Packet Cloud co Raised $25M Series B

Thanks to DataCenter Knowledge

Cloud and edge computing startup Packet has raised a $25 million Series B funding round • The company has started to build out the initial nodes on its planned edge computing network • It’s hired a former SoftLayer executive as COO and brought on a Facebook veteran to oversee its hardware platform development • Packet’s goal is to provide an AWS-like user experience for edge computing infrastructure. Much of the new funding round, led by Third Point Ventures and joined by Battery Ventures, JA Mitsui Leasing, Samsung NEXT, and existing investors SoftBank Corp. and Dell Technologies Capital, will pay for building the infrastructure that will allow those customers to finally start figuring out how edge computing might help them in practice.

Packet, the startup that aspires to provide an Amazon Web Services-like experience to users of edge computing infrastructure, has raised a Series B funding round and brought on a Chief Operating Officer, as it starts scaling the organization, accelerates product development, and kicks off deployment of the first nodes on its future edge computing network.

Packet, the startup that aspires to provide an Amazon Web Services-like experience to users of edge computing infrastructure, has raised a Series B funding round and brought on a Chief Operating Officer, as it starts scaling the organization, accelerates product development, and kicks off deployment of the first nodes on its future edge computing network.

A second funding announcement by an edge computing startup this month (Vapor IO announced a private equity investment last week), Packet’s $25 million round comes at a time when big telecommunications companies and some forward-looking enterprises of other types are waiting to kick the tires on the idea of physically bringing computing infrastructure closer to end users to reduce both network latency and cost.