Nile Revenue, Valuation, Funding & Investors

Nile is valued at $775M as of August 2023, a 96.9x multiple on its last reported $8M revenue.

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Last Nile valuation

$775M

Series C · Aug 2023

Last Nile funding round

$175M

Series C · Aug 2023

Nile revenue

$8M

Series C · Aug 2023

Key investors in Nile

  • 8VC
  • March Capital
  • ICONIQ Capital
  • Horizons Ventures
  • Valor Equity Partners
  • Geodesic Capital

Nile Overview

About Nile

Nile is a Santa Clara-based networking company delivering enterprise access services powered by AI architecture. The Nile Access Service provides zero-trust security, wired and wireless connectivity, and performance SLAs in a cloud-managed model. Deployed in over 1,000 locations across North America, it serves sectors like healthcare and finance including clients such as Kaiser Permanente. Founded in 2021, Nile reduces IT operational costs through automation replacing legacy Wi-Fi controllers and firewalls.


Founded

2018

HQ

United StatesSan Jose, CA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$8M (Aug 2023)

Valuation

$775M (Aug 2023)

Nile Valuation

Nile is currently valued at $775M, based on its Series C in August 2023.

The $175M round was led by March Capital and Sanabil, with participation from STC Ventures, 8VC, Prosperity7 Ventures, U First Capital, Geodesic Capital and 3 other investors.

Nile's valuation has grown 1.9x from $415M at its Series B in January 2020 to $775M in August 2023, across 2 priced rounds.

Nile valuation by funding round

Revenue multiple
Nile valuation by funding round
DateStageValuationRevenue Multiple
Aug 2023Series C$775M96.9x
Jan 2020Series B$415M-

Nile Revenue

Nile's latest recorded revenue is $8M, as of its Series C in August 2023. At a $775M valuation, that implies a 96.9x revenue multiple.

Nile revenue by funding round

Nile revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Aug 2023$8M$775M96.9xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Nile Funding History

Nile has raised a total of $300M across 3 funding rounds.

Nile's first fundraising round was a $15M Series A in January 2018. The most recent completed round was a $175M Series C in August 2023.

Nile funding rounds

Nile funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2023Series CMarch Capital (lead); Sanabil (lead); STC Ventures; 8VC; Prosperity7 Ventures; U First Capital; Geodesic Capital; Valor Equity Partners; Liberty Global Ventures; Aramco Ventures$175M$775MNile is a next-generation enterprise networking company offering a network-as-a-service (NaaS) solution that delivers secure wired and wireless services through monitoring, analytics, and automation, targeting startup offices, college campuses, and other environments with simple deployment needs. Unlike incumbents like Cisco, which derive most revenue from channel partners, Nile employs a direct-to-business model with standardized commodity hardware, enabling ~80% gross margins at scale. The company emerged from stealth less than a year before its Series C and has expanded globally to Europe, the Middle East, Africa, and Asia, serving customers like Stanford University, Pitney Bowes, and Carta, while partnering with over 100 channel and service provider partners. In August 2023, Nile raised $175 million in a Series C round co-led by March Capital and Sanabil, with participation from Aramco Ventures (via Prosperity7), Liberty Global Ventures, STC Ventures (via stc CIF), 8VC, Geodesic Capital, U First Capital (as FirstU Capital), and Valor Equity Partners. This brought total funding to $300 million, aimed at accelerating market expansion, eliminating operational complexities, and enhancing security measures. A prior Series B in January 2020 raised $110 million at a $395 million valuation, led by March Capital. Sacra estimates Nile reached $7.5 million in annual recurring revenue (ARR) in 2023, representing 400% year-over-year growth, by converting traditional upfront capex in enterprise networking into recurring managed subscriptions. This traction underscores Nile's competitive positioning against Cisco (92% of $54-57B 2023 revenue from channels), Juniper ($5.6B), and HPE Aruba ($5.3B), where incumbents face structural barriers to direct managed services due to channel conflicts.
Jan 2020Series BMarch Capital (lead); ICONIQ Capital; 8VC; Horizons Ventures; JC2 Ventures$110M$415MNile is a networking software company based in San Jose, California, offering enterprise networks as a service (NaaS) that bundles commodity hardware with premium SaaS subscriptions to simplify enterprise networking and reduce complexity compared to incumbents like Cisco and Juniper. The company targets educational institutions (35% of customers), mid-market startup offices (45%), and retail/medical offices (20%), with average contract values around $100K and larger deployments up to $300K annually. Nile's Series B funding round in December 2019 raised $125M at a post-money valuation of $414.62M, aligning with the specified investors including lead March Capital, 8VC, Horizons Ventures, ICONIQ Capital, and JC2 Ventures. This followed a Series A in December 2017 that raised $15M at $55M valuation. Later, Nile raised $175M in Series C in July 2023 at $750M valuation, bringing total funding to $315M, with Sacra estimating $7.5M ARR by end-2023 implying 100x revenue multiple on the 2023 valuation.
Jan 2018Series A-$15M-Nile, founded in 2018 by former Cisco executives John Chambers and Pankaj Patel, provides next-generation enterprise networks through a Network-as-a-Service (NaaS) model that eliminates capital equipment costs, software licenses, and maintenance contracts, charging only for monthly usage. The company competes with Cisco by offering simplified, secure wired and wireless networking with AI-powered monitoring, analytics, and automation. Nile emerged from stealth in 2022 with over 100 global partner engagements. In January 2018, Nile raised $15 million in its Series A round to support initial growth and development of its NaaS solutions, with lead investors not publicly disclosed. This brought early funding to the San Jose-based startup aiming to disrupt the traditional networking industry dominated by giants like Cisco and Juniper. Subsequent rounds included a Series B in January 2020 raising $110 million at a $395 million valuation led by March Capital, and a Series C in August 2023 raising $175 million co-led by March Capital and Sanabil, bringing total funding to $300 million.

Who has invested in Nile?

13 investors have backed Nile across its funding rounds, including 8VC, March Capital, ICONIQ Capital, Horizons Ventures, Valor Equity Partners and Geodesic Capital.

Lead investors include March Capital and Sanabil.


Nile Investors

Investors in Nile by funding rounds participated
InvestorHQRoundsRoleFirst check
8VCUnited StatesSan Francisco, CA2ParticipantJan 2020
March CapitalUnited StatesLos Angeles, CA2LeadJan 2020
ICONIQ CapitalUnited StatesSan Francisco, CA1ParticipantJan 2020
STC VenturesUAEDubai1ParticipantAug 2023
Prosperity7 VenturesSaudi ArabiaDammam1ParticipantAug 2023
U First CapitalUnited StatesSan Jose, CA1ParticipantAug 2023
Geodesic CapitalUnited StatesSan Francisco, CA1ParticipantAug 2023
Horizons VenturesHong KongHong Kong1ParticipantJan 2020
Valor Equity PartnersUnited StatesChicago, IL1ParticipantAug 2023
Liberty Global VenturesUnited StatesDenver, CO1ParticipantAug 2023
SanabilSaudi ArabiaRiyadh1LeadAug 2023

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Nile Competitors

Nile competitors include listed companies like Asiainfo Security and DPtech, and private ones like Corelight, Automox, Solo.io and Aryaka Networks.

Public and private companies comparable to Nile
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Asiainfo SecurityChinaChinaPublicly listed$1.2B($11M)$781M1.1x
CorelightUnited StatesSan Francisco, CAPrivate--$900M-
AutomoxUnited StatesAustin, TXPrivate--$666M-
Solo.ioUnited StatesUnited StatesPrivate--$1B-
Aryaka NetworksUnited StatesCalifornia City, CAPrivate--$539M-
DPtechChinaChinaPublicly listed$182M$25M$1.4B4.9x

Nile Public Comps

Nile is still privately-owned, but its public comps include Mitek Systems, Asiainfo Security, N-able, CANCOM, Datagroup, Riskified, Rapid7, Yubico, Feitian Technologies and Beijing Abt Networks.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Mitek Systems$180M$37M4.1x3.7x19.9x11.2x
Asiainfo Security$1.2B($11M)1.2x1.1x(126.2x)339.7x
N-able$509M$80M2.1x2.0x13.5x6.8x
CANCOM$2B$118M0.4x0.4x6.3x5.7x
Datagroup$652M$96M1.4x1.4x9.6x9.4x
Riskified$345M($31M)1.8x1.6x(20.3x)19.0x
Rapid7$860M$63M1.3x1.3x17.4x6.8x
Yubico$226M$19M3.3x3.2x39.7x25.6x

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Common questions about Nile

When was Nile founded?Nile was founded in 2018.
Where is Nile headquartered?Nile is headquartered in San Jose, CA, United States.
Is Nile publicly listed?No, Nile is a private, VC-backed company.
What is Nile's valuation?Nile was last valued at $775M in its Series C in August 2023.
How much funding has Nile raised?Nile has raised $300M across 3 funding rounds.
What was Nile's last funding round?Nile's last funding round was a $175M Series C in August 2023, led by March Capital and Sanabil.
Who are Nile's investors?Nile's investors include 8VC, March Capital, ICONIQ Capital, STC Ventures, Prosperity7 Ventures, U First Capital, Geodesic Capital, Horizons Ventures, Valor Equity Partners, Liberty Global Ventures and 3 others.
What is Nile's revenue?Nile's latest recorded revenue is $8M (August 2023).
What is Nile's revenue multiple?Nile's latest valuation implies a 96.9x revenue multiple ($775M valuation on $8M of revenue).
Which companies are comparable to Nile?Companies comparable to Nile include Asiainfo Security, Corelight, Automox, Solo.io, Aryaka Networks and DPtech.

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