Nile, an enterprise networks services startup, has raised $175m in a Series C funding round co-led by March Capital and Sanabil Investments.
The round saw participation from solutions by stc, Prosperity7, Liberty Global Ventures, and stc Corporate Investment Fund.
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Valor Equity Partners, 8VC, Geodesic Capital and U First Capital also contributed in the round, which takes Nile’s total funding raised to $300m.
Nile was founded in 2018 by John Chambers and Pankaj Patel, former Cisco Systems executives.
March Capital co-founder and managing partner Sumant Mandal said: “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.”
The startup has developed a network-as-a-service (NaaS) solution that leverages monitoring, analytics, and automation to offer a more secure wired and wireless service.
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By GlobalDataSince the company’s offering became available last year, it has onboarded customers such as Stanford University, Carta and Pitney Bowes.
Nile said the proceeds will support its goal of removing operational complexities in enterprise networks and offering integrated protection against cyber-attacks to both wired and wireless networks.
With a team of 185 employees, the company plans to grow its sales and marketing division, focusing on mid-sized businesses with 500 to 5,000 staff, reported Reuters.
Nile CEO and co-founder Pankaj Patel said: “Nile is in a strong position to take advantage of several paradigm shifts occurring across the technology ecosystem.
“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.”
