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Sequoia backs corporate IP business vIPtela with $33.5m

13 Mar 2014

brain_lrgGlobal venture giant Sequoia Capital has invested $33.5m in corporate intellectual property business vIPtela.

The company’s network architecture focuses on security and network virtualization.

Multiple Fortune 500 customers have endorsed the technology and plan to use it to speed up delivery of new services and dramatically reduce costs in their network infrastructure.

Michael Goguen, a Sequoia partner and vIPtela board member, said, “vIPtela boasts a killer combination – great technology, strong leadership, and a market ripe for disruption.

“I am impressed by the team’s dedication and impeccable execution in delivering innovative networking solutions. Above all, they have great credibility and trust with customers.”

Fellow Sequoia partner and former Google senior VP of engineering, Bill Coughran, said, “vIPtela’s approach to security and control is novel and simplifies the global network connectivity of Fortune 500 companies.

“Enterprises have been looking for innovations that help their network scale without driving costs beyond budgets. vIPtela delivers on that innovation.”

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