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PacketFabric Secures $75M Joint Venture Funding

Investment Funds rapid scaling of U.S. and global business for PacketFabric’s unique cloud-based solution

Opportunity to Capture unmet demand for Agile Network Solutions up to 400 Gbps Ethernet connectivity

PacketFabric, an innovator in fast, adjustable-on-demand connectivity for enterprise customers and a member of the NantWorks ecosystem of companies, today announced a $75 million joint venture investment from Digital Alpha Advisors, LLC to advance the company’s groundbreaking network offering. PacketFabric is the next generation network service provider. Pricing is transparent, services are provisioned through the portal in minutes, and the API provides extensible automation. PacketFabric is the ideal combination of carrier network and software as a service, offering a wide range of connectivity solutions between colocation, cloud, and to business partners.

Patrick Soon-Shiong, Chairman and CEO of parent company, Nantworks, said of the investment, “We developed PacketFabric to serve our needs at NantWorks in healthcare, artificial intelligence and media as a leading-edge connectivity provider. The infrastructure capabilities PacketFabric has enabled at NantWorks is clearly relevant for other enterprises around the world. The requirement to transport terabytes of data in our world of genomics, is now available through the functionality built at PacketFabric.  We are proud of these accomplishments built by our team. We’re confident the partnership with Digital Alpha and Cisco can further accelerate PacketFabric to become a market leader that redefines agile connectivity for customers around the world.”

Already a leader in 100Gbps ethernet connectivity for enterprise clients in North America and Europe, PacketFabric will use the investment to further develop the technology and scale its availability rapidly across the U.S., as well as globally. The joint venture will serve as a catalyst for additional network architecture enhancements, creating groundbreaking customization and responsiveness features. Chad Milam, President and CEO of PacketFabric commented “We are excited to expand our network to new locations and provide our customers with new services and even more features to enable instant, reliable, highly scalable connectivity through the partnership with Digital Alpha."

The new services brought to market by PacketFabric will provide the agility and security that enterprise customers seek in the cloud-based management of connectivity infrastructure.  On the joint venture, Digital Alpha Managing Partner Rick Shrotri said “The PacketFabric customers we spoke with recognized seamless provisioning, customization, competitive pricing, and ease of ownership compared to traditional telecommunications services as key advantages. There’s tremendous potential for new service creation so we’re thrilled to partner with the PacketFabric team to build on the business’ already strong foundation.”

The investment also enables new partnership opportunities with Cisco. These include:

  • Evolving to a more flexible and scalable Segment Routing (SR-MPLS) architecture
  • Enabling agile provisioning and management for reliable multi-cloud on-ramp services through PacketFabric’s globally distributed network.

Jonathan Davidson, Senior Vice President and General Manager of Cisco’s Service Provider Business noted: "PacketFabric is a modern-day telco that provides fully automated WAN connectivity for agile network services that are provisioned on-demand in a cloud-like model. They’re using innovative SR-MPLS on top of Cisco's market leading NCS 5500 product portfolio. We're very happy to have them as a partner."

With this investment, Digital Alpha will be a controlling investor and has appointed Partners Rick Shrotri and Vasa Babic to the board, bringing decades of technology and telecommunications experience.

Source: PacketFabric media announcement

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