Silver Peak has announced a $90 million strategic investment from TCV, enabling it to speed up its go-to-market expansion plans and cement its position as a primary global provider of SD-WAN and cloud-first WAN edge services.
“With more than $100 billion spent on the WAN every year by enterprises, much of it on technology that pre-dates the cloud, Silver Peak has an enormous opportunity as we deliver disruptive new WAN edge solutions for enterprises,” said Silver Peak founder and CEO, David Hughes.
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“TCV has a proven track record for identifying high-growth markets and investing in those innovative companies with the right solution and the right team in place to achieve market leadership. Our partnership with TCV will help accelerate our growth trajectory, increase our competitive advantages and extend our market leadership. We are excited to work with the TCV team.”
Silver Peak billed TCV as one of the largest providers of capital to growth-stage private and public companies in the technology industry. It backed industry-leading companies including Airbnb, ExactTarget, Genesys, Netflix, Rapid 7, Redback Networks, Splunk, Spotify, and Zillow. With the investment, TCV general partner Tim McAdam will join the Silver Peak board of directors.
“To truly realise the full benefits of the cloud, enterprises need to move beyond legacy router-centric approaches that are manual, error-prone and ineffective in a cloud-first environment,” said Silver Peak.