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In our first year in the Gartner® Magic Quadrant™ for Network Firewalls, Versa has been placed as a “Visionary” 1. This comes as no surprise given that Versa has been a leader in the emerging Access Service Edge (SASE) market of which network firewalls are a critical component. This past year has been historic for Versa as we continue to invest and innovate with our product offerings; delivering unique and differentiated value to our customers and partners.
Versa stays committed to our vision of converging networking and security to offer a superior solution to the market that protects users, devices, and applications anywhere in the world. As a visionary, Versa has shown our innovation and success with our 15th patent for SASE and Versa customers reporting an 80% reduction in costs when deploying Versa SASE. Investors such as Sequoia Capital are also confident in the continued growth of Versa Networks as they and others invested in the most recent Series D funding of $84 million which is being put towards cementing Versa’s leadership position in the Secure Access Service Edge (SASE) market.
Gartner announced that Versa Networks is a Visionary in the 2021 Magic Quadrant for Network Firewalls which we believe is due to our innovation and vision in a space that is largely regarded as a traditional security bulwark. According to Gartner, “Network firewalls secure traffic bidirectionally across networks.” 1 Network firewalls have always been a staple in an organization’s security strategy but with the recent changes in how people work, perimeter security has expanded to meet new use cases. Gartner explains that “Network firewall platforms can be defined as hardware firewalls (of different sizes), cloud workload protection firewalls, and FWaaS offerings from the same vendor.” 1
The change in how organizations implement perimeter security is exacerbated by the move to the work-from-anywhere model that employees have grown accustomed to following the pandemic. According to Gartner, “by 2025, 30% of new deployments of distributed branch-office firewalls will switch to firewall as a service, up from less than 10% in 2021.” 1 Firewall as a service, or FWaaS, helps bring traditional network firewall capabilities into the cloud which allow organizations to extend their corporate security policies to users and devices anywhere.
We believe this recent recognition is also on the back of a record year for the company, where the growth of the remote workforce due to the COVID-19 pandemic gave way to organizations looking to consolidate their networking and security services in an easy-to-use, centralized management console to deliver secure access and optimized connection. Due to our product innovation that meets the demands of a work-from-anywhere model, Versa Networks has seen our worldwide sales in enterprises and channel partner registrations double, increased our workforce by 25 percent, and grew our market share to 150 service providers, including seven of the world’s top 10.
Versa will continue to bring innovative solutions to the market to combat the market’s piecemeal network security products that do not provide a cohesive approach to securing cloud-based applications, direct Internet access, unmanaged devices, and mobile users connecting from anywhere in the world. Our recent recognition is only a small testament to the large strides we are making.
Note 1 – Gartner, Inc. “Magic Quadrant for Network Firewalls,” by Rajpreet Kaur, Jeremy D’Hoinne, Nat Smith, and Adam Hils, on Nov. 1, 2021.
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