Versa Networks reported strong growth this week and said it surpassed 200,000 SD-WAN licenses sold, 1,000 enterprise customers, and a partner network that now spans 100 service providers.

Perhaps the more impressive figure is the company's rate of growth. In a little more than a year, the company has managed to sell 50,000 new software licenses, double its service provider network, and more than triple its portfolio of enterprise customers.

"We continue to see an acceleration in our business as well as pushing out many new software innovations," said Kelly Ahuja, CEO, Versa Networks, in a statement. "Enterprise customers are demanding a simple yet flexible solution; Versa's sales velocity is indicative of how the market is embracing the breadth and depth of the Versa software-centric offering."

The company's rapid rise in the space has also been propelled by its extensive service provider network, which includes Verizon, CenturyLink, Comcast Business, China Telecom Global, KDDI, Singtel, and Tata Communications.

Indeed, it has been a busy year for the SD-WAN vendor. In April, Versa launched its cloud-managed SD-WAN branch and security service, aimed squarely at managed service providers and mid-market enterprises. Just a few months later, competing SD-WAN vendor Riverbed penned a deal with Versa to offer the company's Secure Cloud IP software platform as a Riverbed-branded service.

According to Dante Malagrino, senior vice president and general manager for Riverbed’s Cloud Infrastructure Business Unit, Versa's platform offered carrier-grade routing and advanced security features that were centrally managed, which made it appealing to Riverbed.

While far from the top of the pack by market share, Versa is seen many many to be a disrupter in the SD-WAN space, according to Brandon Butler, senior research analyst at IDC. In an earlier interview, Butler told SDxCentral that as vendors like Versa and CloudGenix gain ground, the market dynamics could shift.

In an interview with SDxCentral from late June, Ahuja argued that very point after competitor Cisco showcased several updates to its own SD-WAN portfolio that mirrored the steps Versa was already taking. “The best sign of flattery is when someone starts to follow you," he said.

And despite a packed arena, Versa sees ample opportunity for growth.

According to a recent IDC SD-WAN report cited in the company's announcement, enterprise adoption is expected to grow at a 30.8% compound annual growth rate reaching $5.25 billion by 2023.