19 January 2018
| Natalie Bannerman
PacketFabric has secured a $25 million investment in series B funding from lead investor NantCapital.
The cash injection will be used to
the rapid growth and growing demand for its
connectivity-as-a-service platform which was launched in
Commenting on the news, Dr Patrick Soon-Shiong, chairman and
CEO of NantWorks, said: "As a scientist and entrepreneur,
I am a firm supporter of market disruptive innovations,"
states. 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
Since its first seed round in 2015, the company has grown to
a US footprint of more than 150 points of presence (PoPs)
across 17 metro markets with a terabit-scale backbone.
In addition to securing funding, the company also revealed
that Chad Milam has been appointed as
PacketFabric’s new president and chief operating
officer, and a member of the board of directors. Before joining
PackeFabric Milam acted as CTO of NantWorks and Mox
Networks. And prior to this he worked as the technical
infrastructure and systems team lead at Teza Technologies, and
the global infrastructure organization at Publicis Group.
"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," said Milam. "PacketFabric is the framework of
how businesses securely connect, communicate and transact
in the new digital reality."
In October, PacketFabric selected Aqua Comms’
AEConnect subsea cable system to extend the reach of its
software-defined networking (SDN) platform into Europe. As
a result PacketFabric customers now have near-instantaneous
access to transatlantic capacity on AEConnect from any location
on its private and secure network.
Dr Patrick Soon-Shiong,