Meter’s expanding tie-up with Microsoft — a technical and commercial integration that puts a network-as-a-service offering into the Azure procurement flow — could reshape how enterprises buy and partners sell networking, and it arrives backed by a major June 2025 Series C that validates the strategy financially and strategically.
Meter was founded in 2015 by brothers Anil and Sunil Varanasi to rebuild enterprise networking from the ground up: hardware, firmware/OS, management software and operations as a single product stack. The company positions itself as a full-stack network provider that delivers routing, switching, security, wireless and cellular under a recurring Network-as-a-Service (NaaS) contract — removing the traditional capex burden from customers and shifting lifecycle responsibility to the vendor. Meter’s recent corporate milestones include a high-profile $170 million Series C in June 2025 that included participation from Microsoft alongside a group of long‑standing Silicon Valley backers.
The coverage that prompted this analysis comes from a recent channel-focused keynote and press reporting that described Meter’s new relationship with Microsoft as both operational (a Marketplace listing) and commercial (allows eligible purchases to satisfy Microsoft Azure Consumption Commitment — MACC). Those same reports capture Meter’s internal metrics — the company told channel audiences that roughly 95 percent of its business flows through partners today and that all new business and renewals are channel‑fulfilled — a claim originating from company statements at the event.
Meter’s entry into the Marketplace and its public statement that customers can acquire Meter network subscriptions via Azure Marketplace and apply those purchases against MACC obligations is therefore a consequential structural change for networking procurement. Meter’s own press materials and public announcement confirm the listing and the MACC‑eligibility messaging; Microsoft’s marketplace rules and documentation explain the technical and billing mechanics that make this possible. That combination — Meter’s product + Microsoft’s billing channel — is the core of the commercial opportunity Meter executives described at the channel event.
It’s worth noting that MACC eligibility, partner‑led private offers, and multiparty private offer flows each have rules and regional support differences; those are governed and explained in Microsoft’s partner documentation. Partners should confirm the exact Marketplace offer type (public, private, or multiparty private offer) and the eligibility specifics before assuming MACC treatment.
This capital infusion is important because hardware-centric models require working capital for manufacturing, inventory, deployment teams and field operations. The Series C gives Meter runway to expand manufacturing and operations and to more aggressively invest in Marketplace integrations and partner enablement. However, capital availability is necessary — not sufficient — for commercial success. The company must still translate marketplace availability into measurable pipeline conversions, partner enablement and durable margins.
That said, the most exciting claims in the company’s narrative remain projections until supported by visible, repeated enterprise case studies and public financial outcomes. Partners and buyers should be pragmatic: confirm MACC eligibility at the SKU level, negotiate operational SLAs, run real pilots, and verify the billing and invoicing mechanics before making procurement decisions that hinge on consumption commitments. The strategic potential is real; precise execution and contract-level details will determine whether that potential becomes predictable, durable revenue for Meter and its channel ecosystem.
This analysis integrates Meter’s public statements and press reporting with Microsoft Marketplace policy and the company’s own press releases; readers should treat forward‑looking sales forecasts and pipeline claims as company projections until corroborated by subsequent published results.
Source: CRN Magazine Meter CEO On Microsoft Relationship: We Expect It To Be ‘The Biggest Channel We Have’
Background
Meter was founded in 2015 by brothers Anil and Sunil Varanasi to rebuild enterprise networking from the ground up: hardware, firmware/OS, management software and operations as a single product stack. The company positions itself as a full-stack network provider that delivers routing, switching, security, wireless and cellular under a recurring Network-as-a-Service (NaaS) contract — removing the traditional capex burden from customers and shifting lifecycle responsibility to the vendor. Meter’s recent corporate milestones include a high-profile $170 million Series C in June 2025 that included participation from Microsoft alongside a group of long‑standing Silicon Valley backers. The coverage that prompted this analysis comes from a recent channel-focused keynote and press reporting that described Meter’s new relationship with Microsoft as both operational (a Marketplace listing) and commercial (allows eligible purchases to satisfy Microsoft Azure Consumption Commitment — MACC). Those same reports capture Meter’s internal metrics — the company told channel audiences that roughly 95 percent of its business flows through partners today and that all new business and renewals are channel‑fulfilled — a claim originating from company statements at the event.
Why this matters now: Microsoft, Marketplace mechanics and MACC
Microsoft’s Azure Marketplace is not just a listing site; it is a procurement and billing engine that enterprises already use to satisfy cloud consumption commitments. Microsoft has built commercial mechanics so that qualifying marketplace purchases can decrement a customer’s MACC (Microsoft Azure Consumption Commitment) — effectively letting customers count third‑party purchases against a pre‑existing spend commitment to Microsoft. Microsoft’s partner and marketplace documentation explicitly covers multiparty private offers and MACC-eligible purchases, which allow partners and ISVs to construct private offers that bill through Microsoft and which can count against a MACC when the offer is eligible.Meter’s entry into the Marketplace and its public statement that customers can acquire Meter network subscriptions via Azure Marketplace and apply those purchases against MACC obligations is therefore a consequential structural change for networking procurement. Meter’s own press materials and public announcement confirm the listing and the MACC‑eligibility messaging; Microsoft’s marketplace rules and documentation explain the technical and billing mechanics that make this possible. That combination — Meter’s product + Microsoft’s billing channel — is the core of the commercial opportunity Meter executives described at the channel event.
The product and GTM model: full‑stack NaaS through the channel
What Meter sells and how it differentiates
- Meter builds and ships integrated networking hardware (appliances, switches, access points) designed to operate with a unified operating system, monitoring plane and lifecycle operations.
- The offering is sold as a subscription (NaaS): Meter installs, maintains and upgrades hardware and software, and bills customers on a recurring cadence.
- The company emphasizes a cohesive engineering philosophy — building rather than aggregating features through acquisitions — and claims close control over both hardware and software to accelerate feature development and operational reliability.
- Reduced initial capital expense (Meter assumes capex risk).
- Predictable opex billing and consolidated lifecycle management.
- Simpler deployments for channel partners, who can focus on service and outcomes rather than hardware logistics.
- Faster upgrades and long‑term refreshes included under the subscription rather than as discrete sales events.
Channel economics: why Microsoft changes the calculus
Meter’s channel-heavy go‑to‑market (company representatives said ~95% of revenue goes through partners) positions the Azure Marketplace integration as a channel amplifier rather than a direct‑to‑customer pivot. When a Marketplace purchase counts against a customer’s MACC, a partner who is already selling Microsoft services can offer Meter through the same procurement route, often with no upfront capex for the customer. According to Meter’s public statements and press coverage of the company’s CEO remarks, that combination accelerates deal velocity and increases the pool of buyers who can use existing cloud commitments to acquire on‑prem network services — something Meter’s leadership called a “remarkable” enabler. Those quotes and figures appeared in channel reporting at the CRN XChange event.It’s worth noting that MACC eligibility, partner‑led private offers, and multiparty private offer flows each have rules and regional support differences; those are governed and explained in Microsoft’s partner documentation. Partners should confirm the exact Marketplace offer type (public, private, or multiparty private offer) and the eligibility specifics before assuming MACC treatment.
Funding and validation: the $170M Series C
Meter’s June 2025 financing — reported as a $170 million Series C — was led by General Catalyst’s Hemant Taneja and included participation from Microsoft along with a roster of well‑known backers and investors. The round both supplies capital for scale and functions as an external validation of Meter’s strategy: full‑stack hardware+software NaaS sold through channel partners and now expanded via Microsoft’s Marketplace machinery. Multiple independent announcements and industry outlets reported the round and the Microsoft participation.This capital infusion is important because hardware-centric models require working capital for manufacturing, inventory, deployment teams and field operations. The Series C gives Meter runway to expand manufacturing and operations and to more aggressively invest in Marketplace integrations and partner enablement. However, capital availability is necessary — not sufficient — for commercial success. The company must still translate marketplace availability into measurable pipeline conversions, partner enablement and durable margins.
What partners stand to gain — and the practical steps they must take
Immediate benefits called out by Meter and channel peers
- Faster closes: partners can structure transactions through a single Marketplace checkout that may apply to a customer’s Azure commit, reducing procurement friction.
- Opex alignment: customers that prefer opex over capex can adopt Meter without an upfront hardware investment.
- Recurring revenue: partners receive recurring share/revenue for sales, aligning with managed‑services economics.
- Simpler deployments: an integrated stack reduces time spent on design, interoperability testing and on‑site break‑fix cycles.
A short procurement checklist for partners and CIOs
- Confirm MACC eligibility: ask the Meter offer team to confirm whether the specific Marketplace SKU is MACC eligible and in which billing regions the eligibility applies. Microsoft’s Marketplace docs show MACC eligibility is offer‑specific.
- Map offer type: verify whether the sale will be handled as a public offer, private offer, or a multiparty private offer (these affect billing, invoicing and partner compensation).
- Negotiate written SLAs and runbooks: ensure commitments for uptime, escalation paths, upgrade windows, and rollback processes are contractually specified.
- Confirm billing flows and tax treatment: Marketplace billing through Microsoft can differ materially from direct invoices — reconcile billing cadence and tax implications for each customer.
- Validate exit and portability: require clear procedures for data export, hardware transfer/repurchase or buyout at contract end to avoid long‑term vendor lock‑in surprises.
- Test a proof of value (PoV): run a scoped pilot covering real traffic, failover scenarios and security integrations before full rollout.
Strengths: why Meter’s pitch is credible
- Unified engineering model: building hardware, OS and management in one product reduces the integration debt that plagues multi‑vendor networking stacks. That can materially reduce operational costs for partners and customers when it works as designed.
- Channel‑first GTM: Meter’s emphasis on partners and managed‑services aligns with modern enterprise procurement, especially where partners own implementation and operations.
- Microsoft distribution leverage: Marketplace presence plus MACC treatment leverages Microsoft’s enormous enterprise footprint, turning an existing cloud commitment into a buying route for on‑prem networking. This is a commercial lever that was not generally available to networking hardware vendors in the same way before.
- Capital backing: the recent Series C provides the cash to scale operations and field teams — a necessary enabler for full‑stack hardware rollouts.
Risks, open questions and caveats
1) Company claims vs. verifiable facts
Some of the most bullish statements made in public forums — forecasts that the Microsoft channel will be “the biggest channel we have” or that the partnership “will drive hundreds of millions in new revenue” — are forward‑looking and should be treated as company guidance rather than proven outcomes. Those projections are plausible but remain unproven at scale and were stated in the channel keynote and press coverage; independent verification requires time and external data showing realized revenue and conversion rates. Consider these statements as directional and monitor deal close rates and published financials for validation.2) Marketplace and contract complexity
Microsoft’s marketplace mechanics are powerful, but they are also governed by precise eligibility rules, regional availability and offer types (public vs private vs multiparty). Not all marketplace‑based purchases automatically decrement MACC — the offer must be configured and eligible. Partners must be careful to confirm the exact structure for each deal. Microsoft’s documentation makes these mechanics explicit and stipulates regional support for some multiparty offers.3) Operational scale and delivery execution
A full‑stack hardware + service model requires manufacturing, logistics, field engineering, and long‑term service capacity. The Series C raises the probability of successful scale, but execution risk is real. If deployments lag, SLA adherence slips, or supply chain issues emerge, partner trust and renewal economics could suffer. External scrutiny of large rollouts will focus on mean time to repair, upgrade cadence and the financial burden of hardware refresh cycles.4) Channel economics and margin pressure
Centralizing procurement and billing through a third‑party marketplace may shift bargaining power dynamics. Large platform owners can influence deal terms and margins (a generic marketplace risk). Channel partners must ensure their margin models and compensation via the Marketplace flow align with their long‑term managed‑services margins.5) Lock‑in and platform dependency
An integrated hardware+software approach offers performance and operational simplicity but increases coupling. Buyers must evaluate migration and portability options, data access, and contingency plans if a strategic vendor relationship changes. Require contractual exit paths and data portability guarantees.Competitive and strategic context
Meter’s approach sits at the intersection of several industry trends:- The broader migration from capex to opex procurement models for IT infrastructure, driven by preference for predictable spend and managed services.
- Hyperscaler adoption of marketplace procurement as a primary commercial vehicle; enterprises increasingly use marketplace offers to centralize vendor management and governance.
- A renewed investor appetite for enterprise hardware companies that combine product differentiation with recurring revenue models; the $170M round reflects that investor thesis.
Practical recommendations for IT leaders and channel partners
- Require a written MACC‑eligibility statement for the specific Marketplace SKU you will purchase. Don’t assume eligibility because a company or press release claims it. Confirm via Microsoft documentation and the vendor’s Marketplace offer details.
- Negotiate SLAs that map to compensation and remediation clauses. Include escalations, financial remedies for downtime, and repair/replace timelines.
- Validate PoV metrics: measure latency, failover behavior, security posture, monitoring telemetry and integration with existing identity and SIEM tooling during a pilot.
- Build a migration and exit plan: ensure the contract includes transfer or buyout terms for hardware, and clear data export formats and timelines.
- Update procurement playbooks: include the Marketplace SKU ID, MACC eligibility status, offer type, invoicing path and partner compensation terms as mandatory fields for any Marketplace-based procurement.
Final assessment
Meter’s combination of an integrated networking product, a channel-first go‑to‑market and a direct commercial path through Microsoft’s Azure Marketplace is a credible and notable innovation in the enterprise networking market. The model addresses a long‑standing friction point — capex shock and fragmented vendor stacks — and leverages Microsoft’s Marketplace billing to unlock a new buyer pool for on‑prem networking sold as a subscription. The $170M Series C and Microsoft’s participation materially de‑risk the capital story and give Meter a chance to scale operations to match the promise.That said, the most exciting claims in the company’s narrative remain projections until supported by visible, repeated enterprise case studies and public financial outcomes. Partners and buyers should be pragmatic: confirm MACC eligibility at the SKU level, negotiate operational SLAs, run real pilots, and verify the billing and invoicing mechanics before making procurement decisions that hinge on consumption commitments. The strategic potential is real; precise execution and contract-level details will determine whether that potential becomes predictable, durable revenue for Meter and its channel ecosystem.
This analysis integrates Meter’s public statements and press reporting with Microsoft Marketplace policy and the company’s own press releases; readers should treat forward‑looking sales forecasts and pipeline claims as company projections until corroborated by subsequent published results.
Source: CRN Magazine Meter CEO On Microsoft Relationship: We Expect It To Be ‘The Biggest Channel We Have’
