- PacketFabric, an innovator adjustable-on-demand connectivity, announced a $75 million joint venture investment from Digital Alpha Advisors
PacketFabric — an innovator in fast and adjustable-on-demand connectivity for enterprise customers and a member of the NantWorks ecosystem of companies — recently announced a $75 million joint venture investment from Digital Alpha Advisors, LLC to advance the company’s network offering.
As a next-generation network service provider, pricing is transparent, services are provisioned through the portal in minutes, and the API provides extensible automation. And PacketFabric is the ideal combination of the carrier network and software as a service, offering a wide range of connectivity solutions between colocation, cloud, and business partners.
“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,” said Nantworks chairman and CEO Patrick Soon-Shiong.
PacketFabric is already a leader in 100Gbps ethernet connectivity for enterprise clients in North America and Europe. And the company plans to use the investment to further develop the technology and scale its availability rapidly across the U.S. as well as globally. This joint venture will serve as a catalyst for additional network architecture enhancements, creating groundbreaking customization and responsiveness features.
“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,” added PacketFabric president and CEO Chad Milam.
These 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.
“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,” explained Digital Alpha Managing Partner Rick Shrotri.
This investment also enables new partnership opportunities with Cisco. This includes evolving to a more flexible and scalable Segment Routing (SR-MPLS) architecture and enabling agile provisioning and management for reliable multi-cloud on-ramp services through PacketFabric’s globally distributed network.
“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,” commented Jonathan Davidson, the Senior Vice President and General Manager of Cisco’s Service Provider Business.
With this funding round, Digital Alpha will be a controlling investor and it has appointed Partners Rick Shrotri and Vasa Babic to the board thus bringing decades of technology and telecommunications experience.
Alliant Partners had acted as the exclusive financial advisor to PacketFabric for the transaction.
