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Alkira announced a $100 million Series C on May 15, 2024, led by Tiger Global Management. The company said the round brought its total disclosed funding to $176 million. It planned to use the capital to expand its cloud-delivered networking platform for multicloud, WAN, partner, security, and AI workloads. Lumen completed its acquisition of Alkira on July 7, 2026.
How much did Alkira raise, and who invested?
The Series C raised $100 million, Alkira announced on May 15, 2024. The company said the round brought its total disclosed funding to $176 million. Tiger Global Management led the investment. Dallas Venture Capital, Geodesic Capital, LIAN Group, and NextEquity Partners also invested; existing investors Kleiner Perkins, Koch Disruptive Technologies, and Sequoia Capital participated.
Alkira linked the funding to rapid growth in cloud and AI workloads. Its announcement cited Gartner forecasts of $679 billion in worldwide public-cloud end-user spending in 2024 and more than $1 trillion in 2027. Those were forecasts cited in 2024, not Alkira revenue figures or funding amounts. Alkira’s Series C announcement includes the round details and its stated rationale.
What does Alkira do?
Alkira provides Network Infrastructure-as-a-Service: a cloud-delivered networking service intended to connect public clouds, on-premises locations, remote users, applications, and partners, with security integrated into the service. Instead of building every connection from customer-owned network hardware, circuits, and on-site software appliances, customers can provision and manage connections through the service.
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Alkira said its platform could connect any cloud, on-premises location, remote user, or application to another point of presence and build global secure networks in minutes. The company described policy controls and integration with familiar security systems as part of the model. These are product capabilities and performance claims made by Alkira; the announcement does not establish that every customer deployment takes minutes or eliminates all physical infrastructure.
Why did Alkira say secure multicloud networking mattered?
Using more than one cloud can create a patchwork of networks, access rules, and security controls. Connecting cloud services to data centers, offices, remote users, applications, and business partners adds more paths to manage. A service that brings these connections and policies into one operating model may reduce the burden of managing separate network components, while helping organizations apply security controls across environments.
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That is the problem Alkira positioned its platform to address, rather than evidence that a cloud service is automatically simpler or more secure for every organization. Companies evaluating this approach should compare it with hardware- or appliance-based networking on deployment model, reach across clouds and sites, security and policy control, WAN and partner connectivity, operational effort, and the quality of evidence supporting claimed savings.
What did Alkira plan to fund with the Series C?
Alkira said it would invest the proceeds in several areas:
- Multicloud expansion: broaden networking across cloud providers and environments.
- WAN connectivity: develop new ways to connect wide-area networks.
- Partner connections: make it simpler for customers to link networks with partners.
- End-to-end secure networking: extend integrated security across connected environments.
- AI workloads: prepare the platform for networking demands associated with artificial intelligence.
These were announced priorities, not a published allocation of the $100 million by project or a guarantee that each initiative would be completed on a particular timetable.
What did Alkira report after the funding round?
In a January 30, 2025 recap, Alkira said it had added more than 110 features, launched comprehensive Zero Trust Network Access (ZTNA), introduced a Google Cloud Exchange Point, and expanded its cloud backbone to more than 55 regions. It also reported 255% year-over-year growth in channel annual contract value (ACV), and said a retail deployment covering more than 1,000 stores was completed in two weeks. These are company-reported milestones, not independently verified measures of typical customer outcomes. Alkira’s 2024 recap describes them.
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The recap also cited findings from the 2024 Nemertes REV Report, including reductions in time to add clouds and manage cloud networks, faster data-center and partner connections, fewer required firewalls, and fewer devices needed for cloud connections. Alkira reported the results; they should be treated as study findings as presented by the company, not as independent tests conducted for this article or guaranteed savings for a prospective customer.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened to Alkira after the Series C?
Lumen completed its acquisition of Alkira on July 7, 2026. Lumen said Alkira technology is expected to become part of Lumen Connect, combining Lumen Multi-Cloud Gateway, cloud on-ramps, and on-net and off-net connectivity in a service for managing secure connections across clouds, sites, partners, and AI workloads. Lumen described this integration as an expected future offering, not as a completed product launch. Lumen’s acquisition completion announcement provides its description of the planned integration.
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