Forward Networks, the Palo Alto-based security company which helps businesses recognize the network traffic has announced that it has raised $35 million as part of its Series C financing. Goldman Sachs is leading the current round of investment in the firm. The others who participated in the round include Andreessen Horowitz, Threshold Ventures, and A.Capital. Prior to this round, Forward Networks has picked up $16 million in the Series B funding which was led by Threshold in August 2017. The current infusion takes the total amount raised by the firm to $62.1 million.
Company co-founder and CEO David Erickson says that the latest capital will boost the expansion of the company's sales, marketing, and R&D programs. Erickson along with Brandon Heller, Nikhil Handigol, and Peyman Kazemian, all of them a Stanford Ph.D. holder had started the firm in 2013. It provides network visibility, policy verification, and change modelling in order to help teams eliminate costly network outages.
Erickson talking about the funding and the firm said, “Our customers are seeing dramatic improvements in network availability and operational efficiency by deploying Forward Enterprise. This round of funding is key to expanding our efforts to bring network verification to enterprise customers.”
Andreessen Horowitz’s Bill Krause, a board partner at the investment firm talking about Forward Network said, “We continue to see the value that Forward Networks’ platform brings to large enterprises running complex networks, They have solved a critical business problem, which presents a real growth opportunity.”
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