CENX Closes $12.5M Funding Round
OTTAWA -- CENX, a global leader of Lifecycle Service Orchestration solutions for software-defined and virtualized networks, today announced that it has finalized new equity investment totaling $12.5 million USD. New investors BDC Capital, Mistral Venture Partners, and VMware joined the Series D financing round, in which all current investors participated: Highland Capital Partners, Mesirow Financial Private Equity Inc., Verizon Ventures, a subsidiary of Verizon Communications Inc. (NYSE, NASDAQ:VZ), Ericsson (NASDAQ:ERIC), DCM Ventures, and Cross Creek Advisors.
This investment will help accelerate CENX’s global market and portfolio expansion in addressing emerging requirements for Lifecycle Service Orchestration (LSO) for service providers that are evolving to Software-defined Networking (SDN) and Network Functions Virtualization (NFV) technologies. CENX’s Cortx Service Orchestrator is an essential enabler of SDN and NFV deployments, leveraging the power of network big data analytics for dynamic provisioning, visualization and assurance of data services across heterogeneous physical and virtualized networks.
Ever-growing demand for enterprise and consumer Cloud-based applications is driving service providers to change the way they operate their networks, and to turn to software systems that support agile service delivery and real-time service assurance. The LSO market is forecasted to grow at a CAGR of nearly 60%, reaching $2.7 billion by 2019, according to The Rayno Report, fueled by carrier SDN and NFV markets that are increasing 50-80% annually.