Connectivity Startup Raises $100M for Cloud Connection Service

Alkira said its network infrastructure as a service helps businesses respond to rapid changes in network demands, as AI and cloud applications see a boom

Scarlett Evans, Assistant Editor, IoT World Today

May 20, 2024

2 Min Read
Digital rendering of a cloud above a tablet device

Alkira, a cloud connectivity startup, has raised $100 million to develop and roll out its network infrastructure as a service.

The series C round was led by Tiger Global Management, with new investors NextEquity Partners and Geodesic Capital joining previous backers Dallas Venture Capital, Sequoia Capital, Kleiner Perkins and KDT.

With the new funds, the company has raised $176 million to date.

According to the company, its service allows businesses to connect, manage and optimize their entire network infrastructure, providing a one-stop-shop to manage their cloud assets as a whole.

The service responds to an increased demand for flexible and secure networks, as a result of AI’s boom. 

"The explosive growth of cloud applications and AI workloads are fueling a surge in demand for agile, secure, scalable cost-efficient networking solutions," said Amir Khan, Alkira’s CEO. "We're fortunate to have strong partners to help us meet that demand while we accelerate growth, explore exciting new opportunities, and continue delivering exceptional value to our customers."

Alkira said its platform responds to these rapidly shifting network demands, offering businesses secure connectivity for any cloud, user and location, as well as a holistic platform that can integrate multiple networks “in minutes.”

Related:Cloud Offers Early Adopters Route to Quantum

"Increasing cloud and AI use is also increasing the complexity, velocity and scale requirements of network infrastructure," said Rohit Iragavarapu, investor at Tiger Global. "We believe Alkira is well positioned to unlock the growing potential of this rapidly evolving space with its visionary approach, market traction and cutting-edge technology."

Potential use cases for the platform span the entertainment, retail and manufacturing industries, with existing customers including Warner Music Group.

"The entertainment industry never sleeps, and Warner Music Group has been working with Alkira for years to revolutionize how we manage and protect our network infrastructure," said John Remo, Warner Music Group’s senior vice president. "Alkira's innovative platform has not only simplified network management but has also empowered us to prioritize business growth initiatives with confidence."

About the Author(s)

Scarlett Evans

Assistant Editor, IoT World Today

Scarlett Evans is the assistant editor for IoT World Today, with a particular focus on robotics and smart city technologies. Scarlett has previous experience in minerals and resources with Mine Australia, Mine Technology and Power Technology. She joined Informa in April 2022.

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