• About & Contact Us
  • SEO Community

Ulancer.com

    • Latest Stories

      What is new?

    • Meet the startups that pitched at EF’s 10th Demo Day in London

      September 27, 2018

    • Rally Rd., the app that lets you invest in classic cars, raises $7M Series A

      September 27, 2018

  • News
  • How to’s
  • Writing
  • Startups
  • Jobs
  • More
    • CMS Tools
    • APPS
    • Web Resources
      • Advertising
      • Firefox
      • Scripts
      • Tools

Packet hauls in $25M Series B as customized cloud vision takes shape

  • by Ulancer Contributor
  • In Startups
  • — 11 Sep, 2018

In a world where large hyperscale companies like Amazon, Microsoft and Google dominate the public cloud, it would seem foolhardy for a startup to try to carve out a space, but Packet has an alternative customized cloud vision, and investors have taken notice. Today, the company announced a $25 million Series B led by Third Point Ventures.

An interesting mix of strategic and traditional investors joined the round including Battery Ventures, JA Mitsui Leasing and Samsung Next. Existing investors SoftBank Corp. and Dell Technologies Capital also participated. The company has now raised over $36 million.

The company also showed some signs of maturing by bringing in Ihab Tarazi as CTO and George Karidis as COO. Tarazi, who came over from Equinix, likes what he sees in Packet .

He says they offer several advantages over the public providers. First of all, customers can buy whatever hardware they want. “We offer the most diverse hardware options,” he said. That means they could get servers equipped with Intel, ARM, AMD or with specific nVidia GPUs in whatever configurations they want. By contrast public cloud providers tend to offer a more off-the-shelf approach. It’s cheap and abundant, but you have to take what they offer, and that doesn’t always work for every customer.

Another advantage Packet bring to the table, according to Tarazi, is that they support a range of open source software options, letting customers build whatever applications they want on top of that custom hardware.

They currently have 18 locations around the world, but Tarazi said they will soon be adding 50 more, also adding geographic diversity to the mix.

Finally, each customer gets their own bare metal offering, providing them with a single tenant private option inside Packet’s data center. This gives them the advantages of a privately run data center but where Packet handles all of the management, configuration and upkeep.

Tarazi doesn’t see Packet competing directly with the hyperscale players. Instead, he believes there will be room for both approaches. “I think you have a combination of both happening where people are trying to take advantage of all these hardware options to optimize performance across specific applications,” he explained.

The company, which launched in 2014, currently has about 50 employees with headquarters in New York City and offices in Palo Alto. They are also planning on opening an operations center in Dallas soon. The number should swell to 100 employees over the next year as they expand operations.


News source

You might also like...

  • Columbus Collaboratory’s Jeff Schmidt talks about the future of security 2 May, 2018
  • Outsourcing management startup 4me announces $1.65 million seed investment led by Storm Ventures 21 Feb, 2018
  • Viacom acquires VidCon, a gathering of YouTube stars and fans 7 Feb, 2018
  • Startups are (still) making weird name choices 10 Feb, 2018
  • Previous story Instacart brings on Mark Schaaf as Chief Technology Officer
  • Next story Global M&A activity is flat so far in 2018
  • RSS
    Receive Freebies & Latest Posts Directly To Your Email - it's Free!

    • Recent Posts
    • Most Popular
    • Comments
    • 7hrCggmJ-AMMeet the startups that pitched at EF’s 10th Demo Day in LondonSeptember 27, 2018
    • oNo38LV2tQIRally Rd., the app that lets you invest in classic cars, raises $7M Series ASeptember 27, 2018
    • Nearby.gifBerkanan is a Bluetooth-powered group messaging appSeptember 27, 2018
    • 2122.pngVinay Gupta to talk about Mattereum at Disrupt BerlinSeptember 27, 2018
    • slider_wp_03Best collection of WordPress Slider PluginsJuly 5, 2010
    • Joomla template builderTop 8 Free Joomla Template GeneratorsJuly 19, 2011
    • 40+ Best WordPress Plugins for Comments40+ Best WordPress Plugins for CommentsJune 18, 2011
    • wptheme2A Collection of Free WordPress ThemesJuly 11, 2010
    • Jason Hall on:Circle launches its stablecoin
    • Jason Hall on:Circle launches its stablecoin
    • Bharat Sarkari Naukri on:Spotify acquires online music studio Soundtrap as it goes after creators
    • PMP on:Online learning platform Unacademy gets $21M Series C from Sequoia India, SAIF and Nexus
  • Staff Picks

    • slider_wp_03Best collection of WordPress Slider PluginsJuly 5, 2010
    • Joomla template builderTop 8 Free Joomla Template GeneratorsJuly 19, 2011
    • 40+ Best WordPress Plugins for Comments40+ Best WordPress Plugins for CommentsJune 18, 2011
  • Recent Posts

    • Meet the startups that pitched at EF’s 10th Demo Day in London
    • Rally Rd., the app that lets you invest in classic cars, raises $7M Series A
  • Search Our Blog

  • Ulancer is an insightful freelance blog and resource site. We provide intuitive articles that cover Photoshop tutorials, time-saving management tips covering a broad range of topics. We also have an active freelance community forum, there you can meet other freelancers that share your common interest, socialize and chat about freelance trending news as the occurred.

© Copyright 2013 Ulancer.