CDN Provider Fastly Raises US$50 Million
CDN provider companies must always look for new ways to develop their services and networks if they are to encourage potential content delivery network customers to take the plunge and leverage their networks to deliver the content to customers around the world. These improvements can come in the form of either expanded networks, through the creation of new PoPs (points of presence) at strategic traffic hotspots around the world, or through the development of innovative new CDN services.
This kind of development, however, can be very expensive for a CDN provider to embark upon, especially smaller CDNs with lower market share looking to expand. This is why it is important for CDN providers to raise finance to help them invest in their future.
CDN Provider Fund Raising Benefits
The latest CDN provider to raise vast sums of money to fund expansion is Fastly, a leading provider of high performance CDN services. They have raised US$50 million in a bid to grow its footprint and offer its customers the best service possible. This new round of funding takes the total amount raised by the company to US$180 million.
“Enterprise brands rely increasingly on edge cloud services to support overwhelming consumer demand for dynamic, secure experiences across web, mobile, and IoT,” said Fastly CEO and founder Artur Bergman. “This additional funding will help accelerate Fastly’s exponential growth trajectory and allow us to continue adding value for our existing customer base.”
“Fastly has consistently demonstrated strong growth and is exceptionally well-positioned to address increasing market demand for cloud services at the edge of the network,” added Sorenson Capital managing director Rob Rueckert.