Thursday, July 18, 2013

EdgeCast Raises $54 Million for CDN

EdgeCast Networks announced $54 million in new financing for its content delivery network.


The company said it has added more than 2,000 accounts in the past year and now has more than 6,000 accounts, including such well-know brands as Twitter, Pinterest, Sony, and Hulu. Its network includes more than 30 POPs in the major data centers where primary carriers exchange traffic.

"Millions of people use EdgeCast every day – when they use Twitter, Pinterest, Tumblr, Hulu, or any other of the thousands of sites we accelerate worldwide. We deliver more than 4 trillion digital items a month to almost every Internet user in the world,” said Alex Kazerani, EdgeCast Chairman and CEO. “We are proud that our investment partners recognize our incredible performance and share our enthusiasm about our continued growth."

The Series D funding round was led by Performance Equity Management (PEM), with follow-on participation from the company’s existing investors Menlo Ventures and Steamboat Ventures. The equity portion of the financing was augmented with a debt facility from Silicon Valley Bank.

http;//www.edgecast.com



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