Edge Orchestration Provider ZEDEDA Secures $72M Series C Round

Author photo: Chantal Polsonetti
ByChantal Polsonetti
Category:
Financial

ZEDEDA, the edge management and orchestration provider, 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.  The new funding enables ZEDEDA to further expand sales and marketing activities and accelerate research and development to meet the rising demand for edge computing. Over the past year, the company has increased annual recurring revenue by more than 250% and increased nodes under management by more than 300 percent. 

With this latest round of funding, ZEDEDA 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. In addition, 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.  Emerson has standardized on ZEDEDA to extend DeltaV to the distributed edge and provide AI-based data analysis for real-time support for automated decision-making.

 

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