CDN Provider EdgeCast Networks today announced it has secured $54 million in new financing, led by Performance Equity Management (PEM), with follow-on participation from the company’s existing investors Menlo Ventures and Steamboat Ventures. The equity portion of the financing was augmented with a debt facility from Silicon Valley Bank.
Roughly two months back, EdgeCast Networks launched EdgeCast Transact, a PCI-compliant acceleration and optimization solution for the world’s largest online retailers.
This Series D growth investment will help EdgeCast:
- Develop and launch new web acceleration,
- Routing and security services,
- Further strengthen its rich intellectual property portfolio,
- Aggressively expand its global network,
- Boster its international sales and marketing efforts.
This investment will be used to fuel EdgeCast Networks’ growth as it continues to focus on three key areas:
- Performance – EdgeCast will continue to innovate with performance as its top priority by expanding its global network and enhancing its optimization offerings.
- Quality & Reliability – EdgeCast plans to constantly evolve and enhance the its service portfolio as the highest quality, most reliable web acceleration and optimization services available anywhere.
- Security – Carrying a substantial portion of the world’s Internet traffic, EdgeCast plans to keep on improving the security of the global web.
“Millions of people use EdgeCast every day – when they use Twitter, Pinterest, Tumblr, Hulu, or any other of the thousands of sites we accelerate worldwide. We deliver more than 4 trillion digital items a month to almost every Internet user in the world,” said Alex Kazerani, Chairman and CEO, EdgeCast .
“We are proud that our investment partners recognize our incredible performance and share our enthusiasm about our continued growth,” he added.