April 20, 2024

ZEDEDA raises $72M in growth capital to meet demand for cutting-edge computing and AI

  • February 9, 2024
  • ZEDEDA
  • News
ZEDEDA raises $72M in growth capital to meet demand for cutting-edge computing and AI
ZEDEDA raises $72M in growth capital to meet demand for cutting-edge computing and AI

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.

As many of the world’s largest enterprises have launched and expanded their critical edge initiatives, they have standardized on ZEDEDA for their edge management and orchestration requirements. The latest funding allows ZEDEDA to further expand sales and marketing activities and accelerate research and development to meet the growing demand for edge computing.

According to Gartner, “by 2027, 20% of large enterprises will have deployed an edge management and orchestration (EMO) solution, compared to less than 1% in 2023.”* At the same time, demand for artificial intelligence and Machine learning is also exploding. Gartner also predicts that “by 2026, at least 50% of edge computing deployments will involve machine learning (ML), up from 5% in 2022,”* further accelerating large-scale deployment of workloads and increasing the adoption of edge management and orchestration.

“This latest round of investment validates our leadership position as the preferred choice of large enterprises for their cutting-edge management and orchestration needs,” said Said Ouissal, CEO and founder of ZEDEDA. “Our unique and innovative product is driving explosive demand for ubiquitous edge computing, supporting our customers’ real-time data analytics and artificial intelligence initiatives. “With this funding, we are well positioned to further expand the cloud operational infrastructure model everywhere, continue to delight our customers, and realize our vision of powering the next era of computing.”

“We believe that 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 Keith Block, CEO and founder of Smith. Crux. “Said and his team have a great vision and have already solved pain points related to deploying workloads at scale for various business verticals. “As they have created the industry-leading solution to power the edge, we are delighted to lead the Series C round and help accelerate their position as the market leader in edge management and orchestration.”

ZEDEDA has raised over $127M to date

With this latest round of funding, ZEDEDA continues to attract significant investment interest and, despite the current tight funding market, has raised more than $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. Additionally, ZEDEDA had 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 customers trust us to optimize their operations, and our DeltaV distributed control system is the foundation for this, providing intelligent control of all plant activities,” said Claudio Fayad, vice president of technology, systems. of Emerson processes and solutions. “We have standardized ZEDEDA as a critical part of our solution, allowing us to extend DeltaV to the distributed edge and provide AI-based data analytics for real-time support for automated decision making.”

“Our customers’ demand for real-time control, visualization and closed-loop processes and asset optimization applications at the edge remains strong,” said Arvind Rao, vice president of Industrial Solutions at Rockwell Automation. “With our strategic partnership with ZEDEDA, we can deliver industry-leading, centralized edge management solutions that deliver value across the entire lifecycle of our customers’ applications, significantly reducing their total cost of ownership.”

Latest funding caps year of expanded growth

The growth capital investment emphasizes ZEDEDA’s notable business performance and growth over the past year. Annual recurring revenue increased more than 250% year over year, and the key nodes under management metric increased by more than 300%, with 12 global and Fortune 500 customers, capping another year of extreme growth and success. A 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 in 153 countries.

Other 2023 milestones included:

  • Product and technology leadership: ZEDEDA introduced the industry’s first suite of application services, ZEDEDA Edge Application Services, to make it easier than ever for customers to instantly gain granular control across all their edge applications, including their modern AI-based applications. The company launched another industry-first offering with ZEDEDA Edge Kubernetes Service, a fully managed Kubernetes service for the distributed edge.
  • Expanded executive team: Steve Ackley joined as senior vice president of global sales to help the company expand into new regions, Darren Kimura was promoted to president and chief operating officer, and Raghushankar Vatte became chief field technology officer and vice president of strategy to focus on strategic relationships with clients.
  • Certification Program: ZEDEDA launched the ZEDEDA Certification Program, a new certification for clients, partners and employees to validate their knowledge, skills and capabilities with the company’s cutting-edge solution. ZEDEDA also launched ZEDEDA Certified Edge Computing Associate for anyone interested in learning more about the fundamentals of the edge computing industry.
  • Market validation: ZEDEDA was recognized as a “Leader” and “Outperformer” in the GigaOm Radar 2023 Report for Kubernetes for Edge Computing and positioned as a technology leader in the SPARK Matrix: Edge Management and Orchestration (EMO) Platform. ZEDEDA has also obtained ISO/IEC 27001:2022 certification, the internationally recognized information security standard.

ZEDEDA is actively hiring for sales and engineering positions worldwide. For more information and to apply, visit the website.

* Gartner, Predicts 2024: Edge Computing Technologies Are Gaining Ground and Maturity, Thomas Bittman, Tony Iams, Sandeep Unni, Eric Goodness, and Bob Gill, October 18, 2023. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the US and internationally and is used herein with permission. All rights reserved.

About ZEDEDA

ZEDEDA makes edge computing simple, open and intrinsically secure, extending the cloud experience to the edge. ZEDEDA reduces the cost of managing and orchestrating distributed edge infrastructure and applications while increasing visibility, security, and control. ZEDEDA offers instant value, has tens of thousands of nodes under management, and is backed by world-class investors with teams in the United States, Germany, and India.


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