![]() ![]() The move comes as SoftBank faces mounting pressure from investors over its investment strategy. Additionally, SoftBank has reduced its investment in WeWork, which has been struggling in recent months following a failed attempt at an initial public offering. SoftBank has also reportedly sold off its entire stake in Slack, which went public in June of 2019. The report indicates that SoftBank has sold approximately $2 billion worth of shares in Uber, reducing its stake in the ride-hailing giant from 13% to 10%. According to a recent report by VentureBeat, SoftBank has sold off portions of its holdings in Uber, Slack, and WeWork, among others. The company is headquartered in San Jose, California.75m softbank vision fundsawersventurebeat, the world’s largest technology-focused venture capital fund, has reportedly cut its stake in several high-profile tech companies. The Arrcus team consists of world-class technologists who have an unparalleled record in shipping industry-leading networking products, complemented by industry thought leaders, operating executives, and strategic company builders. Our mission is to provide software-powered network transformation for the interconnected world. Arrcus has solved these foundational challenges and has all the ingredients to lead the transformation for this large market,” said Guru Chahal, Partner at Lightspeed.Īrrcus was founded to enrich human experiences by interconnecting people, machines, and data. “Data center, cloud-to-edge and 5G solutions, and the information revolution are all accelerating broad-based infrastructure upgrade cycles that require flexible, massively-scalable, and highly cost-efficient routing-centric networking solutions. It’s an exciting time at Arrcus as our disruptive vision democratizes the networking industry by providing best-in-class software, the most flexible consumption model, and the lowest total cost of ownership for our customers.” Business providers and enterprises alike want to move away from closed, proprietary, vertically-integrated systems and prefer the freedom of choice. As a result, customers can cost-effectively design, deploy, and manage infrastructure today while seamlessly scaling to the needs of hyperscale cloud, edge, as well as 5G networks and beyond.Īrrcus co-founder and CEO Devesh Garg, said: “I’m thrilled that Lightspeed and Guru have joined the Arrcus team as they strengthen our infrastructure expertise and operational scale to support the ArcOS ® production ramp. The company has delivered networking innovations and solutions that provide a single, unified architecture across physical, virtual, and cloud network environments while delivering operational flexibility, superior performance, and security. Nancy Lee, CHRO of Lime, ex-VP of People, Google. ![]() ![]() Shawn Zandi, Director of Network Engineering, LinkedIn.Rajiv Patel, ex-VP of Engineering, Juniper.Fred Baker, former Cisco Fellow, IETF Chair & Co-Chair, IPv6 Working Group.Kelly Ahuja, former SVP/GM, Service Provider Business, Cisco & presently CEO, Versa.Amarjit Gill, serial entrepreneur who founded and sold companies to Apple, Broadcom, Cisco, EMC, Facebook, Google, and Intel.Pankaj Patel, former EVP and CDO, Cisco.The Arrcus team consists of world-class, industry-leading technologists, from networking, routing, infrastructure, quality and reliability, and automation environments, who have an unparalleled record of having collectively shipped 630+ production volume products and publishing 275+ IETF papers/RFCs while holding 190+ patents. With this announcement, Guru Chahal, Partner at Lightspeed, joins Steve Herrod, Managing Director at General Catalyst and Chris Rust, founder and General Partner at Clear Ventures on the board of directors.Īrrcus delivers high-density 100G/400G Jericho2-based solutions for hyperscale cloud, edge, and 5G networks, supported by the most flexible consumption model and the lowest TCO.Īrrcus was founded in 2016 by Broadcom and Cisco veterans, Devesh Garg, Keyur Patel, and Derek Yeung. Having delivered production deployments across data center, content delivery network, and service provider environments, the funding enables Arrcus to expand its operations to support its rapidly-growing customer base, scale strategic partnerships, and expand the reach of its market-leading independent network operating system, ArcOS ®. The oversubscribed round, which brings the total capital raised to $49 million, was led by Lightspeed Venture Partners and included full participation from existing investors General Catalyst and Clear Ventures. SAN JOSE, Calif., J(GLOBE NEWSWIRE) - Arrcus, a leading provider of software driven solutions that power network transformation for the interconnected world, today announced $30 million in Series B funding. ![]()
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