Monday, July 22, 2024
HomeFunding CA-based Meter Secures $35Million in Funding

[Funding alert] CA-based Meter Secures $35Million in Funding

CA-based Meter secures $35million in funding. This round was led by Sam Altman and Lachy Groom, with participation from existing investors. This new round will help us grow, along with their customers. They plan on investing in their products, supply chain, and growing our team.

CA-based Meter secures $35million in funding. This round was led by Sam Altman and Lachy Groom, with participation from existing investors. This new round will help us grow, along with their customers. They plan on investing in their products, supply chain, and growing our team.

Since our last funding round, they have made significant progress towards evolving internet infrastructure into a modern utility. Customers are moving into spaces already equipped with Meter from previous customers, and the internet, networking, and Wi-Fi just work.

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And as networks today are more demanding than ever, with more devices and more complex capacity asks made by those devices and their users, it’s become even more apparent how much their full-stack, integrated approach improves IT teams’ experience with better internet infrastructure.

Meter’s Network as a Service offering has grown to power millions of square feet in over 125 cities across 31 states and provinces in the US and Canada. They span across almost every industry (education, logistics, life sciences, manufacturing, retail, technology) and every type of commercial space (labs, offices, schools, retail stores, warehouses).

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They have partnered with Higher Ground Education, the largest Montessori school network in the U.S., which spans over 165 locations across millions of square feet. Additionally, they have enabled logistics company GoBolt to achieve more than 25% reduction in total cost of ownership over three years across their fleet of 14 fulfillment centers.

At Meter, they ultimately aim to be IT and infrastructure teams’ trusted partners and give them the ability to shift their focus from routine network infrastructure tasks to high-leverage strategic initiatives, similar to how teams post-AWS or GCP no longer need to manage their own data centers.

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They have heard from IT teams that since moving to Meter, overall support tickets are down more than 80%, and if it were not for Meter, they would be three to five years behind on updating and automating other systems in their IT stack.

Meter continues to grow at a rapid pace, both in their product development and as a business. They have prioritized enhancing visibility, observability, security, and reliability for their customers through features like an all-new Dashboard, Wi-Fi 6 upgrades, DNS Security, 802.1X, VPNs, and SOC 2 Type II compliance.

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Networking and Infrastructure are among the largest markets in all of technology — just Wi-Fi, not including routing or switching, was valued at over $3B last quarter. They believe IT teams deserve better outcomes and they refuse to compromise on product or service quality. Excellence should be in both product and service.

They believe the people who build hardware and software should be the ones responsible for it. They believe that networks should be more like electricity and water: just provide an address and a floor plan and it just works.

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About Meter

Business internet infrastructure is provided by Meter. Established in 2015 in San Francisco, construct enterprise-grade networks that are quicker, more accessible, and more secure. Their full-stack strategy integrates hardware, software, and operations to let any firm run smoothly on a modern network.

Read also –  CA-based BioAge Labs Secures $170Million in Series D Round Funding

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