Edge management and orchestration solutions provider ZEDEDA has completed a significant milestone by raising $72 million in expansion capital in a Series C funding transaction. Leading this financial injection is Smith Point Capital, a venture capital company founded by former Salesforce co-CEO Keith Block, indicating a strong endorsement of ZEDEDA’s mission and technology.
With this most recent funding round, ZEDEDA will be able to fulfill its goals of expanding its operations, particularly in the areas of marketing, sales, and research and development.
Edge computing seems quickly to become a key technology for businesses all over the globe. According to Gartner’s projections, 20% of big companies will have implemented an edge management and orchestration solution by 2027, a considerable increase from less than 1% in 2023. This indicates the growing need for such technologies. Additionally, it is anticipated that by 2026, machine learning (ML) would be included into at least 50% of edge computing installations, representing a significant increase in the integration of AI and ML.
The fundraising round, in the opinion of Said Ouissal, CEO and creator of ZEDEDA, is evidence of the company's leadership in satisfying the complex edge management and orchestration requirements of large businesses. With the additional funding, ZEDEDA hopes to strengthen its capacity to assist clients' AI and real-time data analytics projects by broadening the scope of its cloud operational infrastructure model. According to Mr. Ouissal, this calculated financial boost will be essential to ZEDEDA's goal of enabling the next wave of computers.
Smith Point Capital's Keith Block emphasized how edge computing has the ability to revolutionize how we solve the problems of a more interconnected society. Mr. Block highlighted ZEDEDA's leadership position in the edge computing space and commended the firm for its vision and ability to successfully resolve deployment challenges across a range of corporate verticals.
$127M in Funding to Date
The fundraising round, according to Said Ouissal, CEO and creator of ZEDEDA, is evidence of the company’s leadership in satisfying the complex edge management and orchestration requirements of large businesses.Over $127 million has been raised by ZEDEDA to far, demonstrating significant investor confidence in a difficult financing climate. Together with resolute support from longtime supporters including Lux Capital, Almaz Capital, and Juniper Networks, the Series C round saw participation from new investors such as Hillman Company, LDV Partners, Endeavor Catalyst Fund, and Forward Investments (DEWA).
Big names in the industry, including Emerson and Rockwell Automation, have already included ZEDEDA's products into their processes. For example, Emerson has improved its DeltaV Distributed Control System by standardizing on ZEDEDA and using AI-based data analysis for automated decision-making in real-time. In a similar vein, Rockwell Automation benefits from its strategic alliance with ZEDEDA by providing centralized edge management solutions that drastically lower their clients' total cost of ownership.
The latest funding round caps a year of remarkable growth and achievement for ZEDEDA. The number of nodes under administration increased by more than 300%, and the firm claimed an increase in yearly recurring income of more than 250%. Twelve global and Fortune 500 firms are among ZEDEDA's clientele, demonstrating the company's growing success and impact in the industry. Notably, ZEDEDA has been selected by a major international automaker to modernize its operations across 70,000 dealerships, production plants, and service centers globally.
ZEDEDA has not only grown financially but also significantly in terms of leadership in product and technology, expansion of the executive team, and validation of the market. Among other advancements, the business unveiled the ZEDEDA Edge Application Services and a fully managed Kubernetes solution for the distributed edge. Additionally, the 2023 GigaOm Radar Report for Kubernetes for Edge Computing and the SPARK Matrix for Edge Management and Orchestration Platforms acknowledged ZEDEDA's leadership in the edge computing industry.
With its recent investment and accomplishments, ZEDEDA is demonstrating the rising significance of edge computing in propelling digital transformation across sectors as it develops and broadens its capabilities.
