US-based application development software provider Vercel secured $102m on Wednesday in a series C round featuring internet and technology group Alphabet, enterprise software producer Salesforce and cybersecurity software provider Latacora.
The investment was led by investment firm Bedrock Capital with participation from Tiger Global Management, Accel, CRV, Geodesic Capital, Greenoaks Capital, 8VC, Flex Capital and GGV Capital, while Alphabet and Salesforce invested through GV and Salesforce Ventures respectively.
Vercel has built a software platform that enables users to create and deploy front-end applications using the Next.js framework it has created, providing vertical integration from developer experience to edge delivery.
The platform is used by corporate customers including Carhartt, Github, IBM, McDonald’s, Uber and Facebook. The company will use the capital to scale its team globally, boost research and development, drive platform innovation and accelerate adoption of its software.
Vercel CEO Guillermo Rauch said: “We are very pleased to have been able to assemble this unmatched roster of contributors for this round.
“We are looking forward to applying these resources to hiring the best talent in the market and to further developing the platform to help developers create the next big thing, fast.”
This round valued Vercel at $1.1bn according to TechCrunch, and it brought the total raised by the company to $163m, GV having led its $40m series B round in December 2020.
Greenoaks Capital, Bedrock Capital, Geodesic Capital, CRV and Accel also took part in the series B round, the last two having joined Jordan Walke and Nat Friedman in a $21m series A closed eight months earlier.