Forward Networks, a technology company specializing in digital twin technology for enterprise networks, has raised $50 million in a recent funding round. The funding will be used to further develop and market the company’s digital twin technology, which aims to help businesses model, manage, and secure their complex networks.
Digital twin technology creates a virtual replica of a physical system, allowing businesses to simulate and analyze network behavior in a controlled environment. This can help organizations identify and resolve issues before they impact production, as well as optimize network performance and security.
According to Forward Networks, their digital twin technology can also be used to ensure compliance with industry regulations and standards, such as HIPAA and PCI-DSS.
The funding round was led by GV (formerly Google Ventures) and included participation from existing investors Andreessen Horowitz, Lux Capital, and Founders Fund.
“As more and more companies move their operations to the cloud, the need for robust network management solutions becomes increasingly critical,” said GV General Partner Karim Faris. “Forward Networks’ digital twin technology represents a major step forward in this space, and we’re excited to see how it will continue to evolve and support enterprise customers.”
With this new funding, Forward Networks plans to expand its team and continue developing its digital twin technology to meet the growing demand for network management solutions in the enterprise market.