US-based edge computing technology developer StackPath secured a $216m series B round, which was co-led by two corporate investors – networking equipment producer Juniper Networks and mass media company Cox Communications. The fresh funding will be used to support product development, commercialisation efforts and engineering. The company was initially running in stealth up until 2016, when it raised its $180m series A round, led by private equity firm Abry Partners and other undisclosed investors. StackPath itself had carried out four acquisitions by that time, having purchased content delivery network provider MaxCDN, traffic management software producer Fireblade, virtual private network operator Cloak and distributed denial of service mitigation technology developer Staminus.
Founded in 2015, StackPath has built a global edge computing and services network to distribute, accelerate and secure cloud-based applications with a wide range of capabilities, which span from running virtual machines to a content delivery network and web application firewall.
StackPath is part of the broader cloud computing space, which has seen much interest from corporate venturers, as illustrated by the GCV Analytics bar chart below. We can clearly see how the number of corporate-backed deals in cloud computing and related tech has remained stable at just above 100 per year from 2016 onward, while the total estimated capital in those rounds has fluctuated between $3bn and just north of $5bn for the same period.
