DigitalCIO
  • Home
  • Tech News
  • Market Insights
  • CIO Interviews
  • Events and Conferences
  • Opinion and Analysis
  • Resources
No Result
View All Result
DigitalCIO
  • Home
  • Tech News
  • Market Insights
  • CIO Interviews
  • Events and Conferences
  • Opinion and Analysis
  • Resources
No Result
View All Result
Digitalcio
No Result
View All Result
Home Archive

Stateless Secures $11.33M in Series A Funding to Reinvent Data Center Connectivity

DigitalCIO Bureau by DigitalCIO Bureau
February 2, 2019
in Archive
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

Stateless Secures $11.33M in Series A Funding to Reinvent Data Center Connectivity with Software-Defined Interconnect

Drive Capital and Speedinvest Fund Stateless’ Oversubscribed Series A Round as Company Emerges from Stealth

Stateless, Inc., announced it has raised $11.33 million in Series A funding. The investment is spurred by the rapid demand to extend connectivity beyond the data center and to connect workloads across data centers, hyperscale clouds and on-premises footprints. The oversubscribed Series A Round was led by Drive Capital with participation from existing investor Speedinvest.

Changing market dynamics such as the accelerating decline of on premises enterprise data centers, the introduction of software-defined WAN (“SD-WAN”) and the continued growth of huge hyperscale public clouds have caused enterprises to adopt hybrid multi-cloud strategies. Colocation providers, which have traditionally served as space, power and physical network connectivity resources, should now position themselves to be the hub for tenant traffic as workloads are decentralized. Stateless was founded to enable colocation providers and cloud MSPs to sit at the core of tenant networks through software-defined interconnect (SD-IX). SD-IX gives providers software-defined management of cross-connects so that they can protect their connectivity revenue, intelligently extend outside a single physical location and optimize their internal networks.

“Stateless aims to take network applications to the next level with a ground-breaking approach to connectivity,” said Murad Kablan, co-founder and CEO of Stateless. “The world of colocation and cloud service providers is rapidly transforming, and providers risk losing the value of their existing networking assets if they do not optimize for new use cases. The platform we are building is designed to elevate existing network assets to provide greater security, visibility and control, no matter the endpoint.”

The Series A funding will be used to expand deployment and operations activities and to optimize the Stateless platform. The funding investment represents one of the largest Series A capital rounds raised in Colorado within the past 12 months.

“Interconnection capabilities are becoming paramount as Equinix and organizations across the globe move towards more digitization of assets and information,” said Muhammad Durrani, global architecture & engineering lead, Equinix. “To realize the true value of our infrastructure, we need to greatly enhance the existing network connections beyond what fiber and cable can provide to us and our customers at our scale. Stateless’ software-defined interconnect approach is spot-on and will help drive future growth and success.”

“Flexential is excited about the capabilities Stateless brings to simplify the industry’s operational challenges due to the increase of network bandwidth and applications in our data centers,” said Jason Carolan, chief innovation officer at Flexential. “With its game-changing technologies and vision for reinventing connectivity, Stateless is a valued partner and is well-positioned to have a transformational impact on the network-enabled colocation industry.”

According to a report by Structure Research, colocation and cloud service providers are set to experience growing demand as enterprises move away from on premise data centers. Outsourced infrastructure revenue is expected to increase at a compound annual growth rate (CAGR) of 28 percent through 2022, when it is forecasted to reach $382.63 billion up from $138 billion in 2018. Stateless is poised to capitalize on this opportunity.

“Stateless brings together a truly unique collection of talent, experience and vision for delivering a revolutionary architecture for network applications, and we are excited to be working with them on their next phase of growth,” said Andy Jenks, partner at Drive Capital. “Networks have not seen the same magnitude of benefits from virtualization that compute and storage have achieved. We believe Stateless’ unique architecture is the key to the next generation of networking.”

The company will release more details on its technology, platform and products at a future date.

Share30Tweet19
DigitalCIO Bureau

DigitalCIO Bureau

Recommended For You

Data Recovery Experts Expand their Cloud and Security Skills at VeeamON Tour India

by DigitalCIO Bureau
September 1, 2023
0
Data Recovery Experts Expand their Cloud and Security Skills at VeeamON Tour India

Veeam Software flagged off its highly anticipated VeeamON Tour India 2023 in Mumbai today, delivering a rich experience to over 600 registrants. This month-long tour comes as an...

Read more

Dell Technologies Announces Intent to Acquire Moogsoft

by DigitalCIO Bureau
August 20, 2023
0
Dell Technologies Announces Intent to Acquire Moogsoft

Dell Technologies (NYSE: DELL) announced it has signed a definitive agreement to acquire Moogsoft, an AI-driven provider of intelligent monitoring solutions that support DevOps and ITOps.This transaction will further enhance...

Read more

Government Technology Agency of Singapore concludes third HackerOne bug bounty programme

by DigitalCIO Bureau
August 20, 2023
0

GovTech Singapore resolved 33 security weaknesses and awarded global hacker community over US$30,800 for contributing to a more secure and resilient smart nation HackerOne and Singapore's Government Technology...

Read more

XProtect(R) on Amazon Web Services Now Available in AWS Marketplace

by DigitalCIO Bureau
August 20, 2023
0

Customers with a cloud-first strategy and those looking for a hybrid VMS solution can now deploy a pre-configured XProtect as an elastic solution available globally with high flexibility...

Read more

OurCrowd Pandemic Innovation Conference to host global leaders, startups and investors online

by DigitalCIO Bureau
August 20, 2023
0

June 22 forum features tech solutions to global crisis, $100m OurCrowd Pandemic Innovation Fund OurCrowd will host the OurCrowd Pandemic Innovation Conference on June 22 to explore the...

Read more
Next Post

Weaponization of AI in Security

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related News

Parliament passes Aadhaar bill, government to bring law on data protection

July 9, 2019
Zoom Unveils Zoom AI Companion

Zoom Unveils Zoom AI Companion

September 7, 2023

AI-enabled tool developed to detect heart attacks

June 26, 2019

Browse by Category

  • Appointment
  • Archive
  • Artificial Intelligence
  • CIO Interviews
  • Cloud
  • Datacenter
  • Events and Conferences
  • Market Insights
  • News
  • Opinion and Analysis
  • Resources
  • Security
  • Storage
  • Tech News
Digitalcio

Welcome to DigitalCIO, your ultimate source for staying ahead in the ever-evolving world of technology and business.

CATEGORIES

  • Tech News
  • Market Insights
  • CIO Interviews
  • Events and Conferences
  • Opinion and Analysis
  • Resources
  • Archive

BROWSE BY TAG

Acquisition AI AIOps Appointment artificial intelligence Artificial Intelligence and Machine Learning Big Data and Analytics Blockchain CISCO Cloud Computing Cloudflare CommScope CrowdStrike Customer Experience Cybersecurity Deloitte Digital Transformation E-books ESG Everest Group Gartner Generative AI IDC Infographics Infosys Internet of Things (IoT) Nessus Expert Netskope New Relic Nextiva o9 Solutions Oracle Panel Discussion Public cloud ransomware Redington Limited Salesforce software Sophos Sustainability Tenable Veeam Software Webinars WeWork India Whitepaper

NAVIGATION

  • Home
  • About Us
  • Advertise with Us
  • Contact Us

© 2023 digitalcio.in - All rights reserved.

No Result
View All Result
  • Home
  • Tech News
  • Market Insights
  • CIO Interviews
  • Events and Conferences
  • Opinion and Analysis
  • Resources

© 2023 digitalcio.in - All rights reserved.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?