In a major step toward realizing its goal of turning Internet infrastructure into a utility for businesses, Meter has raised $35 million in a new investment round. This capital infusion, led by Sam Altman and Lachy Groom and supported by prior backers Sequoia, John Bicket and Sanjit Biswas of Meraki, and VMware pioneer Diane Greene, would be a significant step in Meter’s journey to redefine network services for the modern enterprise.
As an innovative internet infrastructure provider, Meter has made a name for itself by providing Network as a Service (NaaS) solutions that would make it easier for companies to establish and maintain their network systems. “Over the past decade, we set out to build a modern utility, and we’ve seen incredible progress towards that goal in the last year alone,” said Anil Varanasi, CEO and co-founder of Meter, reflecting on the company’s efforts. “Our goal of enabling companies to operate in locations with Meter‘s infrastructure by just turning it on is starting to come true.”
With the help of automation and simplification, the company’s NaaS offering seeks to do for networking what AWS accomplished for cloud infrastructure: freeing IT teams to concentrate on strategic innovation rather than operational responsibilities. With Meter’s platform, users may have complete control over network elements including routing, switching, wireless, security, and SD-WAN. These can all be accessed via a dashboard that is maintained online and functions as a virtual replica of the real network.
This method would encourage interoperability and improve network visibility and configurability. This would enable companies to grow operations more effectively and save expenses. Meter‘s dedication to providing “a smooth and user-friendly networking experience” would be shown by the use of proprietary hardware, firmware, and software along with services ranging from ISP purchase to ongoing administration and maintenance.
Rethinking Connectivity Solutions
Investor Lachy Groom emphasized that companies still find it too expensive and time-consuming to install secure and dependable Internet infrastructure, underscoring the urgent need for strong internet connection across all sectors. He commended Meter for its thorough rethinking of connectivity solutions and expressed faith in the company’s ability to spearhead a revolution in the way companies use and maintain their internet infrastructure.
Meter has announced impressive growth numbers in the wake of its most recent fundraising round, including a tripling in Annual Recurring Revenue (ARR), total square area covered, and the number of networks installed, in addition to a doubling in client logos. The firm now has an impact on over 125 cities in the U.S. and Canada, influencing people’s lives in a variety of sectors from retail to healthcare. With this development, Meter claims to have has solidified its position as a major leader in the networking industry, well-positioned to meet the changing digital demands of companies operating in a globally interconnected marketplace.
