Meter nabs $38Mn to scale business & support faster enterprise internet

Meter, Inc., an internet & Wi-Fi infrastructure provider for businesses, has recently announced that it has successfully raised $38 million in a Series B funding round that was headed by Lachy Groom and Sequoia Capital.

Industry leaders like Diane Greene, Tobi Lütke, and WndrCo, Meraki co-founders Sanjit Biswas and John Bicket also participated in the round along with the existing investors' Claire Thielke, Sam Altman, Allen & Company, Scott Belsky, Sam Hinkie, Reid Hoffman, Patrick & John Collison, and Tishman Speyer.

According to reliable sources, Meter will be leveraging the capital raised recently in scaling the firm to meet the budding consumer demand and build software and hardware solutions that make secure, reliable, and faster internet and Wi-Fi. Meter is also planning to announce that Sequoia Capital's Ravi Gupta will be joining its Board of Directors.

In a statement, Mr. Gupta said that the unique business model of Meter and its proprietary hardware and software empowers businesses to get control of their networks. Their firm is thrilled about the vision of Meter for transforming a long-hauled area of technology via its full-stack approach to networking.

Currently, firms like Italic, Brex, Lightstep, Loom, and Stord trust Meter's integrated solution to run their networks. Apparently, Tishman Speyer, who has participated in both the funding rounds of Meter, is about to integrate Meter's internet infrastructure in their buildings in the US and is planning to introduce Meter to its corporate clients as they ink new leases.

About Meter

Meter was founded by brothers and co-founders Anil and Sunil Varanasi in 2015 and have spent the last seven years with their teams building a full-stack strategy for internet connectivity in commercial spaces, which associates software, hardware, and operations so that firms can easily build their them and run a modern network.

Source Credit - https://www.businesswire.com/news/home/20220518006070/en/Meter-Secures-38M-Series-B-led-by-Sequoia-and-Lachy-Groom-to-turn-Internet-Infrastructure-into-a-Utility