Seamless interconnectivity and data transport have become essential for enterprises seeking business growth and market expansion.
One company that recently acquired significant funding to meet this burgeoning demand is PacketFabric, which announced it has secured $25 million in Series B funding from lead investor NantCapital. The company has achieved strong growth since completing seed round funding in 2015, and now operates a domestic footprint here in the U.S. that includes over 150 Points of Presence (PoPs) over a terabit-scale backbone across 17 metropolitan markets.
“As a scientist and entrepreneur, I am a firm supporter of market disruptive innovations,” said Dr. Patrick Soon-Shiong, Chairman and CEO of NantWorks. “This next-generation internet innovation of interconnectivity on demand will enable big data transport as a platform for multiple industries, and I am excited to fund this talented team at PacketFabric and their efforts to provide market-defining solutions. By eliminating barriers with its innovative solutions aimed at accommodating enterprises’ need for data transport, PacketFabric has the ability to change the landscape for many industries.”
PacketFabric also announced that Chad Milam has joined the company as President and Chief Operating Officer, and as a member of the board of directors. Mr. Milam previously served as CTO of Nantworks and Mox Networks. Before Nantworks, he led the Teza Technologies Technical Infrastructure and Systems team, and the Global Infrastructure organization at Publicis Group S.A.
“With the proliferation of performance, security and capacity challenges, and adding on the recent development in net neutrality, the public internet is becoming an increasingly vulnerable venue for enterprise collaboration and service delivery,” stated Milam, President and COO of PacketFabric. “PacketFabric is the framework of how businesses securely connect, communicate and transact in the new digital reality.”
To learn more about PacketFabric, click here.
