- Companies
- Meter
Last Meter valuation
$1B
Series C · Jun 2025
Last Meter funding round
$170M
Series C · Jun 2025
Cumulative funding Meter raised
$255M
across 5 funding rounds
Key investors in Meter
Sequoia Capital
Lachy Groom
Sam Altman
General Catalyst
JPMorgan Chase
Microsoft
About Meter
Meter, founded in 2015 by brothers Anil and Sunil Varanasi and based in San Francisco, provides vertically integrated internet infrastructure for businesses. It combines proprietary hardware such as racks, switches, wireless access points, and security appliances with software, firmware, and deployment and support services to set up and manage Wi-Fi, cellular connectivity, and networking from branch offices to data centers. The company also builds in cybersecurity features like traffic filtering, VPN, and malware isolation, and counts Lyft, Reddit, and Bridgewater among its customers, alongside channel partners CDW, Microsoft, and WWT.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$1B (Jun 2025)
Meter Valuation
Meter is currently valued at $1B, based on its Series C in June 2025.
The $170M round was led by General Catalyst, with participation from Baillie Gifford, Microsoft, WndrCo, 53 Stations, JPMorgan Chase and 3 other investors.
Meter valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2025 | Series C | $1B |
Meter Funding History
Meter has raised a total of $255M across 5 funding rounds.
Meter's first fundraising round was a $4M seed round in December 2019. The most recent completed round was a $170M Series C in June 2025.
Meter funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2025 | Series C | General Catalyst (lead); Baillie Gifford; Microsoft; WndrCo; 53 Stations; JPMorgan Chase; Sequoia Capital; Tishman Speyer; Lachy Groom | $170M | $1B | Meter is a San Francisco-based startup providing vertically integrated internet infrastructure solutions for enterprises, including hardware like power-optimized racks, high-speed switches, wireless access points, security appliances, and power distribution units, combined with software, firmware, deployment operations, and support for scalable Wi-Fi, cellular connectivity, and networking from branch offices to data centers. The company automates corporate network setup for new offices, offers cybersecurity features like traffic filtering, VPN, and malware isolation, and is developing an AI model trained on billions of parameters using Microsoft-supplied graphics cards to enhance troubleshooting. Customers include Lyft, Reddit, Bridgewater, and channel partners like CDW, Microsoft, and WWT. On June 12, 2025, Meter raised $170 million in a Series C funding round led by General Catalyst's Hemant Taneja, with participation from Baillie Gifford, Lachy Groom, J.P. Morgan, Microsoft, Sequoia Capital, Tishman Speyer, WndrCo, and 53 Stations. This follows prior funding totaling about $145 million, including from Sam Altman and others like Scott Belsky, Reid Hoffman, and Tobias Lütke. The round values Meter at over $1 billion, a unicorn status achieved just over a year after a $35 million raise. Proceeds will scale hardware production, engineering teams, global installation and customer success operations, and adoption among AI enterprises, system integrators, healthcare, logistics, finance, and data centers. Meter positions itself to meet surging internet demand as the 'last networking company needed,' emphasizing reliability for data-intensive AI operations and reducing vendor fragmentation via a unified cloud console. The company has grown rapidly, expanding partnerships and international presence while targeting high-profile sectors. |
| Feb 2024 | Series B | Sam Altman (lead); Sanjit Biswas; John Bicket; Sequoia Capital; Lachy Groom; Diane Greene | $35M | - | Meter, Inc., founded in 2015 by brothers Anil and Sunil Varanasi and headquartered in San Francisco, provides internet infrastructure solutions for businesses, including proprietary hardware, firmware, software, deployment operations, ISP management, and ongoing maintenance. The company offers a unified networking stack for reliable Wi-Fi, cellular connectivity, and secure networks, serving industries like retail, logistics, manufacturing, education, AI, financial services, healthcare, and more across over 125 cities in 31 US and Canadian states and provinces. Customers include ambitious companies and institutions relying on Meter for thousands of employees and locations. On February 13, 2024, Meter announced a $35 million Series B extension round led by Sam Altman and Lachy Groom, with participation from existing investors including Sequoia Capital, Meraki co-founders John Bicket and Sanjit Biswas, and VMware founder Diane Greene. The funding aims to propel growth and development, following significant progress since the prior round: customer logos doubled, and ARR, total square footage covered, and number of deployed networks tripled. This builds on a prior Series B of $38 million in May 2022 led by Lachy Groom and Sequoia. Meter generates revenue through a service model with monthly fees, such as USD 7,500 or USD 0.5 per square foot for installation, configuration, and hardware services. The company has raised a total of around $315 million across rounds, with later developments including a $170 million Series C in June 2025 led by General Catalyst, involving new investors like Baillie Gifford, Microsoft, and J.P. Morgan, plus returning backers. |
| May 2022 | Series B | Sequoia Capital (lead) | $38M | - | Meter, Inc. is a San Francisco-based company founded in 2015 by brothers Anil and Sunil Varanasi, offering a full-stack internet infrastructure solution for businesses that combines hardware, software, and operations to enable easy setup and management of modern, secure, and reliable networks including internet and WiFi. On May 18, 2022, Meter announced a $38 million Series B funding round led by Sequoia Capital and Lachy Groom, with participation from Meraki co-founders John Bicket and Sanjit Biswas, Diane Greene, Tobi Lütke, WndrCo, and existing investors like Sam Altman, Scott Belsky, Patrick and John Collison, Sam Hinkie, Reid Hoffman, and others. This brought total funding to $50 million at that time. The funds were intended to scale operations to meet growing demand and advance hardware and software innovations in networking. Sequoia partner Ravi Gupta joined the board, highlighting Meter's potential to transform networking akin to AWS's impact on data centers. Sources confirm the round details across multiple outlets, listing it as Meter's initial Series B on May 23, 2022, for exactly $38 million, distinct from a later additional Series B of $35 million led by Sam Altman and Lachy Groom. Meter has continued raising capital post-2022, including a $170 million Series C in 2025 led by General Catalyst with Sequoia participation, bringing total funding over $300 million, focused on infrastructure expansion and enterprise growth in network infrastructure. |
| Jun 2020 | Series A | Lachy Groom (lead) | $8M | - | Meter, Inc. is a wireless communications company founded in 2015 that provides network infrastructure systems to facilitate enterprise internet connectivity. The company installs and manages hardware such as wires, routers, and wireless access points while using software to manage secure, reliable wireless networks. In June 2020, Meter raised $8 million in Series A funding led by Lachy Groom to boost product development and scale operations. The company would go on to raise significantly more capital in subsequent rounds, including $38 million in Series B (May 2022) and $170 million in Series C (June 2025), eventually accumulating $243 million across six funding rounds. By February 2024, the company's valuation had reached $350 million. |
| Dec 2019 | Seed | Sam Altman (lead) | $4M | - | Meter is an internet infrastructure company founded in 2015 that provides reliable network infrastructure by integrating hardware, software, and operational support. Sam Altman led Meter's $4 million seed round in December 2015 and participated in subsequent rounds, including a $38 million Series B in May 2022 and a $35 million Series B co-led with Lachy Groom. The later Series B round brought Meter's valuation to $356 million. |
Who has invested in Meter?
13 investors have backed Meter across its funding rounds, including Sequoia Capital, Lachy Groom, Sam Altman, General Catalyst, JPMorgan Chase and Microsoft.
Lead investors include General Catalyst, Sam Altman, Sequoia Capital and Lachy Groom.
Meter Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | May 2022 | ||
| 3 | Lead | Jun 2020 | ||
| 2 | Lead | Dec 2019 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Lead | Jun 2025 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Participant | Jun 2025 | ||
This data is available for Pro users. Sign up to see all 13 Meter investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Meter
Meter has acquired 2 companies to date.
Last acquisition by Meter was on March 24th 2026. Meter acquired WiredScore for undisclosed valuation.
Latest Acquisitions by Meter
| Description | WiredScore is a New York-headquartered organization managing the Wired Certification standard for evaluating and promoting digital connectivity in commercial office buildings. The program assesses fiber access, mobile coverage, Wi-Fi infrastructure, and smart building systems, partnering with landlords such as Blackstone, Brookfield, and Hines to certify properties across North America and Europe. Launched in 2013 with the City of New York, it benchmarks connectivity for technology-dependent tenants. | Interval is a New York-based SaaS platform for fitness studios offering class scheduling, membership management, payment processing, and marketing automation. The all-in-one system tracks attendance, handles waitlists, sends automated reminders, and provides analytics on revenue and retention, serving over 3,000 boutique gyms and yoga studios across the U.S. |
| HQ Country | ||
| HQ City | New York City, NY | San Francisco, CA |
| Deal Date | 24 Mar 2026 | 2 Nov 2023 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Meter acquisitions and their M&A valuation multiples. Start Free Trial | ||
Meter Competitors
Meter competitors include listed companies like Napatech and Rackspace, and private ones like CAST AI, Defense Unicorns, io.net and JupiterOne.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $23M | ($10M) | $495M | 15.4x | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | $13M | - | $1B | 76.9x | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $2.7B | $244M | $997M | 1.6x |
Meter Public Comps
Meter is still privately-owned, but its public comps include Rackspace, cyber_Folks, Systena, Sumavision, Jiangxi Lianchuang, Tejas Networks, Frequentis, Intelbras, Plover Bay Technologies and SAKURA Internet.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.7B | $244M | 1.5x | 1.6x | 17.1x | 15.0x | |||
| $226M | $72M | 5.1x | 4.3x | 16.1x | 13.0x | |||
| $607M | $107M | 1.4x | 1.4x | 7.9x | - | |||
| $109M | $11M | 6.4x | - | 62.7x | - | |||
| $498M | $109M | 2.7x | 2.4x | 12.4x | - | |||
| $114M | ($70M) | 11.9x | - | (19.3x) | - | |||
| $668M | $78M | 1.5x | 1.3x | 12.6x | 11.9x | |||
| $867M | $131M | 1.0x | 1.0x | 6.5x | 7.1x | |||
This data is available for Pro users. Sign up to see all Meter competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Meter
| When was Meter founded? | Meter was founded in 2015. |
| Where is Meter headquartered? | Meter is headquartered in United States. |
| Is Meter publicly listed? | No, Meter is a private, VC-backed company. |
| What is Meter's valuation? | Meter was last valued at $1B in its Series C in June 2025. |
| How much funding has Meter raised? | Meter has raised $255M across 5 funding rounds. |
| What was Meter's last funding round? | Meter's last funding round was a $170M Series C in June 2025, led by General Catalyst. |
| Who are Meter's investors? | Meter's investors include Sequoia Capital, Lachy Groom, Sam Altman, Baillie Gifford, Sanjit Biswas, General Catalyst, Microsoft, WndrCo, John Bicket, 53 Stations and 3 others. |
| Which companies are comparable to Meter? | Companies comparable to Meter include Napatech, CAST AI, Defense Unicorns, io.net, JupiterOne and Rackspace. |
| How many companies has Meter acquired? | Meter has acquired 2 companies, including WiredScore and Interval. |
See companies similar to Meter
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