Arrcus snaps up $50M for a softwarebased alternative to costly network router equipment
- Traditionally, telecoms carriers have been the primary buyers of network switches and routers, used to manage and carry fixed, mobile and broadband traffic between their core networks and out to consumers and other end users.
- The company saw its revenues grow 100% in the last year, and its valuation is now at $400 million, double its $200 million valuation from its $28 million Series C in 2021.
- “We believe Arrcus is a disruptive leader in next generation network infrastructure that is software defined, flexile, programmable and efficient; and we are excited to support the company and its distinguished team.”
- Software may be eating the world, but it’s all still largely running across very physical, and often very expensive, equipment.
- It has raised $126 million to date.Aramco’s involvement in the round speaks to the addressable market for technology like Arrcus’s.
- The Series D is being led by Prosperity7, the investment arm of petrochemical giant Aramco (aka the Saudi Arabian Oil Company), who is coming on as a strategic investor.Previous backers Clear Ventures, General Catalyst, Liberty Global and Lightspeed are also participating, alongside Silicon Valley Bank.
Software may be eating the world, but its all still largely running across very physical, and often very expensive, equipment. That is now slowly starting to change, though. Today, a startup called [+5011 chars]