From the Desk of the CEO: Pluribus Raises $20M from Morgan Stanley Expansion Capital to Fuel Growth
To the Pluribus Networks community:
Today, Pluribus Networks announced a funding round of $20 million led by Morgan Stanley Expansion Capital. This is an extremely exciting time for our company and for the industry, and the capital raised during this round will enable Pluribus to increase R&D and add sales and marketing capacity to accelerate its growth in the distributed cloud market, as well as expand into adjacent segments. In the coming months, we’ll be announcing a number of new product and partner initiatives that reflect the market’s increasing need for cost-effective and highly-automated data center networking fabric solutions.
The timing around this funding news is truly ideal. Industry analysts are consistently forecasting an increase in market opportunities around data center switching as digital transformation continues to accelerate globally – Dell ’Oro Group expects the market to surpass $20 billion by 2025. Furthermore, research completed this year by Enterprise Management Associates shows that the majority of enterprises are increasing their number of data center sites and over 80% intend to deploy active-active data centers to support availability zones. In that same research enterprises identify their top two challenges as network operational complexity and network architecture complexity. Pluribus Networks’ Netvisor® Continue reading
