SANTA CLARA, Calif. - TelAve -- netElastic, an innovative software company providing high-performance virtual routing solutions, announced today that it achieved 175% USD year-over-year revenue growth in 2023, fueled by growing demand for software-based, disaggregated networks. In 2023, netElastic added 79 new customers and 31 new channel partners. netElastic also surpassed 3 million end users globally. This reinforces netElastic's position as an attractive alternative to proprietary, expensive vendors like Cisco and Juniper.

"Our growth reflects the success customers are having with our solutions," said Weixiao Liu, netElastic CEO. "netElastic vBNG was one of the first vBNGs to achieve one terabit of throughput and is helping service providers keep up with increasing bandwidth demand, while our software-based solutions are also significantly lowering total cost of ownership. Our strategy of leveraging virtual routing leadership and excellent customer support has been a winning formula, and our ongoing relationships with our customers continue to help us make our products even better."

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"netElastic continues to increase its global presence as broadband service providers worldwide embrace netElastic's value propositions of greater scalability, high performance, and ease of use," said David Williams, netElastic SVP, Sales and Marketing. "Network disaggregation is shaping the future of telecom, and netElastic vBNG and CGNAT are helping service providers to benefit from it easily."

About netElastic
netElastic is an innovative software company providing high-performance routing solutions for broadband service providers. netElastic developed one of the first software-based (or virtual) broadband network gateways and has been a leader ever since. netElastic vBNG brings greater scalability, flexibility, and lower costs than traditional BNG solutions.

netElastic CGNAT helps broadband providers conserve IPv4 addresses while ensuring a smooth transition to IPv6. netElastic's software-based CGNAT also offers the lowest TCO in the industry.