Aryaka Closes $15 Million in Series B Funding
Date: Friday , July 01, 2011
Aryaka, a provider of cloud-based WAN optimization and application acceleration solution, closed a $15 million Series B funding round, bringing the total investment to $29 million. The round was led by Nexus Venture Partners along with Trinity Ventures and Mohr Davidow Ventures. This fund will be utilized to increase the adoption of its SaaS model for data transfer and application delivery in the midmarket. The company will also use this to better enable enterprises around the world to deploy WAN optimization solutions in a matter of hours instead of months and without any capital expenditure.
California based Aryaka is solving application and network performance issues face by the distributed enterprise. Ajit Gupta, a seasoned entrepreneur, who had previously attained success with the content delivery network (CDN) company Speadera Network, started Aryaka in 2008. It has been named as 'Cool Vendor' by a leading analyst firm and to the GigaOM Structure 50 list for companies that will shape the future of cloud computing. The company employees 100 dedicated and experienced professionals, and have about 20 customers. Unlike the traditional optimization solutions that requires huge initial investment; Aryaka requires zero initial investment and sports a pay-as-you-go business model which is very helpful for its customers.
Gupta says, “The Aryaka network is fully operational, our new Emergence strategic alliance program is gaining more partners everyday and our customer base is rapidly growing as more enterprises migrate to cloud-based services to drive their business.” Aryaka raised its seed round of funding on September 2010 for an amount of $14 million.