Stateless Raises $1.4 Million to Make ‘Network-as-a-Service’ a Reality
Boulder, Colo. – Dec. 5, 2017 – Stateless, a Boulder, CO-based tech startup, has raised $1.4M in seed stage funding to support the growth of its network-as-a-service platform.
The round was led by European VC Speedinvest, with additional capital coming from EVO Venture Partners, Techstars, PV Ventures, Service Provider Capital and a collection of angels.
Stateless is revolutionizing software-defined networks by building virtual network functions, such as firewalls and load balancers, that are easy to offer and consume through the “as-a-service” model. Cloud computing and storage services have modernized in recent years to meet users’ “as a service” demands. But networks, and specifically network functions, have lagged behind, leaving network operators in an array of industries including managed hosting, telecommunications and large enterprises struggling to keep users satisfied.
Recently, virtualized network functions have risen in popularity to help offset the high capital expenditures associated with traditional networking hardware, but they have failed to provide the flexibility and scalability needed for today’s networks. Stateless’ platform and network functions seek to solve this problem and in doing so move networks into the cloud era.
The company developed its technology as a spinoff of research conducted at the University of Colorado Boulder. Stateless recently graduated from the 2017 class of Techstars Boulder and has been a recipient of two grants from the National Science Foundation.
“Stateless is a rare organization, in that they have taken cutting edge research, applied it successfully in a commercial setting and have introduced not only enormous gains in network performance and flexibility, but also potentially revolutionized the way network services are consumed, not only from a technical but from a business perspective.”
To learn more about the Stateless platform, or to request a demo, please visit: https://www.bestateless.com