Earlier this year, Veriflow Systems — mostly based here in Champaign-Urbana from the beginning — announced their Series A round of $8.2M.
Today, they have announced they’re setting up shop in Downtown Champaign’s One Main Building — right next to Volition. Good news for more tech companies heading to Downtown Champaign, infusing more employees and human beings to the heart of the city.
Here’s the press release:
Veriflow Systems, Inc. Announces Expansion in Champaign, IL
San Jose, CA based Veriflow Systems, Inc., has announced its expansion in Champaign, Illinois with the leasing of 4,200 square feet of office space on the 2nd floor of One Main Plaza at 1 East Main Street in Downtown Champaign. Verifow is relocating from its current space at Enterprise Works at the Research Park at the University of Illinois – Urbana Champaign campus. Veriflow will join fellow high tech company, Volition, in occupying the majority of the office space at One Main Plaza.
Veriflow was created by a team of computer science professors and PhD students at the University of Illinois at Urbana-Champaign. Veriflow is the first networking company to use continuous network verification to eliminate network outages and vulnerabilities. Veriflow’s mission is to apply formal mathematical verification to complex networks, preventing outages and breaches that lead to astronomical losses.
Veriflow is backed by a strong team of investors, including New Enterprise Associates, Menlo Ventures, the National Science Foundation, and the US Department of Defense. In October, Veriflow won Barclays 2016 Open Innovation Challenge award, beating out more than 100 global technology companies for the honor. Veriflow was founded by Matthew Caesar, PhD, Brighten Godfrey, PhD, and Ahmed Khurshid, PhD. All three hold Associate Professor positions in Computer Science at the University of Illinois, Urbana-Champaign.
Veriflow is planning to occupy the space at One Main Plaza, after renovations are completed on the existing office space, with a target move date of April, 2017. With their expansion, Veriflow will increase employment in the Champaign market, capitalizing on the strength of the computer science program at the University of Illinois.
“With the physical Tier 1 amenities, access to public transportation and proximity to the university, One Main in Downtown Champaign was an ideal location to for our expansion,” said James Brear President and CEO of Veriflow.
“One Main Development is excited to welcome Veriflow Systems, Inc. to join the prestigious businesses that make their home in Downtown Champaign,” says Dave Jones, President. “As downtown has been evolving back into a central business district, we are pleased that such a respected tech company will be taking advantage of the environment for their own business growth and development. It has been a great pleasure working with the Veriflow team and we are looking forward to welcoming them into One Main Plaza.”
“I’m excited to welcome Veriflow as it expands into Champaign’s booming downtown tech center. World leading technology companies continue to grow and thrive in Champaign, and we welcome the new opportunities and jobs this will mean for our community” stated Champaign Mayor Deborah Frank Feinen.
“Veriflow’s decision to grow in the Champaign-Urbana community is fantastic news,” said Craig Rost, Executive Director of the Champaign County Economic Development Corporation. “Evolving from their location in EnterpriseWorks, the University of Illinois Research Park incubator, into the downtown Champaign location with other high tech employers is the perfect success story for the company and for Champaign County. We look forward to working with Veriflow, another great example of our ‘Heart of Innovation’ legacy here in our community and University.”
One Main Plaza offers retail and office space for lease at its premier location on the corner of Neil and Main Streets in downtown Champaign. Its largest office tenant is Deep Silver Volition, a well-known gaming design firm. Big Grove Tavern, Kofusion, Snow Meets Coffee and Merry Ann’s Diner restaurants occupy the first floor, along with Hada Cosmetic Medicine.
Guth & Associates/Fairlawn Real Estate represented Veriflow Systems in securing their space at One Main Plaza and Coldwell Banker Devonshire Realty represented One Main Development, LLC in the transaction.
Veriflow is the first networking company to use continuous network verification to eliminate network outages and vulnerabilities. The company was created by a team of computer science professors and Ph.D. students at the University of Illinois at Urbana-Champaign, and is backed by New Enterprise Associates (NEA), Menlo Ventures, the National Science Foundation and the U.S. Department of Defense. The company is headquartered in San Jose, California. To learn more, visit veriflow.net and follow us on Twitter @veriflowsystems.
Other Veriflow Information and Links:
Veriflow Wins Barclays 2016 Open Innovation Challenge Award: http://www.veriflow.net/press/veriflow-wins-barclays-2016-open-innovation-challenge-award/
– Veriflow raised $8.2 million to help IT pros avoid network outages and breaches via TechCrunch: https://techcrunch.com/2016/07/06/veriflow-raised-8-2-million-to-help-it-pros-avoid-network-outages-and-breaches/
– They launched their new platform last month: http://www.veriflow.net/press/veriflow-launches-disruptive-network-verification-platform-announces-customer-wins/?utm_source=twitter&utm_campaign=pr_win161115
– They received SBIR funding, Phase I (2013) and Phase II (2014): https://www.sbir.gov/sbc/veriflow-systems-inc
– The company was created by a team of computer science professors and Ph.D. students at the University of Illinois at Urbana-Champaign.
###