A10 Networks, a San Jose, CA-based provider of Application Networking solutions, secured $115m in capital through an equity financing and a credit facility.
The round was led by Summit Partners, with an $80m equity investment, with Bank of America Merrill Lynch, J.P. Morgan and RBC Capital Markets providing an additional $35m revolving credit facility. In conjunction with the deal, Peter Chung, a Managing Director at Summit Partners has joined A10’s Board of Directors.
The company intends to use the funds for R&D, Customer Support, Sales and Marketing, as well as growth of its global workforce.
Founded in 2004 by Lee Chen, CEO, A10 Networks provides innovative networking and security solutions that allow organizations to accelerate, optimize and secure their applications. The A10 Thunder™ Series, released in May, are Application Delivery Controllers that aim to consolidate premium feature modules and increase data center scalability and efficiency.
The company currently employs 600 people in its offices in 23 countries including the United States, United Kingdom, France, The Netherlands, Germany, Spain, Brazil, Japan, China, Korea, Taiwan, Hong Kong and Australia.