Two years ago, The Fabric observed the disruptive trend of broadband, mobility and cloud services and looked to co-create a venture that can leverage those trends and build value in the white space. Accordingly, the question The Fabric went out to answer along with the lead entrepreneurs of VeloCloud was: Can cloud-networking be applied to the enterprise WAN market?
Through the auspices of extensive industry and eco-system expertise, The Fabric was able to identify innovators in the space who shared the same passion to invest in startups to realize this idea. The Fabric joined forces with that exceptional entrepreneurial team (Sanjay Uppal, Steve Woo and Ajit Mayya) and co-founded VeloCloud.
The combined team set out to validate the concept using its typical ideation process of market research, as the first step in the co-creation process. We discussed the idea with several appropriate folks in the ecosystem including prospects, potential partners and industry luminaries to refine and identify the opportunity in the space. The “A-ha moment” came during when the harried head of IT of a mid size hotel chain posed the question to our team: Why am I not able to use the same high-speed cheaper broadband network that I use for my hotel guests to deliver my corporate application services?
The team then hypothesized the solution: If enterprises could get the same level of security, reliability, visibility, and controls to apply corporate policies while leveraging the higher bandwidth speeds and the fastest path to my distributed data centers and cloud applications, then that would be the ideal approach.
Thus was born the vision for VeloCloud shared amongst the founders and The Fabric. The Fabric then not only seed funded VeloCloud, but continued to work closely with the VeloCloud founding team to further validate and refine the minimum viable product (MVP) via many additional market research and product design discussions.
After a year of work to the initial question of applying cloud networking to Enterprise WAN, the answer is quite clearly a resounding “Yes!”
Backed with $21 million in venture funding from The Fabric, NEA and Venrock, VeloCloud will soon bring a Cloud-delivered WAN solution. Truly a disruption in market estimated at $32 billion by Gartner and Forrester Research. The Fabric team is co-celebrating this success of the co-creation process with VeloCloud. For those curious about the co-creation details please look up our website.
It is very clear that the trend of network function virtualization, SDN, cloud and mobility has changed the nature of how network WAN services should be delivered. We are really excited and proud to be associated with the VeloCloud team that is profoundly revolutionizing the network infrastructure space. Go Team VeloCloud!
More on the revolutionary VeloCloud’s cloud-delivered enterprise WAN solution when VeloCloud launches its service. Stay tuned.
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