IP Fabric, a market frontrunner in automated network assurance, has successfully procured $25m in a Series B funding round.
The funding endeavour was spearheaded by One Peak, with contributions from Senovo and Presto Ventures. This capital injection bolsters IP Fabric’s objective of universalising network assurance, mitigating the considerable risks posed by network failures or outages for individuals, businesses, and governments.
IP Fabric, a trailblazer in network assurance, assists organisations in navigating network complexity, securing network automation, and bolstering network security. Network assurance is gaining traction as a key component for managing private network infrastructure. This infrastructure, immensely larger than the internet, underpins the modern economy and forms the backbone for every facet of contemporary life, from airports and factories to public utilities and financial systems.
Despite this, rising complexity makes it increasingly challenging for human operators to comprehend and manage networks. This renders network automation unpredictable, particularly if organisations cannot discern whether automation has achieved the intended effect, and verify that it hasn’t adversely affected the rest of the network. The escalating complexity also hinders organisations from identifying and mitigating network vulnerabilities, thereby creating blind spots that attackers could potentially exploit.
Pavel Bykov, CEO of IP Fabric, asserted, “Without network assurance, we are leaving network resilience to chance. Amidst rising complexity and the need to ensure control in the face of rising cyber threats while adhering to regulatory compliance, enterprises lack the means to assure operations for their entire network end-to-end.”
IP Fabric, recognised as a Gartner Cool Vendor in Network Automation and ranking 8th in the Deloitte Technology Fast 50, plans to leverage the funding to continue delivering the network assurance needed for smooth operations and innovation, while mitigating the risk of network failure or outages. This is achieved through standardised access to network control data.
In addition to the new funding, IP Fabric has previously experienced significant growth, with a CAGR of 160% over the past four years. Currently, the firm serves over a hundred enterprise customers globally, including Air France, Major League Baseball, Red Hat, HCL Technologies, Avast, and Blackberry.
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global
