Alkira, the leader in on-demand network infrastructure as-a-service, has announced the successful closing of a $100m Series C.
This round of funding was led by Tiger Global Management, a prominent global investment firm, with additional investments from Dallas Venture Capital, Geodesic Capital, and NextEquity Partners. Existing investors, including Kleiner Perkins, Koch Disruptive Technologies, and Sequoia Capital, also participated in this round.
Alkira specialises in providing a comprehensive network infrastructure as-a-service platform that enables businesses to deploy, manage, and optimise their network infrastructure seamlessly. The platform is designed to prioritise efficiency, agility, security, and scalability, making it an ideal solution for the growing demand for cloud applications and A.I. workloads.
With the new funding, Alkira plans to accelerate its innovation efforts and revolutionise how networks are consumed by enterprises.
The company aims to expand its multi-cloud networking solution portfolio, deliver new connectivity models for global Wide Area Networks (WANs), and simplify how customers connect to their business partners. Additionally, Alkira intends to integrate networking and security, preparing for increased A.I. workloads and leveraging A.I. for more efficient networking.
The substantial investment will support Alkira in further developing its on-demand network infrastructure solutions, which are crucial for enterprises undergoing digital transformation. According to Gartner, worldwide end-user spending on public cloud services is forecast to total $679bn in 2024 and is projected to exceed $1 trillion by 2027. This trend is compelling enterprises to rethink their network infrastructure strategies, making Alkira’s offerings highly relevant in the current market.
Alkira CEO Amir Khan commented on the funding round, stating, “The explosive growth of cloud applications and A.I. workloads are fuelling a surge in demand for agile, secure, scalable cost-efficient networking solutions.
“We’re fortunate to have strong partners to help us meet that demand while we accelerate growth, explore exciting new opportunities, and continue delivering exceptional value to our customers. Our talented team is the engine behind Alkira’s success, and we’re deeply grateful for their hard work and dedication in getting us to this point.”
Previously, Alkira has raised a total of $76m in funding, bringing their total funding to date to $176m with this latest round.
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