Forward Networks Raises $50M in Series D Funding

Forward Networks

Forward Networks, a Santa Clara, CA-based provider of digital twin network modeling software for enterprise networks, raised $50M in Series D funding.

The round was led by MSD Partners, L.P., Section 32,Omega Venture Partners, Goldman Sachs Asset Management, Threshold Ventures, A. Capital and Andreessen Horowitz. Additionally, Victor Hwang, managing director and co-head of MSD Growth, joined the Forward Networks board of directors.

The company intends to use the funds to accelerate growth, expand operations and its business reach.

Led by CEO David Erickson, Forward Networks provides software that delivers a digital twin of the network, enabling network operators to ensure that the network is secure, reliable, and agile. The platform supports devices from networking vendors and cloud operators, including AWS, Azure, and Google Cloud Platform.

Since its last round of funding in 2019, Forward Networks has quadrupled its customer base, opened new headquarters in Santa Clara, California and extended its development team with an office in Bangalore, India. The company achieved 139% ARR growth from FY2021 to FY2022.