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- Nexthop AI
Nexthop AI Valuation, Funding & Investors
Nexthop AI is valued at $4.2B as of March 2025.
Last Nexthop AI valuation
$4.2B
Series A · Mar 2025
Last Nexthop AI funding round
$110M
Series A · Mar 2025
Cumulative funding Nexthop AI raised
$110M
across 1 funding round
Key investors in Nexthop AI
Lightspeed Venture Partners
Kleiner Perkins
Battery Ventures
Westbridge Capital
Emergent Ventures
About Nexthop AI
Nexthop AI is a Boston-based developer of AI-optimized networking software for hyperscale cloud providers including AWS and Azure partners. Solutions automate routing protocols, traffic engineering, and SONiC-based deployments to cut latency by 30 percent in data centers. Founded in 2022, Nexthop integrates with open-source tools like FRR and supports GPU clustering for AI workloads.
Founded
2023
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$4.2B (Mar 2025)
Nexthop AI Valuation
Nexthop AI is currently valued at $4.2B, based on its Series A in March 2025.
The $110M round was led by Lightspeed Venture Partners, with participation from Kleiner Perkins, Emergent Ventures, Battery Ventures and Westbridge Capital.
Nexthop AI valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2025 | Series A | $4.2B |
Nexthop AI Funding History
Nexthop AI has raised a total of $110M across 1 funding round.
Nexthop AI funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2025 | Series A | Lightspeed Venture Partners (lead); Kleiner Perkins; Emergent Ventures; Battery Ventures; Westbridge Capital | $110M | $4.2B | Nexthop AI, a Santa Clara-based pioneer in highly efficient AI and cloud networking solutions, announced the closure of an oversubscribed $500 million Series B funding round on March 10, 2026, catapulting its post-money valuation to $4.2 billion. The round was led by Lightspeed Venture Partners, with major participation from new investors Andreessen Horowitz and Altimeter, alongside existing backers including Battery Ventures, Emergent Ventures, Kleiner Perkins, U.S. Innovative Technology Fund, and WestBridge Capital. The company specializes in high-performance switching solutions built on open-source operating systems like SONiC and FBOSS, offering both off-the-shelf products for NeoClouds and customized joint development manufacturing (JDM) solutions for the largest hyperscale AI operators. The funding will accelerate research and development, infrastructure investments, and the launch of three foundational network platforms to meet surging demand for AI data center networking amid rapid AI workload expansion. Nexthop AI emphasizes hyperscale-grade performance, open software, and co-development models tailored to the world's largest AI operators, positioning it as a frontrunner in rethinking data center network architecture for the AI era. Founded by industry veterans with hyperscale networking experience, the company now employs over 300 people across locations in Santa Clara, Seattle, Vancouver, Dublin, and Bengaluru. Investors highlighted Nexthop AI's potential to capture a massive infrastructure market opportunity, with Lightspeed's Guru Chahal noting its Day One investment conviction for building a $100B+ company through superior performance and customer partnerships. The round underscores strong market validation for Nexthop's focus on efficiency, scalability, and openness in AI clusters, where networking has become central to overall system performance. |
Who has invested in Nexthop AI?
5 investors have backed Nexthop AI across its funding rounds, including Lightspeed Venture Partners, Kleiner Perkins, Battery Ventures, Westbridge Capital and Emergent Ventures.
Lead investors include Lightspeed Venture Partners.
Nexthop AI Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Mar 2025 | ||
| 1 | Participant | Mar 2025 | ||
| 1 | Participant | Mar 2025 | ||
This data is available for Pro users. Sign up to see all 5 Nexthop AI investors. Start Free Trial | ||||
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Start Free TrialNexthop AI Competitors
Nexthop AI competitors include listed companies like Presight AI and Affle 3i, and private ones like ThoughtSpot, Vanta, Dataminr and Decart.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $150M | - | $4.2B | 28.0x | ||
| Private | $220M | - | $4.2B | 18.9x | ||
| Private | $200M | - | $4.1B | 20.5x | ||
| Private | - | - | $4B | - | ||
| Publicly listed | $825M | $214M | $5.7B | 5.4x | ||
| Publicly listed | $282M | $67M | $2.3B | 6.7x |
Nexthop AI Public Comps
Nexthop AI is still privately-owned, but its public comps include Internet Initiative Japan, Megaport, NetScout Systems, Presight AI, Adeia, Affle 3i, Ncino, Calix, Haizhi and solutions by stc.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.2B | $431M | 1.8x | 1.7x | 9.1x | 9.5x | |||
| $222M | $15M | 12.3x | 9.9x | 181.8x | 32.6x | |||
| $859M | $163M | 2.6x | 2.6x | 13.9x | 9.5x | |||
| $825M | $214M | 6.3x | 5.4x | 24.4x | 20.8x | |||
| $443M | $240M | 6.8x | 7.1x | 12.5x | 12.2x | |||
| $282M | $67M | 7.4x | 6.7x | 31.3x | 29.5x | |||
| $595M | $65M | 4.3x | 4.0x | 39.0x | 15.8x | |||
| $1B | $38M | 2.0x | 1.8x | 52.9x | 13.6x | |||
This data is available for Pro users. Sign up to see all Nexthop AI competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Nexthop AI
| When was Nexthop AI founded? | Nexthop AI was founded in 2023. |
| Where is Nexthop AI headquartered? | Nexthop AI is headquartered in San Jose, CA, United States. |
| Is Nexthop AI publicly listed? | No, Nexthop AI is a private, VC-backed company. |
| What is Nexthop AI's valuation? | Nexthop AI was last valued at $4.2B in its Series A in March 2025. |
| How much funding has Nexthop AI raised? | Nexthop AI has raised $110M across 1 funding round. |
| What was Nexthop AI's last funding round? | Nexthop AI's last funding round was a $110M Series A in March 2025, led by Lightspeed Venture Partners. |
| Who are Nexthop AI's investors? | Nexthop AI's investors include Kleiner Perkins, Emergent Ventures, Battery Ventures, Lightspeed Venture Partners and Westbridge Capital. |
| Which companies are comparable to Nexthop AI? | Companies comparable to Nexthop AI include ThoughtSpot, Vanta, Dataminr, Decart, Presight AI and Affle 3i. |
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