Big Switch Networks raised $48.5 million in funding, bringing its total to $94 million.
Douglas Murray, CEO of Big Switch Networks
Hyperscale networking solutions provider Big Switch Networks closed its Series C funding round with $48.5 million on Tuesday, bringing the company’s lifetime total to $94 million since it was founded in 2010, according to the announcement.
Big Switch simultaneously announced the appointment of former NetApp CEO Dan Warmenhoven and venture capitalist Gary Morgenthaler to its board of directors.
Investors including Morgenthaler Ventures, Silver Lake Waterman and others sponsored the latest round of funding.
“I am pleased that our performance continues to earn the trust of our customers, partners, and investors, all of whom believe in our mission to disrupt the status quo of networking,” said Douglas Murray, CEO of Big Switch Networks, in a statement.
Big Switch reported more than 300 percent growth in 2015 among customers in the U.S., APAC and EMEA regions, with the company gaining traction in several key verticals, including tech, financial services, government, service providers and higher education. Funding will be used to expand Big Switch’s influence into new markets and develop next generation Data Center Networking solutions, according to the company.
IHS Research estimates that enterprise software defined networking adoption is expected to grow from six percent to 23 percent in 2016, while the market for data center networking is also expected to skyrocket to $13 billion in 2019.