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TCV joined in this growth round by Insight Partners and Tiger Global, as well as previous investors.
FREMONT, CA: Aviatrix, the market leader in cloud networking and network security, announced today that it had secured 200 million dollars in growth capital led by TCV. Insight Partners and Tiger Global joined current investors CRV, Formation 8, General Catalyst, Greenspring Associates, Ignition, Liberty Global Ventures, Meritech Capital, and TrueBridge Capital Partners in the round. Thanks to its Series E fundraising, Aviatrix's valuation has more than doubled in the six months since the previous round.
"Enterprise adoption of a multi-cloud strategy has gone mainstream, which combined with an outstanding team drove our decision to invest in the cloud networking leader of this massive market transformation," said Tim McAdam, general partner at TCV. "Aviatrix's ability to quickly deliver enterprise customer value and establish itself as mission-critical in these large organizations is both impressive and indicative of long-term growth."
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McAdam will also join the Aviatrix Board of Directors as part of the investment round. This growth-stage investment will allow the company to extend its global sales and support operations when businesses are spending heavily on enterprise-class cloud networking and network security.
"The transformation to cloud is being driven by CEOs to deliver business agility," said Steve Mullaney, CEO of Aviatrix. "The cloud network infrastructure can't rely on the horrible, complex operational model of the 1990s data center to deliver on that agility. Enterprises need the visibility and security controls they had on-prem, but with the operational simplicity and automation of cloud. Only Aviatrix can deliver this value."
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