The secure access service edge (SASE) is composed of a complex group of networking and cloud software tools, such as software-defined wide area networks (SD-WAN), secure web gateways (SWG), and firewall-as-a-service. SASE itself functions to better deliver cybersecurity tech, and as such, it’s big business right now. Versa Networks is capitalising on this, with its in-cloud and on-premise flexible SASE solutions.
The company faces competition from SASE rivals such as Juniper Networks (where the founders left to launch Versa Networks), and major players like Cisco and Cloudflare. However, startups are pulling in hefty funding, too: Cato Networks is a Unicorn twice over, and Netskope is valued at nearly fourfold that. On top of that, the current SASE market is set to grow from its 2021 $3 billion valuation to $6 billion by 2028.
This should come as no surprise. SASE sits at the juncture of the lucrative and high-growth sectors of cloud computing, cybersecurity, and networking, and is expected to have a sweeping addressable market as more businesses pivot onto the cloud. Versa Networks is set to hold its own against well-funded startups and acquisitive enterprises, exemplified by its "pre-IPO" fundraise of $120 million in 2022. The company has positioned itself to deepen its hold on its slice of the market.
Kirsty
Company Specialist at Welcome to the Jungle