Versa Secures $120M in Pre-IPO Round Led by BlackRock

Versa Networks, a leader of single-vendor secure access service edge (SASE) platforms, has secured additional financing of $120 million. The pre-IPO round was led by funds and accounts managed by BlackRock Inc. Silicon Valley Bank (SVB) also participated in the funding.

This round of funding enables Versa to expand go-to-market strategies and accelerate on its SASE innovations while setting the company on its planned IPO path.

Versa Networks CEO Kelly Ahuja (pictured) said, “This funding will allow us to expand our go-to-market and accelerate new innovations that will further expand the market opportunity for us as a company.”

Apurva Mehta, co-founder and CTO of Versa added, “We are the only company that offers a fully integrated single-vendor SASE solution. We saw this opportunity in the market coming more than five years ago, and since then have been providing enterprises around the world with a truly modern secure network. It is exciting that the rest of the industry now recognizes the real value and benefits that single-vendor SASE can provide.”

Versa co-founder and Chief Development Officer Kumar Mehta said, “Enterprises are waking up to the power of more efficient and integrated security and networking infrastructure for the expanding attack surface. Support from marquee name investors like BlackRock is a testament to not only our leading innovative technology but to our ethos as a platform company. We look forward to working with BlackRock and all our investors as Versa enters this important pre-IPO phase of the business.”

Versa’s single-vendor SASE platform delivers best-of-breed functions that integrate and deliver services via the cloud, on-premises, or as a blended combination of both via VOS with a single-pass parallel processing architecture and managed through a single pane of glass.

Versa delivers SASE services such as secure SD-WAN, next-generation firewall, next-generation firewall as a service, unified threat management (UTM) including advanced threat protection (ATP), secure web gateway (SWG), zero-trust network access (ZTNA), cloud access security broker (CASB), data loss prevention (DLP), remote browser isolation (RBI) and user and entity behavior analytics (UEBA).

Citi acted as the exclusive advisor and placement agent to Versa in the transaction.

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