PacketFabric, a Culver City, CA-based provider of a scalable network as a service platform, secured a $75m joint venture investment.
Digital Alpha Advisors, an investment firm focused on digital infrastructure and services required by the digital economy, provided the financial resources and became a controlling investor in PacketFabric. It has appointed Partners Rick Shrotri and Vasa Babic to the board.
The company intends to use the funds to further develop the technology and scale the U.S. and global business for its cloud-based solution.
A member of the NantWorks ecosystem of companies and led led by Chad Milam, President and CEO, PacketFabric is an innovative network service provider which offers adjustable-on-demand connectivity for enterprise customers. Already a leader in 100Gbps ethernet connectivity for enterprise clients in North America and Europe, the solution is built API-first, allowing customers to create and manage private networks and rapidly move their data to the Cloud. Its proprietary software defined network controller is developed in-house to provide real-time interaction with the network platform to provision new services, manage existing services, and view service statistics.
The joint venture will serve as a catalyst for additional network architecture enhancements, creating customization and responsiveness features.