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Pelion Venture Partners led a $20M Series A round for Macrometa, an edge computing firm. The Palo Alto-based startup plans to use the fresh funding to grow its commercial client base and link with content delivery networks, among other things.
Macrometa, an edge computing startup, has announced that it has raised $20 million in a Series A round led by Pelion Venture Partners. Other participants include DNX Ventures, Benhamou Global Ventures (BGV), Partech Partners, Shasta Ventures, Fusion Fund, and Sway Ventures.
The Palo Alto-based company, which also has offices in Bulgaria and India, aims to spend the new funds on product development, expanding its business client base, and connecting with content delivery networks (CDNs), cloud, and telecom providers. It plans to employ engineers and product developers in the United States, Eastern Europe, and India and also open new offices in Ukraine, Portugal, Greece, Mexico, and Argentina.
Macrometa’s board of directors was expanded as part of the new investment, with Chris Cooper, general partner at Pelion, joining as a director; Zain Rizavi, senior associate at Pelion; Eva Nahari, principal at DNX Ventures, joining as board observers.
The Macrometa global data network combines a worldwide distributed NoSQL database with a low-latency stream data processing engine, allowing web and cloud developers to execute and scale data-intensive, real-time cloud applications. Developers may run apps in parallel across the network’s 175 points of presence (PoPs), or edge areas, across the world, depending on which is nearest to an end-user.
Macrometa says that the average roundtrip time (RTT) for customers connecting from laptops or phones to their edge cloud and back is less than 50 milliseconds globally, 50x to 100x quicker than cloud platforms such as DyanmoDB, MongoDB, or Firebase.
According to Chetan Venkatesh, CEO of Macrometa, the COVID-19 pandemic boosted Macrometa’s sales since its enterprise and web-scale clients were required to handle the unexpected data traffic patterns caused by remote work.
Mr. Venkatesh further mentioned that numerous big telecom operators had utilized Macrometa’s data stream ingestion and complex event processing platform to replace older data ingest systems such as Splunk, Tibco, and Apache Kafka.
Chris Cooper, general partner at Pelion Venture Partners, said in a statement,
“We believe the next phase of computing will be focused on the edge, ultimately bringing cloud-based workloads closer to the end-user. As more and more workloads move away from a centralized cloud model, Macrometa is becoming the de facto edge provider to run data-heavy and compute-intensive workloads for developers and enterprises alike, globally.”