Undisclosed
Series C+
Series B
Series A
Seed3
-
-
-
-
US

Vertex Ventures
124
Enterprise Networking > Investors > Vertex Ventures

First Round Capital
125
Enterprise Networking > Investors > First Round Capital

Data Collective
126
Enterprise Networking > Investors > Data Collective

Walden International
127
Enterprise Networking > Investors > Walden International

BRM Group
128
Enterprise Networking > Investors > BRM Group

Almaz Capital
129
Enterprise Networking > Investors > Almaz Capital

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
130
Seed Stage
Early Stage
Late Stage

Sequoia Capital
131
Enterprise Networking > Investors > Sequoia Capital

Menlo Ventures
132
Enterprise Networking > Investors > Menlo Ventures

Cisco Investments
133
Enterprise Networking > Investors > Cisco Investments

GV
134
Enterprise Networking > Investors > GV

New Enterprise Associates
135
Enterprise Networking > Investors > New Enterprise Associates

136
Enterprise Networking > Investors > Lightspeed Venture Partners

Intel Capital
137
Enterprise Networking > Investors > Intel Capital

Mayfield
138
Enterprise Networking > Investors > Mayfield

Norwest Venture Partners
139
Enterprise Networking > Investors > Norwest Venture Partners

Andreessen Horowitz
140
Enterprise Networking > Investors > Andreessen Horowitz

Bessemer Venture Partners
141
Enterprise Networking > Investors > Bessemer Venture Partners

Verizon Ventures
142
Enterprise Networking > Investors > Verizon Ventures

Founder Collective
143
Enterprise Networking > Investors > Founder Collective

Accel Partners
144
Enterprise Networking > Investors > Accel Partners

Greylock Partners
145
Enterprise Networking > Investors > Greylock Partners

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
146
Seed Stage
Early Stage
Late Stage

Cisco Investments
147
Enterprise Networking > Investors > Cisco Investments

Hermes Growth Partners
148
Enterprise Networking > Investors > Hermes Growth Partners

Kleiner Perkins
149
Enterprise Networking > Investors > Kleiner Perkins

Northgate Capital
150
Enterprise Networking > Investors > Northgate Capital

Deutsche Telekom Capital Partners
151
Enterprise Networking > Investors > Deutsche Telekom Capital Partners

Qualcomm Ventures
152
Enterprise Networking > Investors > Qualcomm Ventures

Telstra Ventures
153
Enterprise Networking > Investors > Telstra Ventures

TCV
154
Enterprise Networking > Investors > TCV

155
Enterprise Networking > Investors > Lightspeed Venture Partners

156
Enterprise Networking > Investors > Mohr Davidow Ventures

Wing Venture Capital
157
Enterprise Networking > Investors > Wing Venture Capital

Battery Ventures
158
Enterprise Networking > Investors > Battery Ventures

Presidio Ventures
159
Enterprise Networking > Investors > Presidio Ventures

DAG Ventures
160
Enterprise Networking > Investors > DAG Ventures

Silver Lake
161
Enterprise Networking > Investors > Silver Lake

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
162
Incubators
Other Notable Investors
Debt Investors

Enterprise Networking > Investors > Index of Ecosystem Investors
Index of Top Ecosystem Investors in Enterprise Networking; Q1 2014 - Q1 2019
Index of Ecosystem Investors
INCUBATOR
Plug and Play Tech Center (6 Investments)
Techstars (4 Investments)
Alchemist Accelerator (4 Investments)
Jerusalem Venture Partners (3 Investments)
Y Combinator (2 Investments)
The Fabric (2 Investments)
Startupbootcamp (2 Investments)
Wayra
Portland Seed Fund
HAX
AngelPad
UpWest Labs
Hubraum
SK Telecom Americas Innopartners
OTHER NOTABLE INVESTORS
TriplePoint Capital (11 Investments)
Swisscom (4 Investments)
Matrix Partners (3 Investments)
BDC (3 Investments)
Singtel Innov8 (3 Investments)
Cisco (2 Investments)
Tamir Fishman (2 Investments)
Bpifrance (2 Investments)
NTT Docomo Ventures (2 Investments)
Google (2 Investments)
Deutsche Telekom (2 Investments)
National Science Foundation (2 Investments)
AT&T (2 Investments)
Sorenson Capital (2 Investments)
Fujitsu (2 Investments)
DEBT INVESTORS
Silicon Valley Bank (5 Investments)
Eastward Capital Partners (4 Investments)
Idinvest Partners (2 Investments)
TPG (2 Investments)
Pinnacle Ventures
The Carlyle Group
Hercules Capital
Ares
St. Cloud Capital

Plug and Play Tech Center
164
Enterprise Networking > Investors > Plug and Play Tech Center
People
Investments
[Editor's Pick] Noviflow (2012, Montreal, $9M, Series A)
High Performance OpenFlow based Switches
[Unicorn] Dropbox (2007, San Francisco, $607M, Public)
Cloud-based file sharing and synchronization software
[Unicorn] Guardant Health (2012, Redwood City, $550M, Series
E)
Cancer detection, care and treatment through Digital Sequencing
Technology
[Unicorn] N26 (2013, Berlin, $515M, Series D)
Mobile-first bank for retail customers.
[Unicorn] UiPath (2005, Bucharest, $448M, Series C)
Robotic process automation software
[Unicorn] Sprinklr (2008, New York City, $239M, Series F)
Social Media Presence Management Platform
[Unicorn] PayPal (1998, San Jose, $225M, Public)
Internet payment services provider
[Unicorn] Lending Club (2006, San Francisco, $162M, Public)
P2P online lending marketplace
[Soonicorn] Planet Labs (2010, San Francisco, $351M, Series D)
Microsatellites to maps the earth to provide universal access to
information
[Soonicorn] DataRobot (2012, Boston, $225M, Series D)
Automated machine learning platform for data science applications
[Soonicorn] Innoviz Technologies (2016, Kfar Saba, $217M,
Series C)
Developer of solid-state LiDARs for autonomous cars
Top Exits
Jojo Flores
Co-Founder & VP
Saeed Amidi
Founder & CEO
Feb 2019
NFV vendor netElastic inks 2 new vBNG partnerships,
Fierce Telecom
Mar 2018
Nutanix Announces Definitive Agreement to Acquire
Netsil, Business Wire
Feb 2018
Automation Survey Finds Network Engineers Need to
Learn How to Code, Business Wire
Nov 2017
Cloudflare expands into mobile performance with
Neumob acquisition, TechCrunch
Oct 2017
This Startup Just Nabbed $5 Million to Solve a Thorny
Software Problem, Fortune
Sep 2017
Netsil Taps Network Connections to Map Cloud, Container
Traffic, sdxcentral.com
Sep 2017
Netsil Launches, Introduces Auto-Discovered Maps for
Kubernetes and Docker Apps, Marketwired
Sep 2017
Neumob Drives 93% In-App Error Reduction for The
Economist, Rescuing Global Readers from App Timeouts
and Missing Content | WebWire, webwire.com
Mar 2017
ThinkMarkets Reduces Latency for Mobile Traders via
Neumob Partnership, Finance Magnates
Neumob
(2014, Sunnyvale, $12.7M)
Acq by CloudFlare - Nov 2017
Netsil
(2016, San Francisco)
Acq by Nutanix - Mar 2018
1 1
2013 2014 2015 2016 2017 2018
5
-
-
1
1
Undisclosed
Series C+
Series B
Series A
Seed5
2
-
-
-
US
Canada

Alchemist Accelerator
165
Enterprise Networking > Investors > Alchemist Accelerator
People
Investments
[Editor's Pick] NFWare (2014, Moscow, $2.5M, Series A)
Virtual network provider for telecom operators
[Editor's Pick] Puloli (2016, San Francisco, Seed)
NaaS for wide area and IoT connectivity
[Soonicorn] Rigetti Computing (2013, Berkeley, $119M, Series
B)
Full-stack quantum computing company
[Soonicorn] LaunchDarkly (2014, Oakland, $76.3M, Series C)
Early User Feedback capture
[Minicorn] mPharma (2013, Accra, $21.3M, Series B)
Pharmacy benefit management solution
[Minicorn] MoEngage (2014, Bangalore, $14.2M, Series B)
Mobile based platform for personalized marketing
[Minicorn] Clear Metal (2015, San Francisco, $12M, Series A)
Analytics platform for container shipping industry
[Minicorn] Sense.ly (2013, San Francisco, $11.5M, Series B)
Platform with a virtual nurse for health care monitoring and
management
[Minicorn] Mavin (2014, San Francisco, $9.2M, Series A)
Customer engagement and free mobile data solutions for businesses
[Minicorn] PlayVox (2012, San Francisco, $9.2M, Series A)
Employee Engagement Software for Call centers
[Minicorn] Scoro (2009, San Francisco, $7.1M, Series A)
Manage projects, clients and finances
[Editor's Pick] NextInput (2012, San Jose, $33.1M, Series B)
Human-machine interaction using tactile and pressure forces
Top Exits
Ravi Belani
Co-Founder &
Marketing Director
Ash Rust
Co-Founder
Mar 2017
NFWare secures $2 million to expand in Europe and US,
East-West Digital News
Nov 2015
Seed-Finanzierung für Wayra-Startup: Gleich drei
Investoren für NFWare › Telefónica Deutschland Blog,
Telefonica Germany
None
1
2013 2014 2015 2016 2017 2018
3
-
-
-
1
Undisclosed
Series C+
Series B
Series A
Seed3
1
-
-
-
US
Europe

Jerusalem Venture Partners
166
Enterprise Networking > Investors > Jerusalem Venture Partners
People
Investments
[Minicorn] Teridion (2013, Petah Tikva, $25M, Series B)
Cloud Routing Services between data centre and enduser
[Soonicorn] CyberArk (1999, Petah Tikva, $59M, Public)
Privileged account security solution
[Soonicorn] Altair (1985, Troy, $30.1M, Public)
Developer of simulation technology
[Soonicorn] AnyClip (2008, Jerusalem, $21M, Series B)
Video Marketing Solutions
[Minicorn] ThetaRay (2013, Jerusalem, $60M, Series C)
Big data analytics based cyber threats and operational risk detection
[Minicorn] iguazio (2014, Herzliya, $48M, Series B)
Streaming analytics platform for multiple industries
[Minicorn] QualiSystems (2007, Santa Clara, $38.8M, Series C)
Test automation software & cloud infrastructure management
software
[Minicorn] AppDome (2011, Tel Aviv, $37.5M, Series B)
SaaS based dynamic application wrapping for mobile app protection
[Minicorn] GamEffective (2012, Tel Aviv, $21M, Series B)
Enterprise Gamification platform for Sales and Customer service
[Minicorn] MorphiSec (2014, Beersheba, $20.5M, Series B)
Infiltration prevention & forensics solution on endpoints
[Minicorn] Unispectral (2014, Ramat Gan, $13.7M, Series A)
Hyper spectral digital imaging sensors
[Minicorn] Secret Double Octopus (2015, Beersheba, $7.5M,
Series A)
keyless networking framework for network security
Top Exits
Erel Margalit
Founder & Chairman
Mar 2019
Mobileum, Allot Partner to Enhance Roaming Customers’
QoE, TELECOMDRIVE
Feb 2019
Allot research finds closed loop automation adoption is
key to delivering quality in high-speed 5G networks,
Proactive Investors
Feb 2019
Allot boosts Safaricom’s security protecting fixed, mobile
customers from cyber-attacks, phishing, crypto-jacking,
Proactive Investors
Feb 2019
Allot Communications beats by $0.02, beats on revenue,
Seeking Alpha
Feb 2019
Israeli telecoms rise after Allot's strong Q4 revenues,
Seeking Alpha
Jan 2019
Tier 1 US Network Operator Chooses Allot IoTSecure to
Protect Public IoT Network, PR Newswire
Nov 2018
Telefónica Launches a Pioneering Cybersecurity Service
for Consumers Powered by Allot, AiThority
Nov 2018
Teridion, Citrix Combine SD-WAN Solution with Routing
Optimization, The Fast Mode
Nov 2018
Teridion unwraps cloud-based SD-WAN service for
enterprises, Fierce Telecom
Allot
(1996, Hod Hasharon)
IPO - Nov 2006
F5 Networks
(1996, Seattle)
IPO - Jun 1999
11
2013 2014 2015 2016 2017 2018
2
-
-
1
-
Undisclosed
Series C+
Series B
Series A
Seed2
1
-
-
-
Israel
US

Y Combinator
167
Enterprise Networking > Investors > Y Combinator

The Fabric
168
Enterprise Networking > Investors > The Fabric

169
Enterprise Networking > Investors > Magma Venture Partners

Portland Seed Fund
170
Enterprise Networking > Investors > Portland Seed Fund

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
171
Incubators
Debt Investors

TriplePoint Capital
172
Enterprise Networking > Investors > TriplePoint Capital

Swisscom
173
Enterprise Networking > Investors > Swisscom

Matrix Partners
174
Enterprise Networking > Investors > Matrix Partners

BDC
175
Enterprise Networking > Investors > BDC

Singtel Innov8
176
Enterprise Networking > Investors > Singtel Innov8

Cisco
177
Enterprise Networking > Investors > Cisco

Tamir Fishman
178
Enterprise Networking > Investors > Tamir Fishman

Bpifrance
179
Enterprise Networking > Investors > Bpifrance

NTT Docomo Ventures
180
Enterprise Networking > Investors > NTT Docomo Ventures

Google
181
Enterprise Networking > Investors > Google

Deutsche Telekom
182
Enterprise Networking > Investors > Deutsche Telekom

National Science Foundation
183
Enterprise Networking > Investors > National Science Foundation

AT&T
184
Enterprise Networking > Investors > AT&T

Sorenson Capital
185
Enterprise Networking > Investors > Sorenson Capital

Fujitsu
186
Enterprise Networking > Investors > Fujitsu

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
187
Incubators
Debt Investors

Silicon Valley Bank
188
Enterprise Networking > Investors > Silicon Valley Bank

Eastward Capital Partners
189
Enterprise Networking > Investors > Eastward Capital Partners

Idinvest Partners
190
Enterprise Networking > Investors > Idinvest Partners

TPG
191
Enterprise Networking > Investors > TPG

Pinnacle Ventures
192
Enterprise Networking > Investors > Pinnacle Ventures

The Carlyle Group
193
Enterprise Networking > Investors > The Carlyle Group

Hercules Capital
194
Enterprise Networking > Investors > Hercules Capital

195
Enterprise Networking > Investors > Export Development Canada

196
Enterprise Networking > Investors > Wellington Financial

Ares
197
Enterprise Networking > Investors > Ares

Contents
Feed Summary
Investment Trend
Key Markets
Exit Outlook
Investors
News
Appendix
198
Recent News

Recent News (1/2)
200
Enterprise Networking > News > Recent News
Mar 2019
UK report confirms warnings of Huawei security risks: US official,
Business Standard
Mar 2019
itnews.com.au
Mar 2019
NetFoundry & Cloud Comrade Partner to Offer Secure Cloud
Services in Singapore & Southeast Asia, chiefit.me
Mar 2019
Huawei Vows to 'Shake Off' Pressure as Network Business Takes a
Hit, New Delhi Television
Mar 2019 Huawei urges US to drop ‘loser’s attitude’, ejinsight.com
Mar 2019 Britain rebukes Huawei over security failings, ejinsight.com
Mar 2019
China's Huawei posts higher profit as smartphone sales hit record,
Reuters
Mar 2019
Know More About E-Learning Market with Futuristic Growth by
Top Players Like Adobe Systems, Allen Interactions, CERTPOINT
Systems, Cisco Systems, Cornerstone, D2L Corp., Digital Journal
Mar 2019
TSE and Huawei signed the Cooperation Agreement for over 150
MW Japanese Solar Farm, PR Newswire
Mar 2019
Cisco warns of two security patches that don’t work, issues 17 new
ones for IOS flaws, ARN
Mar 2019
Intrusion Detection & Protection System Market is Booming
Worldwide | IBM, Cisco Systems, Symantec, McAfee, HP, CheckPoint,
Digital Journal
Mar 2019
Huawei urges US to drop loser's attitude as carrier business
revenue slips, The Star Online
Mar 2019 Huawei predicts double-digit growth in revenue, China Daily
Mar 2019
Huawei aims to capture OnePlus’ market share in India: Report, BGR
Media
Mar 2019
Here's how you will get Huawei P30 Pro's wireless charging feature
on the P30, BGR Media
Mar 2019
Huawei defends security record as annual sales top 100 billion
dollars, Irish Examiner
Mar 2019
Huawei urges U.S. to drop 'loser's attitude' as carrier business
revenue slips, Reuters
Mar 2019
EMEA smartphone market, digital transformation gives Huawei a
boost, ITWeb Africa
Mar 2019 Huawei profit surge helps shake off US security concerns, Nikkei
Mar 2019 UK Slam Huawei Over Fresh Security Risks, ChannelNews
Mar 2019 Huawei P30 cases with wireless charging support launched, Digit
Mar 2019
Mar 2019 Huawei slammed in UK for jeopardising security, The Star Online
Mar 2019
The Experts Agree, Cloud-Based Gigamon Insight is the Key to
Actionable, Intelligent Network Data Security, Business Wire
Mar 2019
Huawei Mate 30 Confirmed to Already Be in Testing, Will Launch
September or October, New Delhi Television
Mar 2019
Juniper Networks Extends Partnership with LINE with User Base
Over 164 Million, Investing News

Recent News (2/2)
201
Enterprise Networking > News > Recent News
Mar 2019
Reuters
Mar 2019
ZTE, BBV and Primevest Capital Partners Start the Last
Construction Phase for a Fiber-optic Network in Southern Germany,
webwire.com
Mar 2019
Huawei P30 Pro dethrones Galaxy S10 Plus to become the new
DXOMARK camera king, TechJuice
Mar 2019
Huawei P30 Pro camera beats Samsung Galaxy S10+, secures top
position with DxOMark score of 112, zeebiz.com
Mar 2019
Polish minister says Huawei should lobby Beijing to open markets,
Reuters
Mar 2019
Clash With Washington Drove ZTE $1 Billion Into the Red Last Year,
Caixin Global
Mar 2019
UK gov slams Huawei over 'significant' security failures in damning
report, The INQUIRER
Mar 2019
UK cyber security officials report Huawei’s security practices are a
mess, Ars Technica
Mar 2019
Thermal Engineers at Facebook, HP Enterprise and More Share
Their Top Thermal Design Priorities for 2019, Business Wire
Mar 2019 ZTE Post US$1B Loss After US & Telstra Blow, ChannelNews
Mar 2019
Japan curbs on Chinese telecom firms could hurt ties, says China,
Reuters
Mar 2019
Akamai To Launch New Scrubbing Centre in Melbourne,
ChannelNews
Mar 2019
Tech Data to distribute Barracuda IT security products in India,
Telecompaper
Mar 2019
Huawei poses national security risks, says United Kingdom
watchdog, Click Lancashire
Mar 2019 Cisco to start new educational projects in Russia, Telecompaper
Mar 2019 Huawei Y6 Prime (2019) Lands in Pakistan, PhoneWorld
Mar 2019 UK: Huawei equipment has ‘significant’ security flaws, Indiatimes
Mar 2019
Huawei targets 35% growth in smartphones sales in Portugal,
Telecompaper
Mar 2019
After Huawei P30, company now working on Mate 30: Expected
specs and launch date, India Today
Mar 2019 Why Broadcom Is a Better Bet Than IBM, Citybizlist
Mar 2019
Huawei’s strange smart eyewear announcement hints at its growing
consumer ambitions, VentureBeat
Mar 2019
Huawei, Redington Awards IT Partners to Enhance Growth of Local
ICT Industry, Soko Directory
Mar 2019 China’s 5G noise scrambles ZTE’s positive signals, telecomlive.com
Mar 2019
Optical Encoders Market Emerging Trends And Company Profiles
To Watch- Broadcom, Bei Sensors, Rockwell Automation, Renishaw
Plc., Dynapar 2017 – 2025, Red Newswire
Mar 2019
ZTE surged 10 percent daily cap with a forecast of a profitable first
quarter, SHINE

Contents
Feed Summary
Investment Trend
Key Markets
Exit Outlook
Investors
News
Appendix
202
Explore more on Tracxn Platform
Index of Top companies by Market
Funded Deadpooled Companies

Explore more on Tracxn Platform
204
Companies
Companies Covered
Unicorns
Public Companies
Acquired Companies
Funded Companies
Investment Trends
Recent Investments
Mega Investments
Investment Trend
Markets
BlueBox
Taxonomy
News
Key News
Recent News
Company Stage
Angel Funded
Seed Funded
Early Stage (Series A/B)
Late Stage (Series C+)
Acqui-hires
DeadPooled
Investors Acquirers
Unicorn Investors
Most Active VC &PE Investors
Portfolio of Top Investor
Most Active Acquirer
Enterprise Networking > Appendix > Explore Sector on Tracxn Platform

Index of IPOs, Acquisitions, Unicorns, Soonicorns, Minicorns and Editor Picks in Enterprise Networking
Index of Top companies by Market (1/30)
205
Enterprise Networking > Appendix > Index of Top companies by Market
Network Services
Network Services
Covaro (2003, Corunna, $42M)
Intelligent ethernet demarcation products for WAN
applications
Stage: Acquired
CenterPoint Ventures, InterWest Partners,
Centennial Ventures and 2 Other Investors
Village, $105M)
Stage: Acquired
Norwest Venture Partners, New Enterprise
Associates, Palomar Ventures and 4 Other
Investors
Luminate Wireless (2013, Cupertino, $48M)
Cloud-enabled Mobile Network Connection
Sequoia Capital, New Enterprise Associates,
Qualcomm and 4 Other Investors
Pertino (2011, Los Gatos, $28.9M)
VPN to the power of the cloud
Stage: Acquired
Norwest Venture Partners, Lightspeed Venture
Partners, Icon Ventures and 1 Other Investors
PacketFabric (2015, Los Angeles, $25M)
Software controlled interconnection network
services
NantWorks
Teridion (2013, Petah Tikva, $25M)
Cloud Routing Services between data centre and
enduser
Kickstart Ventures, Singtel Innov8, Jerusalem
Metaswitch (1981, London)
SoftSwitch and VOIP solutions provider
Sequoia Capital, Walden Riverwood Ventures,
Dispersive Networks (2010, Alpharetta)
Programmable virtual overlay network
Editor's Pick. Stage: Funded

206
Network Services
Puloli (2016, San Francisco)
NaaS for wide area and IoT connectivity
Alchemist Accelerator
CDN
CDN
and CDN
Sagemount, Kaplan Group Investments and 1 Other
Investors
CDN
WAF
Highwinds (2002, Winter Park, $90M)
Content delivery, network and cloud-based IP
services
Stage: Acquired
Kayne Anderson Capital Advisors, Cerberus Capital
Management, General Catalyst Partners and 7
Other Investors
Verivue (2006, Westford, $85M)
Cable backed CDN Solution provider
Stage: Acquired
Spark Capital, Matrix Partners, Comcast Ventures

207
CDN
CDN
Velocix (2002, Cambridge, $79M)
CDN solutions
Stage: Acquired
Pentech, Amadeus Capital, 3i Group and 1 Other
Investors
$74M)
CDN platform
Stage: Acquired
Performance Equity Management, Menlo Ventures,
Steamboat Ventures and 2 Other Investors
Digital Fountain (1998, Fremont, $60M)
Digital media delivery software providers
Stage: Acquired
Matrix Partners, Cisco, Sony Innovation Fund and 8
Other Investors
CDN
Investors
Stage: Acquired
Citrix, Juniper Networks, Sequoia Capital and 6
Other Investors
Ankeena (2008, Santa Clara, $31.8M)
Media Infrastructure Solutions
Stage: Acquired
Mayfield, Trinity Ventures, Clearstone Venture
CDN
Ortiva Wireless (2004, La Jolla, $27.4M)
Mobile video/content optimization solutions
provider
Stage: Acquired
Intel Capital, Comcast Ventures, Mission Ventures
$26.5M)
Stage: Acquired
Trinity Ventures, Bank of America, Comdisco and 6
Other Investors
Panther Express (2005, New York City, $21.8M)
Content delivery solutions provider
Stage: Acquired
Index Ventures, Gold Hill Capital, Greylock Partners

208
CDN
CDN
OnApp (2010, London, $20M)
Cloud software platform for hosting providers
LDC, KickAss Capital
Investors
provider
IPO Date Jul 2013 IPO Mcap -
TYO 4347
CDN
Stage: Acquired
Aetius Capital
Stage: Acquired
Stage: Acquired
Walden Venture Capital, Crosslink Capital, Newlight
Management
Caching
Infolibria (1997, Waltham, $47.5M)
Hardware and Software for CDN providers
Stage: Acquired
Microsoft Ventures, Adams Capital Management,
Sandler Capital and 5 Other Investors
Blackwave (2006, Acton, $29M)
Video caching and delivery acceleration
Sigma Partners, Globespan Capital Partners,
Flybridge Capital Partners and 1 Other Investors
SiteLock (2008, Scottsdale)
Cloud based website security & testing suite
Bridgescale Partners

209
CDN
Caching
Link11 (2005, Frankfurt)
DDoS protection and CDN solutions provider
Knix (2000, Seoul)
Carrier-neutral internet infrastructure provider in
South Korea
IPO Date Feb 2011 IPO Mcap $34.8M
KOSDAQ 93320
Traffic Monitoring
Stackpath (2015, Dallas, $180M)
Network security as a service, secure CDN & VPN
service
ABRY Partners
Cedexis (2009, Portland, $33.3M)
Internet performance and traffic monitoring
platform
Stage: Acquired
Ginko Ventures, Foxconn Electronics, Citrix and 3
Other Investors
ADN
ADN
email
Sequoia Capital, Francisco Partners, Focus Ventures
A10 Networks (2004, San Jose, $120M)
IPO Date Mar 2014 IPO Mcap -
NYSE ATEN
Cresendo Networks (2002, Tel Aviv, $45M)
Application delivery and load balancing
Stage: Acquired
Evergreen Venture Partners, Apax Partners,
StageOne Ventures and 5 Other Investors
Netiverse (1999, San Bernardino)
Stage: Acquired
Sequoia Capital, Cisco

210
ADN
ADN
IPO Date Oct 1999 IPO Mcap -
NASDAQ RDWR
ADC
Strangeloop Networks (2006, Vancouver,
$21.5M)
Front-End Application delivery acceleration
Stage: Acquired
Stanley Park Ventures
IPO Date Jun 1999 IPO Mcap $179M
NASDAQ FFIV
Provider of Application Delivery Controllers (ADC)
and Cloud security Switches
IPO Date Aug 2013 IPO Mcap $48.1M
KOSDAQ 170790
Stage: Acquired
Scottish Equity Partners, Draper Esprit
ADC
Stage: Acquired
GGV Capital, Storm Ventures, Gabriel Venture

211
VPN
Cloud Based
Perimeter 81 (2014, Tel Aviv, $5M)
VPN solution provider
Spring Ventures, JAL Ventures
ZenMate (2013, Berlin)
Internet security and privacy VPN service provider
$103M)
Stage: Acquired
Crosspoint Venture Partners, Accel Partners,
Aventail Corporation (1996, Seattle, $55M)
SSL VPN remote access solution
Stage: Acquired
Upfront Ventures, Oak Investment Partners, Saic
uRoam (1998, Sunnyvale, $37.9M)
SSL VPN based remote enterprise application
access
Stage: Acquired
Ricoh, Lightspeed Venture Partners, Advent

212
WAN
WAN
Circadence (1995, Boulder, $144M)
WAN Optimization Technology
Global Crossing, Hikari Tsushin, Hewlett-Packard
Tasman Networks (1997, San Jose, $93M)
Routers and internet access solutions
Stage: Acquired
Mayfield, Harbinger Venture Management, New
Expand Networks (1998, Tel Aviv, $70M)
WAN Optimization Solutions
Stage: Acquired
Intel Capital, Robeco, Time Warner and 9 Other
Investors
WAN
Stage: Acquired
WK Technology Fund, Mayfield, Accel Partners and
3 Other Investors
Tacit Networks (2000, South Plainfield,
$36.2M)
WAN optimization solutions for branch office and
remote users
Stage: Acquired
Brocade Communication Systems, RRE Ventures,
JPMorgan and 4 Other Investors
Stage: Acquired
IPO Date - IPO Mcap -
- -
WAN
Stage: Acquired
New Enterprise Associates, ONSET Ventures,
Berkeley VC International

213
WAN
SD-WAN
Other Investors
Investors
delivery
SD-WAN
SD-WAN
platform
Other Investors
connections

214
WAN
SD-WAN
Intel Capital, Bain Capital Ventures, Mayfield and 1
Other Investors
solution
National Science Foundation, GV, New Enterprise
Associates and 1 Other Investors
InfoVista (1996, Rue, $10.5M)
Unified platform for network performance,
application performance, and SLA management.
Ares, GE Capital, Innovacom and 7 Other Investors
SD-WAN
Meta Networks (2016, Tel Aviv, $10M)
Zero-trust Network as a service provider
Vertex Ventures, BRM Group
network
Seed Fund and 3 Other Investors
Lavelle Networks (2015, Bangalore, $1.9M)
WAN management platform
ASM Technologies, Ideaspring Capital, ShoreTel and
3 Other Investors
IPO Date Dec 1995 IPO Mcap -
NASDAQ CTXS
SD-WAN
SimpleWAN (2014, Phoenix)
Cloud Managed Firewall for Service Providers
Minicorn. Stage: Funded
Arizona Tech Investors
AppEx Network (2007, San Jose)
Network application performance optimization
products and service provider
NetFoundry (2016, Charlotte)
SD-WAN solution provider
NEXION Networks (2017, Perth)
Provider of modular data center
Nuage Networks (2012, Mountain View)
Virtualization through Software Defined
Networking

215
WAN
SD-WAN
Secuscaler (2013, Hamburg)
Network security from the cloud
Teldat (1984, Tres Cantos)
SD-WAN solutions provider
TELoIP (2002, Mississauga)
Software Controlled Networks for Carriers and
Enterprises
OCGC
SD-WAN software for devices to connect anywhere
on the network
IPO Date Jan 2011 IPO Mcap $41.4M
ASX NET
Network Controller
SDN
$241M)
Dell Technologies, Silver Lake, Index Ventures and
10 Other Investors
ConteXtream (2006, Petah Tikva, $23.8M)
Carrier grade SDN solution
Stage: Acquired
Comcast Ventures, Verizon Ventures, Benhamou
Global Ventures and 3 Other Investors
Lumina Networks (2017, San Jose, $10.1M)
Open-source SDN controller and other networking
products
Editor's Pick. Stage: Series A
Verizon Ventures, AT&T, Rahi Systems
SDN
Controller for SDN
Stage: Acquired
Khosla Ventures
Megaport (2013, Brisbane, $7.4M)
IPO Date Dec 2015 IPO Mcap $63M
ASX MP1
Brain4Net (2015, Moscow, $6.6M)
SDN and NFV solutions provider
Leta capital, Rostelecom

216
IPO Date Aug 2007 IPO Mcap $10.9B
NYSE VMW
PLUMgrid (2011, Sunnyvale, $45.9M)
Network virtualization for SDN
Stage: Acquired
Longworth Venture Partners, U.S Venture Partners,
Qualcomm Ventures and 3 Other Investors
Midokura (2010, Barcelona, $44M)
Network Virtualization leveraging existing physical
infrastructure
Simplex, INCJ, Fujitsu and 4 Other Investors
Lightspeed Venture Partners, New Enterprise
Associates, Andreessen Horowitz
Embrane (2009, Santa Clara, $41M)
Platform for virtual network services
Stage: Acquired
Presidio Ventures, Lightspeed Venture Partners,
New Enterprise Associates and 2 Other Investors
Vyatta (2005, Belmont, $40.6M)
Network virtualization software
Stage: Acquired
HighBar Partners, JPMorgan Chase & Co.,
ArrowPath Venture Partners and 5 Other Investors
IPO Date Feb 1997 IPO Mcap $2.1B
NYSE CIEN
NFV Platform
Qosmos (2000, Paris, $42.7M)
Deep packet inspection & NFV solutions provider
Draper Esprit, Alven, FSI and 5 Other Investors
IPO Date Jun 2017 IPO Mcap $58.9M
LON ENET
Enea (1968, Kista)
Open source NFV platform and embedded software
solutions provider
STO ENEA

217
NFV Platform
NetElastic Systems (2016, Santa Clara)
End-to-end solutions for network function
virtualization
Network Management
Network Management
Austin Ventures, Insight Venture Partners, Bain
Capital Ventures and 5 Other Investors
Network Performance Management
Westfield Capital, Bain Capital Ventures,
HarbourVest Partners and 3 Other Investors
Intelliden (2000, Menlo Park, $105M)
Network Automation Software
Stage: Acquired
Matrix Partners, 3i Group, Hercules Capital and 3
Other Investors
Network Management
BTI Systems (2000, Ottawa, $62.4M)
Packet Optical Networking Technology
Stage: Acquired
Blue Cloud Ventures, Bain Capital Ventures,
GrowthWorks Capital and 7 Other Investors
Kentik (2014, San Francisco, $38.2M)
Network visibility and Analytics
Editor's Pick. Stage: Series B
Third Point Ventures, August Capital, Data
Collective and 7 Other Investors
NextPoint Networks (1998, Gaithersburg,
$35M)
IP based network integration solutions
Stage: Acquired
Core Capital Partners, One Equity Partners,
Summerhill Venture Partners and 2 Other
Investors

218
Network Management
Network Management
automation solution
Minicorn. Stage: Series C
Canada Ventures and 1 Other Investors
Highland Capital Partners
Napatech (2003, Soborg, $15M)
Network acceleration management and security
applications
IPO Date Jan 2017 IPO Mcap -
FRA NAT
Stage: Acquired
Sierra Ventures
Network Management
Networking Software
Stage: Acquired
SEB
NetScout (1985, Westford, $6M)
IPO Date Aug 1999 IPO Mcap $281M
NASDAQ NTCT
Intentionet (2015, Los Angeles, $3M)
Rapid design and deployment of network
National Science Foundation, True Ventures
Provider of virtualization solution, security and
network analytics
IPO Date Nov 2006 IPO Mcap -
NASDAQ ALLT
Network Management
ManageEngine (1995, Pleasanton)
Enterprise IT Management and Customer Support
Software
Randvest Capital
Zabbix (2005, Riga)
Open source distributed network & application
monitoring solutions
Soonicorn. Stage: Bootstrapped Large
Pari Networks (2005, Milpitas)
Network configuration and change management
solutions
Stage: Acquired

219
Network Management
Network Management
Stage: Acquired
Stage: Acquired
SDN
provider for CSPs
Capital
Sedona Systems (2014, Ra'anana, $19.6M)
Real Time Network Layer Monitoring
Intel Capital, Bessemer Venture Partners, Scale Up
Venture Capital and 2 Other Investors
Intent-based network management platform
SmartGateVC, Granatus Ventures
SDN
Stage: Acquired
TDF Ventures

220
Network Management
LiveAction Software (2007, Santa Clara,
$41.4M)
Enterprise network management software
Editor's Pick. Stage: Series B
Insight Venture Partners, Cisco Investments, Sway
Opale Systems (2009, Paris)
Network monitoring, visibility and troubleshooting
solutions provider
Pandora FMS (2005, Madrid)
Network monitoring software
IPO Date Aug 1994 IPO Mcap -
NASDAQ ADTN
provider
Stage: Acquired
Stage: Acquired
New Enterprise Associates, Adams Capital
Management
Stage: Acquired
TPG, Silver Lake
Traffic Monitoring
Mazu Networks (2000, Cambridge, $42M)
Network behavior analytics solution
Pilot House Ventures, Matrix Partners, Symantec
Trisul (2003, Chennai)
Network security monitoring and traffic analytics
platform

221
Network Management
Analytics
NetMotion Wireless (2001, Seattle, $25.9M)
Mobile VPN for security & network performance
management
Stage: Acquired
Mitsui Global, Alexander Hutton, SeaPoint Ventures
Tupl (2014, Snoqualmie, $5.6M)
Network monitoring, analytics, and virtualized
backend platform
Tutela (2011, Victoria)
Crowdsourced mobile data analytics solution
provider
VFF, Yaletown Partners, Wesley Clover and 1 Other
Investors
Overture (2000, Morrisville, $125M)
SDN NFV Network Orchestration
Stage: Acquired
Horizon Technology Finance, Tenaya Capital,
Questmark Partners and 11 Other Investors
Stage: Acquired
Azure Capital Partners, Norwest Venture Partners,
Tenaya Capital and 5 Other Investors
Voyence (2000, Richardson, $42M)
Network configuration manager
Stage: Acquired
HO2 Partners, InterWest Partners, Sevin Rosen
Funds and 5 Other Investors
Nakina Systems (2002, Kanata, $36.1M)
Network Security and Orchestration solutions
Stage: Acquired
VG Partners, VIMAC Ventures, MMV Financial and 2
Other Investors
solutions provider
Eastward Capital Partners, Palomar Ventures, El
Dorado Ventures and 2 Other Investors
Inmanta (2016, Leuven, $684k)
Network and cloud orchestration solutions provider
NEC (1953, Bunkyo)
TYO 1973

222
Network Management
Nuviso Networks (2014, Milpitas)
Network orchestration platform
UBiqube (2006, Dublin)
Network and security orchestration solutions
provider
Fujitsu, NTT Docomo Ventures, Fortinet
Network Software
Network OS
$129M)
Pluribus Networks (2010, Palo Alto, $92.5M)
Software-defined networks for data centers
Temasek, Ericsson, Newtech Technology and 9
Other Investors
IP Infusion (1999, Sunnyvale, $20.4M)
Network OS, Management and software solutions
Stage: Acquired
Investor Growth Capital, Formative Ventures, Intel
Network OS
Arrcus (2015, San Jose, $15M)
Internet scale, microservices-based Network OS
Clear Ventures, General Catalyst Partners
Zeetta (2015, Bristol, $3.9M)
Network Operating System
Bloc Ventures, IP Group, Breed Reply and 3 Other
Investors
Apstra (2015, Menlo Park)
Automation platform for building and operating
networks
Minicorn. Stage: Unfunded

223
Network Software
Embedded Software
Stage: Acquired
Benhamou Global Ventures, 3Com, The Challenge
Fund-Etgar and 8 Other Investors
LVL7 Systems (1999, Morrisville, $59.3M)
Enterprise Wired and Wireless Systems
Stage: Acquired
The Carlyle Group, Gabriel Venture Partners,
Lighthouse Capital Partners and 4 Other Investors
$28M)
Stage: Acquired
Bessemer Venture Partners, Cisco, Integral Capital
Embedded Software
6WIND (2000, Montigny, $9.7M)
Embedded Software Providers
Cisco Investments, Sofinnova Partners, ACE
Management and 4 Other Investors
IPO Date Jul 2013 IPO Mcap -
TYO 3858
Domain Name System
Dyn (2001, Manchester, $100M)
DNS and Network Monitoring Solutions
Stage: Acquired
Pamplona Capital Management, Borealis Ventures,
Guidepost Growth Equity
solutions
Duchossois Technology Partners, Sequoia Capital,
Lehman Brothers and 12 Other Investors
Cisco, Sutter Hill Ventures, Sequoia Capital and 12
Other Investors

224
Network Software
Domain Name System
NS1 (2013, New York City, $28.8M)
NS1 - Intelligent DNS & Traffic Management,
Managed DNS
GGV Capital, Salesforce Ventures, Deutsche
Telekom Capital Partners and 9 Other Investors
Stage: Acquired
Trident Capital, Bridgescale Partners, OVCF and 2
Other Investors
Routing Software
G20 Ventures, The Perkins Fund
Packet Design (2003, Austin, $47.1M)
IP network route analytics, monitoring, and
planning solutions provider
Advanced Technology Ventures, Masthead Venture
Partners, Mayfield and 6 Other Investors
NextHop Technologies (2000, Mountain View,
$34.3M)
Routing Protocol for L2-L3 routing
Stage: Acquired
New Enterprise Associates, Labrador Ventures,
Duchossois Capital Management and 1 Other
Investors
Routing Software
ThinQ (2009, Raleigh, $24.5M)
Cloud-based CaaS, LCR and caller ID solutions
provider
Windspeed Ventures
NFWare (2014, Moscow, $2.5M)
Virtual network provider for telecom operators
Sistema Venture Capital, Maxfield Capital, Almaz

225
Network Equipment
Network Equipment
Stage: Acquired
EPIC Venture Fund, El Dorado Ventures, Orascom
TMT investments and 6 Other Investors
platform provider
Stage: Acquired
Suite
Unified communication and IP products provider
Silicon Valley Bank, Sevin Rosen Funds, Venrock
IPO Date Jan 2018 IPO Mcap -
NYSE AVYA
$97.7M)
storage
Oracle, Bessemer Venture Partners, Intel Capital
Suite
CampVentures, Ventana Capital Management,
solutions
Venrock, New Enterprise Associates, Berkeley VC
New Enterprise Associates, Menlo Ventures

226
Network Equipment
Suite
Accel Partners, DCM Ventures
Major semiconductor company focused on
networking, computer peripherals and multimedia
ICs
IPO Date Mar 2005 IPO Mcap -
TPE 2379
IPO Date May 1999 IPO Mcap -
- AUDC
Suite
TPE 6142
- -
Network solutions provider for home and
enterprises
- -
provider
Stage: Acquired
Silver Lake, Western Technology Investment,
Valhalla Partners
Suite
Planet Technology Corporation (1993,
Taipei)
IPO Date Sep 2003 IPO Mcap -
TPE 6263

227
Network Equipment
Gateways
Norwest Equity Partners, Spectrum Equity, Juniper
Networks and 6 Other Investors
Enigmatec (2001, Berlin)
Network gateway solution provider
Editor's Pick. Stage: Funded
4 Equity Capital
Stage: Acquired
Accel Partners, Diamondhead Ventures, JK&B
Switches
Force10 Networks (1999, San Jose, $469M)
Ethernet Switches for data centers and enterprises
Stage: Acquired
Crosslink Capital, Meritech Capital Partners,
Morgenthaler and 13 Other Investors
Western Digital, Xilinx, Silicon Valley Bank and 11
Other Investors
Quantum Bridge Communications (1998,
Andover, $124M)
FTTP solutions provider
Stage: Acquired
TPG, Morgan Stanley, JPMorgan and 3 Other
Investors
Switches
GV, Lightspeed Venture Partners, Matrix Partners
Francisco, $67M)
Stage: Acquired
Meritech Capital Partners, Accel Partners, Advent
Cabletron Systems, Greylock Partners

228
Network Equipment
Switches
Woven Systems (2003, Santa Clara, $30M)
Ethernet Switches
Stage: Acquired
Mohr Davidow Ventures, Palomar Ventures,
Goldman Sachs
Corsa (2011, Ottawa, $20.7M)
Data Plane Solutions for SDN
Roadmap Capital, Celtic House Venture Partners,
BDC
Pica8 (2009, Palo Alto, $20M)
Software Defined Network OS and Switches
VantagePoint Capital Partners, CROSS HEAD, Mitsui
Global
Switches
Westford, $15.8M)
North Bridge, Matrix Partners, Accel Partners and 1
Other Investors
Clara, $10M)
Stage: Acquired
Garnett & Helfrich Capital, NEC, Juniper Networks
Noviflow (2012, Montreal, $9M)
High Performance OpenFlow based Switches
Fonds de solidarite FTQ, W investments, Plug and
Play Tech Center and 1 Other Investors
Switches
IPO Date Jun 2014 IPO Mcap $2.7B
NYSE ANET
New Enterprise Associates, ONSET Ventures, Silver
Creek Ventures and 6 Other Investors
Polatis (2013, Cambridge)
SDN-enabled optical switch provider
SMC Networks (1971, Irvine)
Equipment provider of gateways and home security
customer premise equipment

229
Network Equipment
Session Border Controller
Kagoor Networks (2000, San Mateo, $40M)
Session border control (SBC) technology
Stage: Acquired
Accel Partners, ConcordVentures, VantagePoint
Industrial Ethernet
Developer of analog and digital semiconductor
products
- -
Adapters
Acacia Capital Partners, Anthem Venture Partners,
Oak Investment Partners and 10 Other Investors
Dolphin Interconnect Solutions (1992,
Woodsville)
- -
High-performance server/appliances networking
solutions
IPO Date May 2011 IPO Mcap $7.6M
EURONEXT MLSIL
Stage: Acquired

230
WLAN Infrastructure
WLAN Infrastructure
Stage: Acquired
Vision Capital, Clearstone Venture Partners,
BlueStream Ventures and 13 Other Investors
Xirrus (2004, Thousand Oaks, $121M)
wireless networking products
Stage: Acquired
August Capital, Canaan Partners, InterWest
IPO Date Mar 2014 IPO Mcap $436M
NYSE HIVE
WLAN Infrastructure
Matrix Partners, Sequoia Capital, Trinity Ventures
NETGEAR (1996, San Jose, $98M)
IPO Date Aug 2003 IPO Mcap $381M
NASDAQ NTGR
Stage: Acquired
Juniper Networks, Nortel, Accel Partners and 8
Other Investors
WLAN Infrastructure
network solutions
Stage: Acquired
Perceptive Advisors, Lightspeed Venture Partners,
Stage: Acquired
Meritech Capital Partners, Singtel Innov8, Motorola
Solutions and 13 Other Investors
Colubris Networks (2000, Waltham, $50M)
WLAN solution provider
Stage: Acquired
Prism VentureWorks, GrandBanks Capital, DCM

231
WLAN Infrastructure
WLAN Infrastructure
Cloud Networking
Sequoia Capital, DAG Ventures, Northgate Capital
Mimosa (2012, Campbell, $38M)
Wireless broadband equipment and network &
device management solutions provider
New Enterprise Associates, Oak Investment
Partners, TriplePoint Capital
StrixSystems (2002, Newbury Park, $34M)
Wireless Mesh Networking
Stage: Acquired
Windward Ventures, Pelion Venture Partners,
CMEA Capital and 4 Other Investors
WLAN Infrastructure
Bluesocket (1999, Burlington, $27M)
Virtual WLAN service provider
Stage: Acquired
Vesbridge Partners, Menlo Ventures, Boulder
Extricom (2002, Tel Aviv, $23M)
WLAN systems for Video, voice and Data Services
Stage: Acquired
Magma Venture Partners, Vertex Ventures,
Motorola Mobility and 1 Other Investors
Jose, $22M)
Stage: Acquired
Battery Ventures, Fidelity Ventures, Norwest
WLAN Infrastructure
DrayTek (1997, Hsinchu, $350k)
IPO Date Sep 2004 IPO Mcap -
TPE 6216
IPO Date Apr 1999 IPO Mcap $813M
NASDAQ EXTR
Stage: Acquired
Axiom Venture Partners, Furneaux Capital

232
WLAN Infrastructure
Cloud
Mojo Networks (2003, Mountain View, $69.4M)
Cloud Managed WiFi Access.
Stage: Acquired
Presidio Partners, Granite Ventures, ForgePoint
Network Management
Superclick Networks (1997, Montreal, $2.3M)
Network Management solutions for multi room
institutions
Stage: Acquired
IPO Date Oct 2011 IPO Mcap $1.3B
NASDAQ UBNT
Wimark (2014, Moscow)
Software-defined wi-fi network management
solutions provider
Startupbootcamp, Skolkovo Foundation
Mesh Networks
KNL Networks (2011, Oulu, $12.7M)
Mesh Radio Networks for security, defence and
shipping industries
Creandum, Butterfly Ventures, John Lindfors and 1
Other Investors
SenseGiz (2013, Belgaum, $500k)
Bluetooth beacon-based mesh network for IoT
applications and consumer wearable devices
kitven Fund
MTC MESH (2016, Singapore)
Mesh network for enterprise IoT equipment
communication

233
WLAN Infrastructure
WiFi Connectivity
provider
Testing Solutions
Testing Solutions
Brix Networks (1999, Boston, $61.5M)
IP Application and Network Performance Testing
Stage: Acquired
TELUS Ventures, Castile Ventures
Cape Networks (2013, San Francisco, $50k)
Wi-fi monintoring and testing solutions provider
Root Ventures, Bolt, Highway1
Stifel, Silicon Valley Bank, Cadence Bank and 1
Other Investors
Testing Solutions
Mu Dynamics (2005, Sunnyvale)
Network testing solutions provider
Accel Partners, Benchmark, DAG Ventures and 1
Other Investors
Test and service assurance solutions for network
operators and equipment manufacturers
NASDAQ EXFO
Test and Measurement for Applciations,
Infrastructure
Stage: Acquired
Stage: Acquired

234
Testing Solutions
Simulators
Forward Networks (2013, Los Altos, $28M)
Network testing platform to gain network visibility
and avoid outages
DFJ, Andreessen Horowitz, A Capital Venture and 1
Other Investors
Aticara (2017, Bangalore)
Software-based network traffic simulator solutions
provider
SCALABLE (1999, Culver City)
Wireless network simulation and emulation tools
provider
Stage: Acquired
Summit Partners
Stealth Mode
Stealth Mode
Exaware (2006, Netanya, $176M)
Integrated optical and electronic components on a
single chip
Soonicorn. Stage: Series G
Comcast Ventures, Cisco, Pitango Venture Capital
Nivetti Systems (2014, Bangalore, $1.7M)
Software-defined network OS and switches
provider
Infosys, Trinity Solutions
Suite
Suite
IPO Date Feb 1990 IPO Mcap -
NASDAQ CSCO
Hewlett Packard Enterprise (1939, Palo
Alto)
IPO Date Oct 2015 IPO Mcap -
NYSE HPE
NYSE JNPR
San Jose)
Stage: Acquired
Globespan Capital Partners, HighBar Partners, Bay

Funded Deadpooled Companies
235
Enterprise Networking > Appendix > Funded Deadpooled Companies
Funding Company Location
$40M Ozmo Devices Palo Alto
$34.6M Anagran Sunnyvale
$32M Bang Networks San Francisco
$30M Infineta Systems San Jose
$25M Certeon Burlington
$25M VelloSystems Menlo Park
$21.7M Netsocket Plano
$5.4M Little Red Wagon
Technologies
Glen Burnie
$3.2M Landmark
Networks
Los Angeles
$2.2M Gnodal Bristol
$1.6M Akanda San Francisco
$1.1M Appshare Glasgow
$340k CipherGraph
Networks
Bangalore
$206k Teneno Hyderabad
Oricane Lulea
HighStreet
Networks
North Andover
Terago
Communications
Andover
Funding Company Location
Luminus San Francisco
Luma Networks Sydney
Zikk Software Tel Aviv
ZNYX Networks Fremont
N42 San Francisco
Nortel Networks Houston
Index of Deadpooled companies in Enterprise Networking
1. Excludes all details for Chinese companies. 2. View all 46 Deadpooled companies on Tracxn Platform

Krishna Chaitanya Kamisetty
Manager - Sector Specialist
Sathamchetty Balachander
Manager - Sector Specialist
Team
236
For research queries write to us at myanalyst@tracxn.com

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