SAN JOSE — ZEDEDA, a specialist in edge orchestration, announced that it has closed $26 million in Series B funding, capping a period of exponential growth. The broad range of new and existing investors — including Coast Range Capital, Lux Capital, Energize Ventures, Almaz Capital, Porsche Ventures, Chevron Technology Ventures, Juniper Networks, Rockwell Automation, Samsung Next and EDF North America Ventures — signals the importance of edge computing to companies across all industries and verticals.
All existing investors participated in this latest round of financing, which has doubled the previous investment in the company. ZEDEDA has now raised more than $55 million since its inception.
“All aspects of our business — from a growing base of Global 500 customers to major strategic partnerships and growth in deployed edge nodes — are on a terrific path,” said Said Ouissal, founder and CEO of ZEDEDA. “This latest round of investment validates that our open framework and ecosystem approach to the distributed edge is the ideal choice for the future of connected operations.”
A recent Worldwide Edge Spending Guide from IDC forecasted double-digit growth for investments in edge computing. This year’s total is expected to be $176 billion, an increase of 14.8% over 2021, with a 2025 target of nearly $274 billion.
“The market for edge computing solutions is poised for tremendous expansion, and we believe ZEDEDA will be a major contributor,” said Tom Gallo, Managing Partner at Coast Range Capital. “They combine innovation and expertise like no one else in the industry, and we are excited to join them on their journey in this round of funding.”
“Businesses worldwide are looking to take advantage of the benefits of edge computing as they look for ways to support remote work and improve efficiency,” said Bilal Zuberi, Partner at Lux Capital, who has participated in every fundraising round for ZEDEDA. “As a long-time investor, we’re excited to double down with ZEDEDA as they continue to grow rapidly.”
ZEDEDA reports revenue is up 7x year-over-year, while at the same time, its number of nodes under management has risen by 4x. ZEDEDA’s strong growth is fueled by existing customers now applying the company’s solution across different edge deployments in addition to new customers beginning their edge deployments.
ZEDEDA plans to use the round of funding to support its expanding customer base, accelerate research and development and expand its marketing and sales operations. The budding ecosystem around the industry’s first open orchestration solution has attracted strategic partnerships and integrations with Google, Microsoft, PTC, and SUSE. ZEDEDA’s expanding customer base includes OEM activities with Global 500 companies, including a leading global virtualization software provider and a leading industrial automation company.
