Content delivery network (CDN) provider Fastly has raised $50 million in a series E funding round led by Sorenson Capital, with participation from Sapphire Ventures, Iconiq Capital, Amplify Partners, August Capital, O’Reilly AlphaTech Ventures (OATV) and IDG Ventures.
The company has raised $180 million in total, bringing in $75 million in its previous funding round back in 2015.
“Enterprise brands rely increasingly on edge cloud services to support overwhelming consumer demand for dynamic, secure experiences across web, mobile, and IoT,” Artur Bergman, CEO and founder of Fastly, said.
“This additional funding will help accelerate Fastly’s exponential growth trajectory, and allow us to continue adding value for our existing customer base.”
The company said that the money would be used to meet growing demand and that the investment will allow it to remain independent over the long-term. Fastly is “quickly approaching breakeven” and has an annualized run rate of $100 million.
Rob Rueckert, MD at Sorenson Capital, said: “The consumer’s online experience is shaped primarily by the companies that create it.
“These companies rely on edge cloud capabilities to create, deliver and update dynamic content instantaneously and securely. Fastly has consistently demonstrated strong growth and is exceptionally well positioned to address increasing market demand for cloud services at the edge of the network.”
Customers of Fastly include Spotify, Reddit, GitHub, Airbnb and Ticketmaster, as well as The New York Times.