A group of well-known investors have contributed $170 million to the corporate network development firm Meter Inc.

Leader of the round was General Catalyst. In addition to many other investors, Baillie Gifford, J.P. Morgan, Microsoft Corp., and Sequoia Capital also took part, as Meter explained in its announcement of the purchase today. Meter has previously secured over $145 million from a group that includes Sam Altman, the CEO of OpenAI.

The information technology department of a business must link the new office to the corporate network when it opens. There is a lot of work involved in the task. The new office’s network equipment needs to be chosen, deployed, and connected to other company locations by the administrators. For its clients, Meter says to automate the process.

The San Francisco-based business offers a line of networking equipment that it has created in-house. It provides switches and access points to give PDUs and employees WiFi connectivity. One tool that helps lower the quantity of power cords required to support network equipment is a power distribution unit, or PDU. It can also be used as an observability tool to track metrics like electricity consumption and switch temperature.

In addition to networking gear, Meter also offers cybersecurity appliances. Employees can access company apps remotely thanks to the devices’ VPN (virtual private network) capabilities and ability to block harmful data. Meter claims that in order to stop malware from spreading over a company network, its gadgets may also segregate IT systems from one another.

The business installs networking equipment for clients in addition to providing them with it. Additionally, Meter has the ability to oversee the broadband plans that businesses purchase from internet service providers. Network communication between corporate sites is made possible by the infrastructure of those internet providers.

The business offers a software platform that resolves typical technical problems automatically. The software can switch to a different internet provider if the one a company uses to connect its offices has technical problems. It also fixes problems with wifi connectivity. The software increases the signal strength of the closest operational access point when an access point goes offline.

Meter is working on an AI model that will enable it to automate further troubleshooting activities. The corporation claims that the algorithm leverages technical data gathered from its network architecture and has billions of parameters. Tens of thousands of graphics cards provided by Microsoft, one of the investors in its most recent fundraising round, are being used to train it.

On the occasion of the investment, the networking provider disclosed that Reddit Inc., Lyft Inc., and other well-known clients have adopted its technology. The New York Times reports that Meter plans to use the funds to encourage data centers to embrace its technology. Additionally, the business intends to expand globally.