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SUNNYVALE, Calif., May 13, 2019 (GLOBE NEWSWIRE) -- Webscale®, the Digital Cloud Company and the leader in converged software for hyperscale cloud automation, announced today that it has secured a $14 million Series B round of financing led by Mohr Davidow Ventures with participation from Benhamou Global Ventures and Grotech Ventures. The investment represents a powerful validation of Webscale’s software stack for Layer 4 - 7 services and integrated multi-cloud platform for digital commerce. The Webscale platform is disrupting the $120B infrastructure market of legacy load balancers, application delivery controllers, and web application firewalls, commonly patched together by managed hosting and cloud managed service providers.
The Series B financing builds on an outstanding year for the company. The Webscale platform levels the playing field for retailers, enterprises, and digital brands competing with the likes of Amazon and Walmart by delivering 100% uptime, next-generation cybersecurity, bot management, application performance, image management, and cloud automation powered by machine learning. With more than 100% YoY revenue growth, Webscale now delivers over 1,000 fast, secure, and scalable digital storefronts in seven countries, for customers including six of the Fortune 1000, such as Puma, Unilever, Hanes, Ferguson, Tommy Hilfiger, Cineworld Group, and others.
“Webscale is positioned perfectly at the intersection of two rapidly growing, multi-billion dollar markets – digital commerce and cloud transformation,” said Jim Smith, General Partner at Mohr Davidow Ventures. “Enterprise and mid-market brand owners are transitioning away from static hosting infrastructure, and are eager to leverage the benefits of hyperscale cloud providers. Webscale must be the first call for any business embarking on this digital transformation journey.”
“Fully-automated provisioning, configuration, and management of cloud-based applications is a critical need for digital businesses who want speed and agility, without losing focus on innovation,” said Anik Bose, General Partner at Benhamou Global Ventures. “For enterprise customers, Webscale’s converged automation software solution delivers on these goals by leveraging web application delivery, cybersecurity, and machine learning.”
“Webscale continues to claim market share from legacy incumbents in the hosting, web application delivery, and security markets,” said Sonal Puri, CEO at Webscale. “Innovation and a relentless focus on customer success are responsible for our impressive revenue growth, coupled with a product offering that encompasses all the key capabilities needed to execute on the promise of the cloud.”
The new funding round will help Webscale further accelerate growth, international expansion, customer success, and channel velocity.
About Mohr Davidow Ventures
For over 30 years, the Mohr Davidow Ventures team has invested in early stage technology-based startups that redefine or create large new markets. San-Mateo, California-based MDV partners with exceptional entrepreneurs to build companies where big data, applied analytics, and the reach and power of the web/mobile cloud can be leveraged to drive emerging opportunities in verticals ranging from ecommerce, education, and finance to digital marketing, work force innovation, and consumer-driven healthcare. Leading companies funded by Mohr Davidow Ventures include: Adamas; Agile; Brocade; Coupa; HealthTap; Hotchalk; Kabbage; nlight Inc; OpenDNS; Pacific Biosciences; Proofpoint; Rally Software; Rambus; Rocket Fuel; Shutterfly; Ticketfly; Webscale; WorkFusion; and Verinata. More information: visit www.mdv.com.
About Benhamou Global Ventures
BGV is an early-stage venture capital firm with deep Silicon Valley roots and an exclusive focus on B2B startups targeting digital transformation of enterprises globally. The BGV team has successfully built and implemented a cross-border venture investing model with companies from Israel, Europe, and Asia. BGV currently has 33 active companies in its portfolio, with a majority conceived outside Silicon Valley and now headquartered in the U.S. The fund was founded by Eric Benhamou, former chairman and CEO of 3Com, Palm, and co-founder of Bridge Communications. Comprised of an experienced partnership team of global operating executives and investors, BGV is often the first and most active institutional investor in a company and has a powerful network of technical advisors, executives, and functional experts who actively engage with its portfolio companies. The company has offices in Palo Alto, California, Tel Aviv, Israel, and presence in France and India (through Arka Venture Labs).
Webscale, the Digital Cloud Company, is the leader in converged software for hyperscale cloud automation. Delivered as-a-Service, the Webscale platform allows businesses of all sizes to benefit from infinite scalability, load balancing, high performance, outage prevention, improved security, and simple management in multi-cloud environments, including Amazon Web Services, Google Cloud Platform, and Microsoft Azure. Webscale enables digital transformation for B2C, B2B, and B2E e-commerce and enterprise customers in seven countries and for six of the Fortune 1000 businesses. The company is headquartered in Sunnyvale, CA, with offices in Boulder, CO, and Bangalore, India.
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