Bangalore: Aryaka Networks Inc., which provides cloud-based services that reduce bandwidth usage and ‘delay’ concerns for companies, has raised $15 million in its second round of funding from investors, led by Nexus Venture Partners. Its existing investors Trinity Ventures and Mohr Davidow Ventures also participated in the round.
Aryaka will use the corpus raised to accelerate the adoption of its software as a service model for data transfer and application delivery in mid markets. The firm has earlier raised an initial financing round of $14 million. “This round will be used to fuel sales and marketing and to push into growth markets across Asia and Europe,” said Ajit Gupta, founder and chief executive of Aryaka.
According to information technology research and advisory firm Gartner Inc., over the last five years, the WAN (wide area network) optimization market has risen from a $700 million market in 2006 to an expected $1.9 billion market in 2011. The overall market size will increase ten-fold over the next 5 years with the inclusion of cloud-based solutions for WAN optimization and application acceleration, Gartner estimates.