CloudGenix snags $65M as it eats into Cisco's market share

Cromwell Schubarth
CloudGenix snags $65M as it eats into Cisco's market share

Fast-growing CloudGenix Inc. has raised $65 million in new funding to help it win software defined-wide area networking (SD-WAN) customers away from Cisco Systems Inc. "Cisco is the primary incumbent in the space that we operate in and we have had a very strong win rate against them, around 90 percent," Kumar Ramachandran, founder and CEO of San Jose-based CloudGenix, told the Business Journal. It's a rival that Ramachandran knows well, having worked at San Jose-based networking giant Cisco for 11 years, including as head of product development in its wide area networking business. “We are leading a revolution in the networking industry," Ramachandran said, crediting his company's 300 percent annual revenue growth to the move to the cloud by large companies in the banking, retail, manufacturing, healthcare and technology industries.