LiveAction announced a $36 million Series B round of financing in order to expand operations globally and accelerate feature product development.
New York-based venture capital and private equity firm Insight Venture Partners led the investment round with participation from prior investors Accelerate-IT Ventures and Cisco Investments. As part of the transaction, Insight Managing Director Michael Triplett, as well as Phillip Vorobeychik, senior associate at Insight, will join the board of directors.
Initially developed to aid the U.S. Department of Defense in the operation of its networks, LiveAction features real-time big data analytics for decision-making and deep integration with routers and switches for unparalleled network control.
“In 2014, we completed our Series A round, led by AITV and Cisco, and invested those proceeds to build a powerful visibility platform used by many of the biggest companies in energy, finance, retail and healthcare. Closing our Series B financing enables us to globalize LiveAction,” said Darren T. Kimura, CEO and Chairman of LiveAction. “Insight Venture Partners have helped build successful infrastructure software companies including SolarWinds, Veeam, and Quest Software, and we are looking forward to accelerating our growth via this partnership.”
“We have been impressed with LiveAction’s innovative technology solutions, industry leadership and impressive growth,” said Michael Triplett. “LiveAction’s success is being driven by the management team’s dedication to offering innovative products and services that meet the needs of their clients for comprehensive and easy-to-use enterprise network management. We are pleased to partner with them, as well as AITV and Cisco, in this new phase of global growth.”
“We are proud to continue our investment in LiveAction. Their network management technology continues to help simplify the software-defined WAN (SD-WAN), making Cisco’s IWAN solution an easy upgrade for enterprise customers,” said Jeff Reed, VP of Enterprise Infrastructure Solutions Group at Cisco.
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