Vasona Networks has closed a USD14.6 million series C Round, bringing total funds raised by the company to USD48 million.
The financing builds on global momentum that has seen the company's solutions used by tier-one mobile network operators in four of the world's largest cities, including announced use by Telefónica UK in its London O2 system. The additional venture capital supports these deployments and drives ongoing research and development efforts, such as extension of Vasona Networks' leadership in the emerging edge computing movement. Participants in the funding round include Bessemer Venture Partners, New Venture Partners and NexStar Partners.
"Vasona Networks is succeeding with solutions that improve the bottom line for mobile network operators at a time when budgets are under heavy scrutiny and competition is stronger than ever," says Bob Goodman, a partner at Bessemer Venture Partners and member of Vasona Networks' board of directors. "This new financing underscores Vasona Networks' mobile edge leadership and provides a foundation to continue bringing innovations to market, expand deployments and pursue new opportunities."
Mobile network operators are grappling with massive demand for data services that can burden infrastructure and strain customer experiences. Vasona Networks' solutions resonate in a competitive marketplace with field results demonstrating performance benefits for video and interactive social media apps during congestion, and substantial reduction of service latency. The company is also working with customers to address emerging challenges, like rapidly rising encryption of video and data traffic, which pose management challenges that can negatively impact network efficiency.
"We are working with the world's top mobile network operators on pressing and emerging needs, including the constant pursuit of better mobile experiences," says Vasona Networks CEO Biren Sood. "As operators turn their focus to edge-based traffic management for the most value, flexibility and control, our capabilities best meet business and network demands in any market."
