Edge computing orchestration startup Zededa has raised $72 million in its latest funding round.
The California-based company last week announced the closing of the Series C round, led by Smith Point Capital which was founded by former Salesforce Co-CEO Keith Block.
The latest funding will see the company further expand sales and marketing activities, as well as accelerate its R&D efforts.
“This latest round of investment validates our leadership position as the preferred choice of large enterprises for their Edge management and orchestration needs,” said Said Ouissal, Zededa founder and CEO. “Our unique and innovative product is powering the explosive demand of ubiquitous Edge computing, underpinning our customer’s AI and real-time data analytics initiatives. With this funding, we are well-positioned to further extend the cloud operational infrastructure model everywhere, to continue to delight our customers, and to realize our vision of powering the next era of computing.”
Zededa offers Edge orchestration software, allowing customers to manage workloads and applications at the Edge.
The company has raised more than $127 million in total since its founding in 2016. Hillman Company, LDV Partners, Endeavor Catalyst Fund, and Forward Investments (DEWA) joined Smith Point Capital as new investors in the company.
Returning investors in this round include Lux Capital, Almaz Capital, Coast Range Capital, Juniper Networks, Emerson Ventures, Chevron Technology Ventures, 5G Open Innovation Lab, Rockwell Automation, and Porsche Ventures.
“We believe Edge computing represents one of the next great waves of digital transformation given its unique ability to address the many challenges presented by an increasingly connected world, creating new category-leading companies like Zededa,” said Keith Block, CEO and founder of Smith Point Capital.
“Said and his team have a big vision and have already solved critical pain points around deploying workloads at scale for several enterprise verticals. As they’ve built the industry-leading solution to power the Edge, we are thrilled to lead the Series C round and help accelerate their position as the market leader for Edge management and orchestration.”
