Waterloo's Auvik Networks Raises $6 Million from BDC Venture Capital IT Fund and Others

Posted by Techvibes NewsDesk

Waterloo-based Auvik Networks has secured a $6 million first round of funding from Celtic House Venture Partners, Rho Canada Ventures, BDC Venture Capital IT Fund, and its founders.

The Canadian startup has some serious names behind it: Marc Morin (­founder of both PixStream, which sold to Cisco, and Sandvine); David Yach (ex-­CTO at BlackBerry); and Alex Hoff (product manager for Sandvine). Auvik says the funding will allow it to "accelerate the development and initial commercialization of its cloud managed network automation platform."

Auvik’s software brings simplicity and automation to what today is a complex and tedious function. According to the company, the core technology is a proprietary compiler that constructs network configurations from abstract business requirements—this allows IT to approach networking very differently, focusing on supporting business goals rather than worrying about network configuration.

Auvik says that the platform enables anyone in IT "to easily configure, monitor and manage network devices and applications." SMB’s and smaller enterprises will benefit from best practices that are automatically implemented by the platform, according to the startup, resulting in a more reliable, secure and agile network, without the need to add in house expertise.

“We believe networks and related applications shouldn’t be complicated to configure, monitor and manage," says Morin, the CEO. “They should just work.”

Auvik will be priced in three tiers called See, Tell and Do, which range from free to a fee of $12 per month. The paid service will cover such things as data collection and 24-hour support.

“Software Defined Networkin will usher in a renaissance for the networking world," he continued. "We embrace this way of thinking, which shifts the focus from hardware to software, unlocking the latent capability in networking hardware and spurring new and innovative applications. Our cloud managed network automation platform brings many of the advantages of SDN to your existing network.”

Auvik is hiring. Check out their opportunities on the Techvibes Job Board.

Company:
BDC Capital
Website:
http://www.bdccapital.ca
Location:
Montréal, Québec, Canada

A subsidiary of the Business Development Bank of Canada (BDC), BDC Capital offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1 billion under management, BDC Capital takes a strategic, patient approach to nurture companies’ development over the long term. From venture capital to equity to growth and transition... more

Company:
Rho Canada
Website:
http://www.rho.com
Location:
Montréal, Québec, Canada

Rho Canada, based in Montreal, is dedicated to backing leading, early-stage technology-based companies in Canada. Formed in 2006, Rho Canada is affiliated with Rho Ventures in the US and leverages off Rho Ventures' 25+ years of experience in investing in venture-stage companies. The Rho Canada team is led by Jeff Grammer and Antoine Paquin, serial entrepreneurs who have previously successfully built, as CEO's, a... more

Company:
Auvik Networks Inc.
Website:
http://www.auvik.com
Location:
Kitchener, Ontario, Canada

At Auvik Networks, we believe that networking is too complex in the IT environment. Unless you have a dedicted team of networking engineers it's hard to make time to stay on top of the best practices for monitoring and securing your network, let alone actually configure everything. The result is an inflexible network that can't keep up with the latest trends. Auvik wants to make networking easier. Through the use... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more




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