The Fabric Closes $20 Million Third Pool of Capital for Co-Creating Cloud and IoT Infrastructure Companies [PRESS RELEASE]
Mountain View, CA – April 25, 2018 – The Fabric, a pioneer in co-creating companies focused on cloud and IoT infrastructure technology, today announced the close of $20 million in investment from Verizon Ventures, March Capital Partners, Citrix and Hitachi along with key individual investors. Fabric 3 is the company’s third dedicated pool of capital raised to invest in early stage cloud infrastructure companies that it co-creates with entrepreneurs, bringing the company’s total investment raised to $41 million.
With cloud computing services expected to reach $411 billion in revenues by 2020 (Gartner Research), The Fabric is uniquely positioned to capitalize on the demand and rapid growth needed in this industry through its approach of matching industry experts with entrepreneurs to develop new companies and products efficiently.
Rajan Raghavan, CEO of The Fabric, said: “The Fabric fills a specific need in the startup and investment spectrum by offering deep technical and entrepreneurial expertise with a collaborative approach, which accelerates value and lowers risk in our co-created companies. In fact, we delivered gross return of 7X in less than 5 years on Fabric 1 to our partners. With Fabric 3, we plan to co-create several new cloud and infrastructure companies over the next few years, continuing to provide key value for both entrepreneurs and investors.”
Andrew Cohen, VP of Corporate Development at Citrix, said: “We are eager to work with The Fabric and the co-founders of its many successful startups to bring innovations to Citrix strategic initiatives in infrastructure technology, such as virtualization and networking.”
The Fabric brings a deeply collaborative approach in co-creating companies with entrepreneurs, and then funds and launches the companies through to Series A investment. The Fabric was founded in 2012 by industry experts Rajan Raghavan, Prabakar Sundarrajan, and Sumant Mandal, and has since co-created eight companies, of which three have already been acquired: VeloCloud acquired by VMware, Perspica acquired by Cisco, and Appcito acquired by A10 Networks.
For more information, visit www.thefabricnet.com.
About The Fabric
The Fabric is a co-creation foundry with a focus on cloud and IoT infrastructure. Launched in 2012 by Rajan Raghavan, Prabakar Sundarrajan, and Sumant Mandal, The Fabric has a team of proven company creators who deeply collaborate with entrepreneurs to help them grow from concept to company. The Fabric takes a unique approach of co-creating, funding and launching companies in the cloud and IoT infrastructure space. With this high-touch approach, The Fabric accelerates values and lowers risk to entrepreneurs and investors. Based in Mountain View, the company has raised over $41 million to enable growth of the infrastructure industry, and has launched eight companies including VeloCloud, Perspica, Appcito, IoTium, Pensa, Spanugo, KMesh, and Rosetta Cyber Security. To learn more, visit: www.thefabricnet.com.