The SD-WAN vendor Silver Peak today announced a $90 million strategic investment from TCV. TCV specializes in providing capital to growth-stage private and public companies in the technology industry. Companies it has backed include Airbnb, Netflix, Splunk, Spotify, and Zillow. With today’s investment, TCV General Partner Tim McAdam will join the Silver Peak board of directors.
“It’s rare that we see an opportunity to disrupt a massive, entrenched $100 billion technology category,” said McAdam, in a statement, referring to the money spent on the WAN every year by enterprises. “After researching all the players in the multi-billion-dollar SD-WAN market and speaking with enterprise CIOs, it is clear that Silver Peak has the most complete solution, clear market differentiation and traction,” he added.
In an email to SDxCentral, a Silver Peak spokesperson said the investment from TCV will enable it to “aggressively grow its business globally” with an “emphasis on accelerating the hiring of sales teams and investing in our channel go-to-market on a global basis.”
Recent IHS Markit research found that for Q1 2018 Silver Peak earned revenues of $20.2 million, growing 15 percent from the previous quarter. The company’s spokesperson said, “As a private company, we don’t publicly disclose revenue or revenue estimates. That said, we can say that the latest IHS estimate for Silver Peak is directionally correct.”
Silver Peak differentiates itself from other SD-WAN vendors with its Unity EdgeConnect SD-WAN physical or virtual appliance. In addition to advanced SD-WAN capabilities, the appliance includes routing, security, and integrated WAN optimization.
The company recently added a new segmentation and service chaining capability to its Unity EdgeConnect. The new capability allows network administrators to centrally define and orchestrate their security policies and create secure zones across any segment of users, application groups, and virtual overlays.
Also this month, Silver Peak added three new security providers to its security technology alliance: Forcepoint, McAfee, and Symantec. These companies joined existing members Check Point, Fortinet, OPAQ, Palo Alto Networks, and Zscaler.