Meter secures $38M Series B led by Sequoia and Lachy Groom to turn internet infrastructure into a utility
Background
SAN FRANCISCO, CA — May 23, 2022 Today, Meter, Inc., a company that provides internet infrastructure for businesses, announced it has secured $38 million in Series B funding in a round led by Sequoia Capital and Lachy Groom, with participation from industry leaders such as Meraki co-founders John Bicket and Sanjit Biswas, Diane Greene, Tobi Lütke, and WndrCo, who join existing investors Sam Altman, Scott Belsky, Patrick & John Collison, Sam Hinkie, Reid Hoffman, Claire Thielke, Allen & Company, and Tishman Speyer.
Founded in 2015, Meter’s co-founders and brothers Anil and Sunil Varanasi, together with their team, spent the last seven years building a full-stack approach to internet connectivity in commercial spaces, which combines hardware, software, and operations so that any company can easily set up and run a modern network. Meter will leverage this latest capital raise to scale the company to meet growing demand, and continue to build hardware and software solutions that make internet and Wi-Fi faster, secure, and more reliable.
“Whether it’s in commercial office buildings, warehouses buzzing with robots, retail environments, hospitals or healthcare centers, our dependency on the internet is only growing, and Meter empowers any company to spin up a network as easily and seamlessly as it would a new EC2 server. After set-up, automatic maintenance ensures that the network then fades into the background instead of expending valuable engineering resources,” said Anil Varanasi, CEO and co-founder of Meter.
Meter is also announcing that Ravi Gupta of Sequoia Capital is joining its Board of Directors.
Customers
Companies like Brex, Italic, Loom, Lightstep, and Stord already trust Meter’s vertically integrated solution to run their networks; Tishman Speyer, which has participated in both the Series A and B rounds, is in the process of installing Meter’s internet infrastructure in their buildings throughout the US and is introducing Meter to its corporate customers as they sign new leases.