SAN JOSE, Calif., Aug. 1, 2023 /PRNewswire/ -- Nile, the leader in next-generation enterprise networks, today announced a $175 million Series C investment round co-led by March Capital and Sanabil Investments, with strategic participation from solutions by stc, Prosperity7, Liberty Global Ventures, and stc CIF (Corporate Investment Fund), and contribution from 8VC, Geodesic Capital, FirstU Capital, and Valor Equity Partners. Nile's impressive raise, which brings its total funding to $300 million, reflects the significant progress the company is making to expand its global position and redefine the way enterprises consume IT infrastructures.
After emerging from stealth mode less than a year ago, Nile has built a market-leading network-as-a-service (NaaS) solution designed to deliver a more secure wired and wireless service through the extensive use of monitoring, analytics, and automation. The company has rapidly expanded beyond North America into Europe, the Middle East, Africa, and Asia, and has seen increasing demand for its innovative access network service from organizations including Stanford University, Pitney Bowes, and Carta, among others. Collaborations with over 100 channel and service provider partners further underscore Nile's growing market presence.
"Nile is in a strong position to take advantage of several paradigm shifts occurring across the technology ecosystem," said Pankaj Patel, CEO and co-founder of Nile. "Cloud-born edge infrastructure solutions are altering the way we engage with each other and interact with physical spaces in offices, schools, and venues. AI is enabling data-driven decision-making to be adopted at a rapid pace. Cloud migration strategies for anywhere access to enterprise apps is top of mind for all IT executives, creating a tremendous opportunity for Nile. These trends present unique challenges in the way enterprise infrastructure is consumed, and Nile is committed to addressing them head-on, making our service as agile and innovative as the technology solutions it enables."
This round of financing will further Nile's mission to eliminate the operational complexities plaguing enterprise networks in their ability to support cloud-born enterprise IT solutions, while also delivering the highest levels of integrated defenses to protect both wired and wireless connectivity from cyber attacks. With Nile, innovation is as swift at the enterprise edge as it is in the cloud, the burden of high upfront capital expenditure-based consumption is eliminated, and the automation of all network services is enabled with data-centric, zero-touch orchestration.
"In just four years, Nile has engineered an entirely new connectivity experience through a groundbreaking approach that prioritizes security and empowers IT to transform operations," said Sumant Mandal, co-founder and managing partner at March Capital. "Led by a team of seasoned industry veterans with extensive C-suite expertise and bolstered by a dedicated group of skilled engineers and architects, Nile is rapidly evolving into a market leader ushering in a new era in networking that promises unparalleled possibilities. We're thrilled to deepen our support for Pankaj, John Chambersand their impressive bench of talent as they accelerate their momentum and continue to innovate the enterprise network at the forefront of the industry."
"Since the invention of the LAN [local area network] on our campus, we have taken pride in being at the forefront of new network innovations, and Nile has undoubtedly been a game-changer for us," said Andrej Krevl, Director of IT at Stanford. "After experiencing challenges with unreliable Wi-Fi, which interrupted classes, Zoom meetings, and everyday work for our computer science department, we turned to Nile to upgrade our network with a simplified and secure solution. As a result, our IT team is once again able to drive department innovations and focus on providing uninterrupted network performance to our students and staff, without being burdened by basic network tasks."
In the era of rapid transformation, CIOs and CISOs are increasingly concerned about the integrity of their business data and digital assets. Built with a steadfast commitment to security, Nile's service incorporates Campus Zero Trust Network Access (ZTNA) principles by design, and automates network access control (NAC) mechanisms that traditionally required significant manual effort to provision and maintain. This unwavering focus on security has enabled Nile to achieve top-tier certifications, including ISO 27001, SOC2 Type II, and CSA Level 1, validating its position as a leader in network service delivery to enterprises.
To learn more about Nile and its industry-first service architecture, visit nilesecure.com/enterprise-network.
Nile is the leader in next generation enterprise networks, with a vision to transform the way businesses interact with their IT infrastructure. Nile is dedicated to helping customers redirect a significant portion of the $75B in infrastructure operating expenses that they currently bear to critical IT initiatives. Nile's network-as-a-service (NaaS) solution is designed to keep pace with the rapid innovation seen across private and public clouds, and its commitment to agile solutions is setting a new standard for enterprise networks. For more information, visit nilesecure.com.