ZEDEDA – a leader in edge management and orchestration – announced the closing of $72 million in growth capital, with the Series C round led by Smith Point Capital, founded by former Salesforce Co-CEO Keith Block.
With many of the world’s largest companies launched and scaled their critical edge initiatives, they standardized on ZEDEDA for their edge management and orchestration requirements. And the latest funding round enables ZEDEDA to further expand sales and marketing activities and accelerate research and development to meet the rising demand for edge computing.
This growth capital investment emphasizes ZEDEDA’s remarkable business performance and growth over the past year. Annual recurring revenue increased more than 250% year-over-year, and the key metric of nodes under management increased by over 300%, with 12 Global and Fortune 500 customers, capping another year of extreme growth and success. And one notable example includes one of the largest global automobile manufacturers, which has standardized on ZEDEDA to modernize 70,000 dealerships, manufacturing facilities and service centers across 153 countries.
The other 2023 milestones included:
1.) ZEDEDA introduced the industry’s first application services suite ZEDEDA Edge Application Services to make it easier than ever for customers to instantly gain granular control across all of their edge applications, including their modern AI-based applications. And the company launched another industry-first offering with ZEDEDA Edge Kubernetes Service, a fully managed Kubernetes service for the distributed edge.
2.) Steve Ackley joined as Senior VP of Global Sales to help the company expand into new regions Darren Kimura was promoted to President and COO and Raghushankar Vatte became Field CTO and VP of Strategy to focus on strategic customer relationships.
3.) ZEDEDA launched the ZEDEDA Certification Program, a new certification for customers, partners and employees to validate their knowledge, skills and abilities with the company’s edge solution. And ZEDEDA also launched ZEDEDA Certified Edge Computing Associate for anyone interested in learning more about the fundamentals of the edge computing industry.
With this latest round of funding, ZEDEDA also continues to draw significant investment interest. Despite a current tight funding market, the company has now raised over $127 million in total since its founding. Hillman Company, LDV Partners, Endeavor Catalyst Fund and Forward Investments (DEWA) joined Smith Point Capital as new investors in the company. Plus, ZEDEDA saw strong support from returning investors in this round, including Lux Capital, Almaz Capital, Coast Range Capital, Juniper Networks, Emerson Ventures, Chevron Technology Ventures, 5G Open Innovation Lab, Rockwell Automation and Porsche Ventures.
KEY QUOTES:
“This latest round of investment validates our leadership position as the preferred choice of large enterprises for their edge management and orchestration needs. 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.”
- Said Ouissal, ZEDEDA’s CEO and founder
“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 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.”
- Keith Block, CEO and founder of Smith Point Capital
“Emerson customers rely on us to optimize their operations, and our DeltaV Distributed Control System is the foundation for this, providing intelligent control of all plant activities. We have standardized on ZEDEDA as a critical part of our solution, enabling us to extend DeltaV to the distributed edge and provide AI-based data analysis for real-time support for automated decision-making.”
- Claudio Fayad, vice president of technology, process systems and solutions at Emerson
“Our customers’ demand for real-time control, visualization, and closed-loop process and asset optimization applications at the edge remains robust. With our strategic partnership with ZEDEDA, we are able to offer industry-leading, centralized edge management solutions that deliver value across the lifecycle of our customer’s applications, significantly reducing their total cost of ownership.”
- Arvind Rao, vice president of Industry Solutions at Rockwell Automation
