Zededa raises $16 million for IoT device management software
KYLE_L_WIGGERS | February 25, 2019
The phrase “edge computing” might bear all the earmarks of an annoying buzzword, but don’t let that distract from the market’s upward momentum — global internet of things (IoT) revenue is forecast to hit $1.7 trillion by 2019, when the number of IoT devices connected to the internet will exceed 23 billion, according to analysts at CB Insights. But despite the industry’s long and continued growth, not all organizations think they’re ready for it — in a recent Kaspersky Lab survey, 54 percent said the risks associated with connectivity and integration of IoT ecosystems remained a major challenge. Zededa’s eager to supply solutions. The edge virtualization startup, which was cofounded in 2016 by entrepreneurs Erik Nordmark, Roman Shaposhnik, Said Ouissal, and Vijay Tapaskar, today revealed that it has secured $16 million in series A financing co-led by Energize Ventures and Lux Capital. The oversubscribed round — in which Wild West Capital, Almaz Capital, Barton Capital, and former Motorola CEO and Sun Microsystems COO Ed Zander also participated — brings the company’s total raised to $19.1 million, according to Crunchbase, and will see Wild West Capital’s Kevin DeNuccio, Energize Ventures’ Juan Muldoon, and Lux Capitals’ Bilal Zuberi join Zededa’s board of directors.