Addition to Series B Round of Funding to Help Propel Teridion as it Expands Growth in Global Enterprise Market
SAN FRANCISCO — April 4, 2019 — Teridion, the company delivering the only public cloud-based WAN service backed by a carrier grade SLA, today announced that it has closed $9 million in financing, led by Jerusalem Venture Partners (JVP), with participation from existing investors Magma Ventures and SingTel Innov8. The financing, an addition to its Series B round of funding, brings the company’s total funding to $35 million.
Teridion delivers Teridion for Enterprise, the industry’s first and only public cloud-based WAN service to deliver carrier grade, SLA-backed performance and reliability with the agility, elastic scale, and global reach of the public cloud. Teridion’s cloud-based WAN service is powered by Teridion Curated Routing, an innovative and cloud native approach to routing that draws on the power of deep learning that brings hierarchical and centralized routing to enterprise networking to radically improve WAN, application and SaaS performance.
“Enterprise networking is radically evolving,” said Gadi Porat, Partner at JVP. “The Internet is the new LAN, and Teridion is pioneering the use of the powerful capabilities of the public cloud in enterprise networking, the same way public cloud providers caused a revolution in data center compute. Teridion’s curated routing and ability to deliver a high performance, highly reliable WAN globally at broadband price points illustrates the power and capability of the Cloud edge. We see a significant opportunity with this investment, and look forward to working with Teridion as they continue to innovate in enterprise networking and the Cloud edge.”
“We have proven the Teridion technology and the business model with our SaaS offering for the past 3 years, and this new investment further enables us to bring our service to the enterprise market,” said Saar Gillai, CEO of Teridion. “We have seen strong traction among enterprise customers, channel partners, and technology partners since our Teridion for Enterprise announcement last November, and we are aggressively entering this new market with expanded sales and marketing efforts.”
Today enterprises are moving business critical applications from the enterprise data center to the cloud, and focusing their WAN high performance, cost effective, and agile WAN services and next-generation SD-WAN. With Teridion for Enterprise, enterprises can benefit from accelerated and highly reliable traffic to SaaS applications, public cloud workloads, and between their sites, through a low-cost standard Internet connection.
About Jerusalem Venture Partners (JVP) – Jerusalem Venture Partners (JVP) is an internationally renowned venture capital fund based in Israel. Established in 1993 by Dr. Erel Margalit, JVP has raised to date $1.4 billion across nine funds, and has been listed numerous times by Preqin, and other rankings, as one of the top-ten consistently performing VC firms worldwide. JVP has built over 130 companies, leveraging a broad network of partners and market expertise to help companies become global market leaders. Among the pioneering firms of the Israeli venture capital industry, JVP has been instrumental in building some of the largest companies out of Israel, facilitating 12 Initial Public Offerings on NASDAQ including CyberArk Software (NASDAQ: CYBR, $3.6 billion mkt. cap.), QLIK Technologies (NASDAQ: QLIK, then $2.5 billion mkt. cap.) and Cogent Communications (NASDAQ: CCOI, $2.3 billion mkt. cap.). https://jvpvc.com/
About Magma Ventures – Magma Venture Partners is a leading venture fund, focused on Israeli-related investment opportunities. The Fund is one of the most successful venture funds globally, with exceptional performance results. Magma Venture Partners, founded in 1999, was the first to partner and invest with a long list of leading Israeli technology success stories in the communications, mobile, internet, software and semiconductor domains, creating over $2 billion in exit value. Among these acquisitions are Waze, acquired by Google (NASDAQ: GOOG); Onavo, acquired by Facebook (NASDAQ: FB); Provigent acquired by Broadcom (NASDAQ: BRCM); Wintegra, acquired by PMC-Sierra (NASDAQ: PMCS); and DesignArt, acquired by Qualcomm (NASDAQ: QCOM), Hola, Argus acquired by Continental (DE: CON), Hexatier acquired by Huawei; Cloudendure acquired by Amazon (NASDAQ: AMZN); and Corephotonics acquired by Samsung. Additional distinguished investments of Magma include: Valens, Appsflyer, Applitools Innoviz, and others.
About Singtel Innov8 – Singtel Innov8 is a corporate venture capital fund of Singtel, Asia’s leading communications technology group. Singtel Innov8 has its own set of decision-making, approval and funding processes. It has a fund size of US$250 million, with presence in Singapore, Silicon Valley, Tel Aviv and other markets. Innov8 focuses its investments on technologies and solutions that lead to quantum changes in network capabilities, next-generation devices, digital content services and enablers to enhance customer experience. It works closely with the ecosystem of leading innovators, developers, government agencies, R&D and capital providers to bring cutting-edge technologies and solutions to the various markets the Singtel Group operates in.
About Teridion – Companies depend more and more on the Internet as a primary means of networking, including application delivery and wide area networking. Teridion enables faster and more reliable Internet with Teridion Curated Routing, radically improving Internet performance up to 2X – 20X, anywhere in the world. Teridion for Enterprise combines the performance, reliability, and SLAs of legacy WAN technologies such as MPLS with the agility and elastic scalability of the cloud. The company is backed by leading venture investors including Jerusalem Venture Partners, Magma Venture Partners and Singtel Innov8, and is relied on by leading SaaS providers such as Atlassian, Box, Egnyte, Merrill Corp., and many others. Teridion is headquartered in San Francisco, with international offices in Petah Tikva, Israel. For more information, visit www.teridion.com or email info@teridion.com.
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