The SD-WAN provider Bigleaf Networks announced Tuesday that it has capped off a $4.9 million round of equity investment.
The Beaverton, Oregon-based company says it will use the new financing to increase its sales, marketing, operations, technology development and network footprint. CEO Joel Mulkey founded the company in 2012 to provide a “plug-‘n’-play” SD-WAN option that emphasizes cloud connectivity and supports VPNs.
“This marks a significant step forward for us. While I’m impressed with how well our team has executed over the past few years, I know we can do much more,” Mulkey said. “This funding gives us the resources needed to serve our customers and partners better, at larger scale, in new geographies, and with new features and offerings.”
Menlo Park, California-based GoAhead Ventures led the investment round, which also included Seattle Angel Fund, Oregon Angel Fund and Portland Seed Fund. Takeshi Mori, managing partner of GoAhead Ventures, will join BigLeaf’s board of directors. He says Bigleaf demonstrated differentiation and “solid execution” when GoAhead surveyed the crowded SD-WAN market.
“While the SD-WAN market has grown quickly with several entrants, Bigleaf’s vision of using SD-WAN to build connectivity to cloud applications and services stands out,” Mori said. “After interviewing several Bigleaf customers and partners, it was obvious that there is market demand and Bigleaf is delivering strong value.”
Bruce Chatterly, chairman of a member of Bigleaf’s board of directors, says his company will gain more visibility within its market thanks to the investment.
“The team at Bigleaf consistently executed against their plan and has grown the business the right way,” he said. “As a board member, it’s been fun to watch and participate. I am excited for the team, investors, partners and Bigleaf’s customers.”
Bigleaf has been active in the channel. The company recently signed with TBI and has made partnerships with other master agents, including CNSG and Telarus. Bigleaf last summer earned recognition from Telarus as best new supplier.