Meter, Inc. raises $35m to innovate business internet infrastructure

Meter, Inc., a pioneering company dedicated to developing advanced internet infrastructure for businesses, has successfully secured $35 million in a new funding round to fuel its growth and development. This significant financial boost is led by notable figures Sam Altman and Lachy Groom, with participation from existing investors including Sequoia, Meraki co-founders John Bicket and Sanjit Biswas, and VMware founder Diane Greene. The infusion of capital marks a critical step forward in Meter’s mission to revolutionize the way businesses access and manage internet connectivity.

Under the leadership of CEO and Co-Founder Anil Varanasi, Meter, Inc. has made remarkable strides in customer growth and product development over the past year. Varanasi’s vision of creating a modern utility for internet infrastructure is coming to fruition, with businesses moving into spaces equipped with Meter’s technology needing only to activate the service. This progress underscores Meter’s commitment to improving product quality and customer experience.

Meter’s Network as a Service (NaaS) solution stands at the forefront of network deployment and management, offering a user-friendly experience reminiscent of AWS’s impact on cloud infrastructure. By simplifying automation, Meter provides unparalleled visibility, configurability, and interoperability, allowing IT teams to focus on network service refinement and innovation. The company’s vertically integrated approach, developing proprietary hardware, firmware, and software, facilitates efficient network operations scaling, from ISP procurement to ongoing management and maintenance.

Lachy Groom highlights the increasing dependency of all industries on internet connectivity, pointing out the challenges businesses face in obtaining secure and reliable infrastructure. Meter’s innovative approach to reimagining the connectivity stack addresses these issues, promising better infrastructure for every business. The company’s vision, aligned with its investors, positions Meter as a potential generational company in the tech industry.

Since its last funding announcement, Meter has witnessed exponential growth in customer base, Annual Recurring Revenue (ARR), coverage area, and deployed networks. The company’s impact spans various industries, including retail, logistics, manufacturing, education, and healthcare, serving customers in over 125 cities across the US and Canada.