Avi Networks Announces $60 Million in Series D Financing

Intent-based application services company Avi Networks closed its oversubscribed $60 million Series D financial round led by Cisco Investments, along with DAG Ventures, Greylock Partners, Lightspeed Venture Partners, and Menlo Ventures.

The Avi Vantage application delivery controller (ADC) platform is designed to deliver automated application services with a software load balancer, an intelligent web application firewall, and an elastic service mesh for container-based applications. As businesses shift their operations to clouds such as Azure and AWS, Avi’s intent-based software plans to offer easier management, faster performance, greater elasticity, deeper analytics, and more powerful automation than legacy ADC vendors. The company says Global 2000 enterprises use Avi to replace legacy load balancers, adopt public clouds, automate private clouds, and deploy microservices, and it claims it tripled its customer list in 2017 by signing Adobe and global banks.