CDN Company EdgeCast Raises $54 Million
EdgeCast is a content delivery network company that has raised a $54 million fourth round of funding. This round of funding includes a mix of debt. This round of funding was led by Performance Equity Management (PEM). Menlo Ventures and Steamboat Ventures also participated in this round.
EdgeCast will use the funding to build new products. The company will be adding web acceleration products, routing services, and security services going forward.
Founded in 2006, EdgeCast has raised over $20 million in equity funding. EdgeCast has been profitable for four years in a row. They have over 6,000 accounts including Pinterest, Sony, Hulu, and Twitter. EdgeCast also resells its service through Internet Service Providers (ISPs) like AT&T.
EdgeCast has moved beyond trying to resell the EdgeCast CDN to licensing the EdgeCast for building their own CDNs. The money was primarily raised because the company wants to continue investing in the company for building new products and larger sales teams.