cPacket Networks announced the successful completion of a $67 million transaction, including a primary and secondary equity investment by funds managed by Morgan Stanley Expansion Capital and a debt refinancing by Trinity Capital. The involvement of these investors in this difficult market reflects positively on the company’s performance, strategic positioning, and exciting market opportunity.
Morgan Stanley Expansion Capital has a long history of successful investments in established and late-stage growth companies like cPacket. Along with capital, the cPacket team will utilize Morgan Stanley Expansion Capital’s experience in providing strategic advice and global perspective to help build upon cPacket’s momentum.
cPacket will use the funding to accelerate product development, including 400Gbps Observability nodes, expanding its Cloud and hybrid footprint and introducing innovative use of AI/ML to drive deep but business relevant insights from customers packet data. And the company will continue to scale its sales and marketing efforts globally.
Citizens JMP Securities served as the exclusive financial advisor to cPacket Networks in connection with the transaction.
KEY QUOTES:
“cPacket has demonstrated consistent and highly efficient growth and we are excited to partner with Brendan and his talented team to execute on the next chapter of success. The increasing complexity and performance required of modern enterprise networks is driving increasing need for high-quality, real-time packet data and analytics. Many of the world’s most demanding customers trust cPacket to inform their critical decisions and cPacket is at the forefront of technological leadership in the market.”
– Pete Chung, Head of Morgan Stanley Expansion Capital
“We are excited to partner with cPacket as it expands its market leading network observability technology to address the needs of its blue-chip enterprise customer base.”
- Jack McNamara, Director, Tech Lending at Trinity
“We are delighted to have the support and endorsement of Morgan Stanley Expansion Capital and Trinity Capital. We will strategically utilize their funding to drive market expansion and talent acquisition, as we accelerate delivery of our ground-breaking network observability solutions for our clients across financial services, healthcare, high-tech and government sectors.”
– Brendan O’Flaherty, CEO cPacket Networks
