PACKETFABRIC HAS SECURED $25 MILLION IN SERIES B FUNDING FROM PACKETFABRIC’S LEAD INVESTOR NANTCAPITAL.
Culver City, Calif., January 18, 2018 – PacketFabric, the highly scalable, connectivity-as-a-service platform and a member of the NantWorks ecosystem of companies, today announces it has secured $25 million in Series B funding from PacketFabric’s lead investor NantCapital to support the rapid growth and high demand for its services since its launch in 2017.
The company has grown rapidly since completing its seed round in 2015, and now operates a U.S. footprint that includes more than 150 Points of Presence (PoPs) in 17 metro markets with a terabit-scale backbone.
“As a scientist and entrepreneur, I am a firm supporter of market disruptive innovations,” states 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.”
The company also announces today that Chad Milam has joined PacketFabric as President and Chief Operating Officer, and a member of the board of directors. Chad has held the position of CTO at NantWorks and Mox Networks. Prior to NantWorks, Chad led the Technical Infrastructure and Systems team at Teza Technologies, 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,” says Chad Milam, President and COO of PacketFabric. “PacketFabric is the framework of how businesses securely connect, communicate and transact in the new digital reality.”
For more information about PacketFabric, visit packetfabric.com.
PacketFabric redefines how companies procure, consume, and manage their network connectivity services. Leveraging an innovative, entirely automated SDN-based network architecture and the latest in optical and packet switching technology, PacketFabric enables dynamic, real-time connectivity services between major carrier-neutral colocation facilities at terabit-scale. PacketFabric facilitates coast-to-coast connectivity between more than 150 premier colocation facilities across 17 U.S. markets, and enables simple, cost-effective, and scalable network deployment via its advanced Application Program Interface (API) and web-based portal. For more information, visit www.packetfabric.com or connect with PacketFabric on Twitter, LinkedIn and Facebook.
NantWorks, LLC, founded by renowned physician scientist and inventor of the first human nanoparticle chemotherapeutic agent Abraxane®, Dr. Patrick Soon-Shiong, is the umbrella organization for the following entities: NantHealth, NantMobileHealth, NantOmics, NantBio, NantCell, NantPharma, NantCapital and NantCloud. Fact-based and solution-driven, each of NantWorks’ division entities operate at the nexus of innovation and infrastructure. The core mission of NantWorks is convergence and a systems approach to human biology: to develop and deliver a diverse range of technologies that accelerates innovation, broaden the scope of scientific discovery, enhance ground-breaking research, and improve healthcare treatment for those in need. NantWorks is building an integrated fact-based, genomically and proteomically-informed, personalized approach to the delivery of care and the development of next generation diagnostics and therapeutics for life threatening diseases such as Cancer, Infectious Diseases and Alzheimer’s. For more information please visit www.nantworks.com and follow Dr. Soon-Shiong on Twitter at @DrPatSoonShiong.