North Vancouver, BC, October 19, 2018 — Multapplied Networks Inc., (Multapplied) today announced
the closing of an Oversubscribed Private Placement raising just over $1.2M CDN in cash and services.
“We’re excited to close this Private Placement and bring in some new supports as well as have several of our channel partners participate,” said Johan Arnet, CEO. “It’s a real testament to the strong relationship and confidence that our partners have in our platform.”
Proceeds from the Private Placement will help Multapplied execute on its multi-year growth plan. This plan includes enhancing its Software-Defined Wide Area Networking (SD-WAN) platform, adding new partners, and expanding marketing and sales efforts.
Incorporated in 2013, Multapplied provides Network Service Providers and Managed Service Providers with a white-label SD-WAN platform that drives their business growth. Multapplied SD-WAN provides market-leading link aggregation, efficient bandwidth utilization, and excellent WAN redundancy, fail-over performance and application quality. Service Providers around the globe integrate Multapplied SD-WAN into their product offerings to increase bandwidth at branch offices and drive the growth and performance of their core hosted applications to improve customer satisfaction and accelerate business growth.