Cloud infrastructure startup Rtbrick raises $6M Series A funding from DTCP and Swisscom Ventures
Rtbrick Inc, a cloud-infrastructure networking startup, today announced a Series A investment of $6 million led by DTCP (Deutsche Telekom Capital Partners) and Swisscom Ventures. The financing will be used to fund Rtbrick’s continued global expansion and for further investment in its cutting edge and patented networking infrastructure software. Dr. Till Stenzel, Vice President at DTCP, will join Rtbrick’s board of directors.
“Network and datacenter operators alike require a software solution that gives them full control and visibility, without lengthy release and update cycles as in the case of current established vendors,” said Till Stenzel. “In Rtbrick, Pravin and Hannes have assembled an impressive engineering team that has developed a complete software stack and targeted microservices for the large and fast-growing market for cloud infrastructure networking software. We are excited to partner with Rtbrick and be part of their growth story.”
The Rtbrick founding team, Hannes Gredler and Pravin Bhandarkar, both Juniper Networks alumni, gained unique insights showing how legacy networking stacks fell short of automation and flexibility requirements of the largest Cloud Infrastructure Operators in the world. This gap in the ecosystem forced many of the cloud operators to make a “build” vs. “buy” decision as prevalent solutions lacked scaling, modularity, and ease of integration requirements. “Strengthening our presence in Europe and with plans to expand in US markets, DTCP and Swisscom Ventures are ideal partners as we execute on our plan to scale our business globally,” said Pravin Bhandarkar, CEO of Rtbrick. “We’re excited to have new partners on board who not only provide us with capital but also have vast strategic experience in our target markets to drive Rtbrick’s growth.”
“Rtbrick has a promising potential for cloud-based networking. Their technology gives us a competitive edge by enabling us to introduce new network services much faster and at reasonable costs” said Walter Goldenits, CTO of Telekom Deutschland GmbH. “Rtbrick’s Cloud Networking Infrastructure Stack is a cornerstone of our ‘Access 4.0’ blueprint which will fundamentally change how we build and operate networks in 2020 and beyond.”
For DTCP, the investment is made through the Telekom Innovation Pool (TIP) fund, which DTCP manages on behalf of Deutsche Telekom. TIP focuses on investments with significant strategic impact for Deutsche Telekom.