SAN JOSE, Calif. – February 9, 2023 – Arrcus, the hyperscale networking software company and a leader in core, edge and multi-cloud network infrastructure, today announced the close of a fresh financing round that brings $50 million in total capital raised since the last venture financing round. Prosperity7 Ventures is leading the Series D equity round.
“Leading global customers are making the shift to Arrcus’ disruptively innovative ACE platform for data center switching, 5G carrier routing and multi-cloud networking. As we continue gaining market momentum, we are pleased to welcome Prosperity7 as our new lead investor,” said Shekar Ayyar, CEO and chairman at Arrcus. “With its extensive global reach, Prosperity7 is a great investor and partner for us in its ability to support us in our rapid growth and future investment requirements.”
“Modern networks that can flexibly leverage private infrastructure as well as public clouds and 5G will be key to unlocking the fourth industrial revolution and driving the next wave of digital transformation in critical industries that power the world,” said Aysar Tayeb, executive managing director of Prosperity7. “We believe Arrcus is a disruptive leader in next generation network infrastructure that is software defined, flexible, programmable and efficient; and we are excited to support the company and its distinguished team.”
In this round of financing, Prosperity7 is joined by existing investors Clear Ventures, General Catalyst, Liberty Global and Lightspeed, as well as Silicon Valley Bank, which provided credit facilities. Upon completion of this financing round, in an investment climate where many companies are being marked down, Arrcus’ valuation will nearly double, which is a true testimony of the company’s leadership. The new funds will be used to grow Arrcus’ global go-to-market presence, in addition to strengthening engineering and R&D talent.