Forward Networks, a Santa Clara, CA-based network assurance and intent-based network verification vendor, raised $35 million in a Series C round of funding.
The round was led by Goldman Sachs, which is also one of Forward Networks' customers, with participation from existing investors Andreessen Horowitz, Threshold Ventures, and A. Capital.
This funding would go toward expanding its sales and marketing teams into new regions and additional R&D activities.
"Our customers are seeing dramatic improvements in network availability and operational efficiency by deploying Forward Enterprise," said Forward Networks CEO David Erickson in a statement. "This round of funding is key to expanding our efforts to bring network verification to enterprise customers."
The company’s flagship platform Forward Enterprise gives users breakthrough solutions for network security and reliability, powered by the industry’s most advanced network digital twin.
Forward Enterprise documents, searches, verifies and predicts the behavior of enterprise networks by creating a mathematical model of the entire network infrastructure for both on-prem and in the cloud.
Forward's solution brings the benefits of intent-based networking to large enterprises. Those benefits include more reliable networks, reduced outages, and reduced business risk.
Company: Forward Networks, Inc.
Raised: $35.0M
Round: Series C
Funding Month: January 2023
Lead Investors: Goldman Sachs
Additional Investors: Andreessen Horowitz, Threshold Ventures, and A. Capital
Company Website: https://www.forwardnetworks.com/
Software Category: Network Management
About the Company: Founded in 2013 by David Erickson, Nikhil Handigol, Brandon Heller, and Peyman Kazemian, Forward Networks develops enterprise software for network management and software-defined networking. Three years later, the company launched "Forward Enterprise" to help businesses proactively monitor and map their network traffic in order to identify potential problems before they occur. Forward Networks' flagship product, Forward Enterprise, gives users breakthrough solutions for network security and reliability, powered by the industry’s most advanced network digital twin. Improve network security and SOC efficiency; get end-to-end visibility for multi-cloud environments; and validate security controls. Forward enables network visibility, full path analysis, security policy verification, and change prediction, freeing up time and saving you money.
Source: https://www.forwardnetworks.com/fierce-telecom-forward-networks-snags-35m-in-series-c-funding-round/