$100M Fuels Alkira's Mission: Building the Future of Secure, Scalable Networks

By Greg Tavarez, TMCnet Editor  |  May 24, 2024

A report by Gartner predicts a surge in spending on public cloud services. According to the research firm, global end-user spending on public cloud offerings is expected to reach $679 billion in 2024. This growth trajectory is projected to continue, with spending surpassing the $1 trillion mark by 2027.

So, what’s causing the surge?

Businesses increasingly recognize the need to re-evaluate their entire network infrastructure to keep pace with the evolving technological landscape. Cloud computing offers a scalable and cost-effective solution, and it allows organizations to access computing resources and data storage on demand rather than maintaining expensive in-house systems.

Furthermore, AI presents another compelling factor influencing cloud adoption. As organizations use AI for tasks like data analysis and automation, efficient and secure data management becomes paramount. Cloud platforms offer security features and the ability to handle vast amounts of data.

Seeing these trends, with its innovative network infrastructure as-a-service platform, Alkira better equips businesses to easily deploy, manage and optimize their network infrastructure to prioritize efficiency, agility security and scalability.

Alkira provides a unique value proposition. The company offers on-demand network infrastructure as-a-service with integrated security and networking services available globally. It also offers the ability to securely connect any cloud, any on-prem location, any remote user or app to any other point of presence.

Overall, Alkira is a platform that builds global, secure networks in minutes, eliminating the need to acquire hardware, manage physical circuits and run software appliances or agents on-site.

And in more recent news, to continue to simplify, secure and scale critical network infrastructure, Alkira closed on a $100 million Series C funding round, bringing the company's total funding raised to date to $176 million.

The Series C funding round will be a springboard for the company's efforts to transform how businesses utilize network services. This investment will fuel innovation across several key areas.

Alkira plans to expand its already-strong multi-cloud networking solutions, introduce new ways to connect geographically dispersed locations and further streamline how customers connect with business partners.

Additionally, they aim to provide a unified secure network solution by eliminating the need for companies to manage separate networks and security systems. The funding will also allow Alkira to prepare its network infrastructure for the rise of AI workloads and leverage AI to optimize network performance.

"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, CEO at Alkira. "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. Our talented team is the engine behind Alkira's success."

The round was led by Tiger Global Management, a global investment firm, with additional investment from Dallas Venture Capital, Geodesic Capital, LIAN Group and NextEquity Partners; and participation from existing investors Kleiner Perkins, Koch Disruptive Technologies and Sequoia Capital (News - Alert).

Edited by Alex Passett
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