PacketFabric Funding, Investors & Competitors

PacketFabric has raised $110M across 3 funding rounds, most recently a $10M Series A in November 2020.

Last PacketFabric funding round

$10M

Series A · Nov 2020

Cumulative funding PacketFabric raised

$110M

across 3 funding rounds

Key investors in PacketFabric

  • Digital Alpha
  • NantCapital

PacketFabric Overview

About PacketFabric

PacketFabric is a Los Angeles-based provider of layer 2 network-as-a-service connecting colocation data centers, AWS Direct Connect, Google Cloud Interconnect, and Internet exchanges. The platform delivers on-demand bandwidth via a self-service portal and API, supporting speeds up to 100 Gbps with low latency and high security. PacketFabric serves enterprises requiring scalable private connectivity, bypassing traditional provider limitations through its nationwide fiber network.


Founded

2015

HQ

United StatesLos Angeles, CA

Status

Privately held

Customer focus

B2B

Revenue model

Usage-based, Subscription

PacketFabric Funding History

PacketFabric has raised a total of $110M across 3 funding rounds.

PacketFabric's first fundraising round was a $25M Series B in January 2018. The most recent completed round was a $10M Series A in November 2020.

PacketFabric funding rounds

PacketFabric funding rounds
DateStageInvestorsRaisedDeal Summary
Nov 2020Series A-$10M-
Aug 2019Undisclosed stageDigital Alpha (lead)$75MPacketFabric, a NantWorks ecosystem company, provides a software-defined network (SDN) platform offering on-demand 100 Gigabit Ethernet connectivity as a service for enterprise customers in North America and Europe. On August 27, 2019, it secured a $75 million joint venture investment from Digital Alpha Advisors, which became the controlling investor and appointed partners Rick Shrotri and Vasa Babic to the board. The funding followed a $25 million Series B round the prior year and aimed to develop the platform, expand availability across the U.S. and globally, and enhance network architecture for multi-cloud services. The investment enabled partnerships like with Cisco for Segment Routing (SR-MPLS) architecture and agile multi-cloud on-ramps. PacketFabric's SDN controller allows customers to provision services, manage them, and view statistics, emphasizing seamless provisioning, customization, competitive pricing, and ease compared to traditional telecom. Digital Alpha highlighted the company's strong foundation and potential for new services in high-demand areas like genomics data transport. Alliant Partners advised PacketFabric on the transaction. This round positioned PacketFabric for market leadership in agile connectivity, with later developments including a merger with Unitas Global (both Digital Alpha portfolio companies) and subsequent funding, such as a $373M unattributed round in 2023, bringing total raised to over $501M across seven rounds.
Jan 2018Series BNantCapital (lead)$25MPacketFabric, a connectivity-as-a-service platform and member of the NantWorks ecosystem, secured $25 million in Series B funding from lead investor NantCapital on January 18, 2018, to support rapid growth and high demand for its services launched in 2017. The company operates a highly scalable, automated SDN-based network architecture using optical and packet switching technology, enabling dynamic, real-time connectivity between over 150 points of presence in 17 U.S. metro markets via a terabit-scale backbone, API, and web portal. Since its seed round in 2015, PacketFabric has expanded its U.S. footprint significantly, facilitating coast-to-coast connectivity for enterprises needing secure, scalable network deployment amid challenges like performance, security, capacity issues, and net neutrality concerns. NantWorks Chairman and CEO Dr. Patrick Soon-Shiong highlighted the investment as support for market-disruptive interconnectivity innovations enabling big data transport across industries. Chad Milam was appointed President and COO and joined the board, bringing experience from NantWorks and Mox Networks. PacketFabric positions itself as a framework for secure enterprise collaboration and service delivery in the digital era, redefining network connectivity procurement and management for colocation facilities.

Who has invested in PacketFabric?

2 investors have backed PacketFabric across its funding rounds, including Digital Alpha and NantCapital.

Lead investors include Digital Alpha and NantCapital.


PacketFabric Investors

Investors in PacketFabric by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by PacketFabric

PacketFabric has acquired 2 companies to date.

Last acquisition by PacketFabric was on January 12th 2023. PacketFabric acquired Unitas Global for undisclosed valuation.


Latest Acquisitions by PacketFabric

Unitas Global
RStor
Description
Unitas Global is a Los Angeles-headquartered provider of managed network connectivity services that link enterprises to cloud providers including AWS, Azure, and Google Cloud. The company operates a global fiber network spanning North America, Europe, and Asia, connecting over 300 data centers and thousands of enterprise locations. Unitas Global delivers dedicated internet access, MPLS, and SD-WAN services through its Nexus platform, emphasizing low-latency paths for financial services, media, and gaming industries.
RStor is a data storage company providing disaggregated infrastructure for hyperscale cloud environments. Its Comet product line delivers high-density NVMe storage arrays optimized for AI training, media processing, and big data analytics. Founded by executives from Rackable Systems and Optical Archive, the team engineered racks for Facebook and sold Optical Archive to Sony in 2010. Santa Clara, California-headquartered RStor focuses on modular systems reducing power consumption by up to 70 percent compared to traditional servers.
HQ CountryUnited StatesUnited States
HQ City
Chicago, IL
San Jose, CA
Deal Date12 Jan 20234 Oct 2021
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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PacketFabric Competitors

PacketFabric competitors include listed companies like Cisco, Alphabet, Microsoft and Oracle, and private ones like Meter and Databricks.

Public and private companies comparable to PacketFabric
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CiscoUnited StatesUnited StatesPublicly listed$63B$19B$435B6.9x
MeterUnited StatesUnited StatesPrivate--$1B-
AlphabetUnited StatesUnited StatesPublicly listed$403B$176B$4.2T8.7x
MicrosoftUnited StatesUnited StatesPublicly listed$332B$205B$3.7T10.7x
OracleUnited StatesUnited StatesPublicly listed$67B$33B$455B7.8x
DatabricksUnited StatesSan Francisco, CAPrivate$7B-$190B27.1x

PacketFabric Public Comps

PacketFabric is still privately-owned, but its public comps include Alphabet, Microsoft, Amazon, Samsung, Oracle, Cisco, Dell, Alibaba Group, Arista Networks and IBM.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Alphabet$403B$176B10.2x8.7x23.3x19.0x
Microsoft$332B$205B11.1x10.7x18.0x17.5x
Amazon$717B$161B3.9x3.5x17.5x13.8x
Samsung$243B$67B4.4x2.4x15.8x4.4x
Oracle$67B$33B8.6x7.8x17.7x13.9x
Cisco$63B$19B7.1x6.9x23.4x17.9x
Dell$114B$12B3.5x2.4x34.3x20.1x
Alibaba Group$153B$15B1.7x1.6x17.5x13.0x

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Common questions about PacketFabric

When was PacketFabric founded?PacketFabric was founded in 2015.
Where is PacketFabric headquartered?PacketFabric is headquartered in Los Angeles, CA, United States.
Is PacketFabric publicly listed?No, PacketFabric is a private, VC-backed company.
How much funding has PacketFabric raised?PacketFabric has raised $110M across 3 funding rounds.
What was PacketFabric's last funding round?PacketFabric's last funding round was a $10M Series A in November 2020.
Who are PacketFabric's investors?PacketFabric's investors include Digital Alpha and NantCapital.
Which companies are comparable to PacketFabric?Companies comparable to PacketFabric include Cisco, Meter, Alphabet, Microsoft, Oracle and Databricks.
How many companies has PacketFabric acquired?PacketFabric has acquired 2 companies, including Unitas Global and RStor.

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