EdgeCast Networks continues to grow rapidly in a market that, according to AccuStream Research, will grow to $6 billion annually by 2016. With the addition of more than 2,000 accounts in the past year, EdgeCast has more than 6,000 accounts serving some of the world’s leading web brands.
Companies including Twitter, Pinterest, Tumblr, Sony, and Hulu have chosen the EdgeCast Content Delivery Network and acceleration services. The customer successes have undoubtedly contributed to the fact that EdgeCast Networks now has secured $54 million in new financing.
Content Delivery Network
Led by Performance Equity Management (PEM), with follow-on participation from the company’s existing investors Menlo Ventures and Steamboat Ventures, the $54 million Series D growth investment will help EdgeCast develop and launch new web acceleration, routing and security services, and aggressively expand its global Content Delivery Network. It will also help to bolster its international sales and marketing efforts. The equity portion of the financing was augmented with a debt facility from Silicon Valley Bank.
“Millions of people use the EdgeCast Content Delivery Network every day – when they use Twitter, Pinterest, Tumblr, Hulu, or any other of the thousands of sites we accelerate worldwide,” says Alex Kazerani, EdgeCast Chairman and CEO. “We deliver more than 4 trillion digital items a month to almost every internet user in the world. We are proud that our investment partners recognize our incredible performance and share our enthusiasm about our continued growth.”
“EdgeCast has set itself apart from the competition while continuing to grow dramatically year over year,” says James Tybur of PEM. “This impressive track record has firmly established the company as the top challenger in a rapidly growing market, and we are pleased to support the company’s strong growth.”
EdgeCast was named by Deloitte’s Technology Fast 500 as the number 1 fastest growing company in the internet sector in North America and the 13th-fastest growing company across all sectors. Hosting provider partners of EdgeCast include SoftLayer, INETU, GoGrid and NaviSite.