- Session Smart Routing company 128 Technology announced that it closed $30 million in Series D funding
128 Technology — a leader in Session Smart Routing — announced that it closed $30 million in Series D funding. The existing investors all participated in the oversubscribed round including executive management and current employees of 128 Technology, G20 Ventures, The Perkins Fund, and individual investors.
128 Technology is on a mission to reinvent the digital futures of companies based on a new model for virtual networking through Session Smart. Session-smart networking enables enterprise customers and service providers to create a service-centric fabric that is simpler, agile, and secure. Plus it delivers better performance at a lower cost.
“The latest round of funding comes at a pivotal time for 128 Technology, when we’re seeing higher than ever demand for our session-based, service-centric networking approach,” said Andy Ory, the CEO of 128 Technology. “As virtualization and cloud are shaping our connected future, 128 Technology’s approach offers users a simple, agile solution and helps enterprises manage their networks efficiently and securely.”
As companies are focused on connecting users with experiences through ambitious digital transformation agendas, the resources and applications delivering those experiences are not like they used to be. The applications are virtualized, distributed, elastic, and cloud-native. And companies must make adjustments to networks to achieve their ambitions.
“Andy Ory and his rapidly growing 128 Technology team have disrupted the multi-billion-dollar market for traditional networking by delivering proven, next-generation network services that give customers freedom from increased risks, unnecessary costs, and vendor lock-in,” said Sonja Perkins, a Managing Director at The Perkins Fund. “As companies around the globe continue to invest in solutions that meet the demands for a new model of virtual networking, 128 Technology has created a large, untapped market opportunity.”
128 Technology’s Session Smart Router is considered the only cloud-defined, experience-based, and natively secure virtual routing solution that helps companies deliver on their digital transformations.
“High bandwidth costs drove CMC Networks to look for an SD-WAN solution that addresses the unique challenges of the Middle East and Africa region. 128 Technology’s Session Smart router transforms our network without tunneling technology, allowing us to provide better service quality to our customers, while deploying the most cost-effective and competitive solution available in the market,” explained Marisa Trisolino, the CEO of CMC Networks. “To date, we’ve realized bandwidth savings of 30-40% compared with other products. We are excited about how the 128T platform will transform the customer experience. Our customers can leverage a lower cost and better-quality solution, allowing for a smooth transition from legacy networking technologies.”
Including this funding round, 128 Technology has raised a total of $97.4 million. And this funding round will be used to invest in key areas of growth, including go-to-market and partnerships and to further develop Session Smart networking as the technical foundation for an experience-led network.
“The SD-WAN market drivers have evolved from simple MPLS replacement to secure and assured virtual and cloud networking,” commented 128 Technology Technical Advisory Board member Tom Nolle. “Only one player, 128 Technology, has consistently led in that new session-smart, cloud-defined mission. With this new round of financing, the company is positioned to not only continue its technology leadership but expand it.”
128 is headquartered in Burlington, Massachusetts along Route 128, which is considered ‘America’s technology highway.’ And the company also has operations throughout North America, South America, Europe, and the Asia Pacific.
