Versa Networks, a leading innovator of next-generation software-based networking and security solutions, is continuing to accelerate its momentum as a leader in the software-defined wide area network (SD-WAN), SD-Security and SD-Branch market, garnering more than 150,000 contracted licenses worldwide to-date. Versa's Cloud IP platform is now embraced by more than 50 managed service providers to deliver secure SD-WAN services to multiple segments of the enterprise market. In addition, multiple large enterprises are deploying Versa Cloud IP Platform themselves to transform their WAN securely and accelerate their digital transformation and transition to multi-cloud/SaaS.

The company has also built a robust partner ecosystem of channel, reseller and system integrators, that has grown by 100 percent since 2017, doubling its go-to-market partners. Versa continues to enable and increase revenue opportunities for its provider partners through ongoing innovation in software-defined networking (SDN) and security (SD-Security), as well as network function virtualization (NFV).

"Digital transformation and the transition to multi-cloud/SaaS is driving tremendous growth in SD-WAN and Versa has emerged as a key player in this crowded market," said Kelly Ahuja, CEO of Versa Networks. "Our conversations with prospective customers have evolved from ‘what and why' to ‘when and how'.  Being the only SD-WAN vendor to encompass a full-suite of integrated SD-Security differentiates us, and gives our customers unmatched visibility, control, agility and scalability to meet their business needs. Our innovation, technology leadership and transformative business model is resonating as customers are committing to long term partnerships."

Notable Customer Movement and Deployments

Versa Networks announced Capital One as a customer, whose hybrid approach to SD-WAN deployment has taken the lead in the financial industry. The large financial institution chose Versa Networks because of the company's technology innovation that gave them simplicity, speed and scale. Many others are in the midst of their deployments and the company expects them to publicly share their success with Versa during the course of this year.

Since 2017, more than 50 Service Providers have chosen to partner with Versa Networks including Comcast Business, China Telecom Global, Kalaam Telecom, KDDI, Singtel, Tata Communications, Telesystems, Transtelco, Verizon and VergX. In the first half of 2018, Virgin Media Business, Verizon Business Markets, Zayo, Wholesale Carrier Services, Hub One and others also joined in the extensive list of customer wins.

"Managed service providers gained valuable experience in the first round of their SD-WAN deployments and are entering round two of their software adoption in support of next generation services," said Mike Fratto, Research Director, GlobalData. "Versa Networks' recent service provider wins shows that the managed services market is progressing from single function SD-WAN appliances to SD-Branch offerings with SD-WAN as a foundational capability upon which other virtualized network functions like routing and firewalling are supported on the same platform. Robustness, simplicity, and versatility are key elements for MSPs managing a large and diverse customer base."

In the U.S. alone, CenturyLink was the first Service Provider to partner with Versa for their SD-WAN service. In 2017, Comcast launched their ActiveCore service that is based on Versa. Verizon also launched their Secure Software Defined Branch service with Versa in 2017. Just recently, Verizon Business Markets recently launched the SD-Branch with Versa for small and medium businesses, state and local governments and education institutions.  The new offering combines application-experience routing and SD-WAN functionality, as well as various advanced security services such as firewall, web filtering and unified threat management.

"We've seen a substantial increase of deployments in the SD-WAN market due to the growing networking and security demands of enterprise businesses requiring agility, control and visibility as they move to multi-cloud. Thanks to SD-WAN's deployment success in the early adoption stage, the market is quickly moving towards a rapid growth stage where organizations are now replacing their legacy hardware WANs with secure SD-WAN and SD-Branch solutions," said Ray Mota, CEO & Principal Analyst, ACG Research. "The recent notable customer wins by Versa Networks suggests that the market is positioning SD-WAN with integrated security as the next generation secure networking solution for organizations pushing towards digital transformation and multi-cloud services."