by Kyle Wiggers, writer at VentureBeat
Gluware, a company developing network automation tools for cloud environments, today announced that it raised $43 million in funding led by Bain Capital with participation from Acadia Woods Partners and existing investors. The mix of debt and equity — which values the company “well into the nine figures,” according to a source — will go toward scaling the company’s sales and marketing teams and product R&D, according to CEO Jeff Gray.
It’s estimated that networking practitioners spend up to 55% of their time and resources on repetitive equipment management tasks. According to Cisco, around 95% of network-related tasks are performed manually, causing operational costs of around 2 to 3 times more than the cost of the network. That’s why an increasing number of companies are turning to automation, which promises to free up IT teams while potentially reducing expenses. A 2019 survey found that nearly two-thirds of companies plan to deploy systems that will help them analyze network issues using automation and AI.
“The network … market is complex and fragmented, with legacy tools that cater to highly bespoke static configurations, small-scale single-vendor solutions, or do-it-yourself coding approaches that require significant resources. These approaches break under the scale, scope, and complexity of modern enterprise networks,” Gray told VentureBeat via email.
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