Benu Networks, a provider of innovative virtual network solutions that enable service providers to rapidly create and deliver next generation IP services, has announced it has closed a total of USD 17.5 million in two funding rounds over the past 12 months, the company said.
The funding will fuel the addition of product engineering, sales, and support resources needed to meet the rapid expansion of solution trials and deployments throughout the world.
The most recent round of USD 10 million, which closed in July 2018, was led by new investor Spring Lake Equity Partners, a Boston-based private equity firm that invests primarily in later-stage, technology-oriented private companies.
This followed a funding round of USD 7.5 million led by long-time investors; Sutter Hill Ventures, a premier venture capital firm known for many successful investments in IT/communication infrastructure, and Liberty Global Ventures, a global investment fund owned by Liberty Global, the world´s largest international cable company, which focuses on investing in companies offering products and services that support Liberty Global´s business strategy and broader industry initiatives.
Benu Networks´ Virtual Service Edge (VSE) platform enables network operators to rapidly create new business opportunities for Mobile Wi-Fi, Managed Business Networking, Managed Home Networking, Managed Security, and Managed Internet of Things (IoT). The VSE´s fully virtualized architecture increases deployment flexibility, decreases time-to-market, creates new revenue streams, and seamlessly integrates into an operator´s existing access core network and OSS/BSS assets.
Benu Networks´ carrier-class Virtual Service Edge (VSE) software platform enables the rapid creation and delivery of next generation IP services over a converged infrastructure, and empowers service providers to increase revenue, expand market leadership, and meet the dynamic needs of their business, residential and mobile customers. For more information, visit the Benu Networks´ website: www.benunetworks.com.