Meter, a San Francisco-based networking infrastructure startup backed by OpenAI CEO Sam Altman, has raised US$170 million in its series C funding round.

The round was led by Hemant Taneja from General Catalyst, with participation from Baillie Gifford, Lachy Groom, J.P. Morgan, Microsoft, Sequoia Capital, and WndrCo.

Meter plans to use the funds to further develop its infrastructure solutions to address increasing internet usage demands. The company explains its technology is suitable for networks ranging from small offices to large data centers.

The company specializes in networking infrastructure, including routing, switching, and wireless technology. Its solutions support operations for organizations such as Bridgewater, Lyft, and Reddit.

In addition to direct customers, Meter partners with firms like CDW, Microsoft, and WWT to broaden its market reach.

🔗 Source: Meter

🧠 Food for thought

1️⃣ Network infrastructure evolution comes full circle with enterprise-focused startups

Meter’s $170M Series C funding comes at a pivotal moment in networking’s historical trajectory, where infrastructure has evolved from government-controlled systems to commercial enterprises and now to specialized providers.

The internet began with DARPA’s initiatives in 1973 and expanded through NSFNET, which by 1991 connected over 5,000 networks across 30+ countries serving approximately 4 million users 1.

A critical transition occurred in 1995 when the NSFNET was decommissioned, shifting internet backbone operations from government to commercial providers, creating the market structure we know today 2.

Meter’s ambition to be “the last networking company” represents a new phase where startups are reinventing network infrastructure for modern enterprises with comprehensive approaches rather than point solutions.

2️⃣ Enterprise networking undergoes transformation driven by flexibility and automation

Meter’s focus on rebuilding networking infrastructure aligns with broader industry shifts toward more flexible, automated network management systems.

Network-as-a-Service (NaaS) models are becoming the standard approach for enterprises seeking cost-effective, agile connectivity solutions that can adapt to changing business needs 3.

By 2027, a significant majority of enterprises are expected to adopt cloud-native networking approaches to support increasingly complex digital and AI workflows 4.