Deutsche Telekom Capital Partners (DTCP), the corporate venturing vehicle for telecommunications firm Deutsche Telekom, led a $40m funding round for US-based content delivery software provider Fastly on Monday.
Swisscom Ventures, the corporate venture capital arm of telecoms company Swisscom, also participated in the round, along with VC fund Sozo Ventures and unnamed existing backers.
Fastly has developed an edge cloud platform that enables digital publishing, e-commerce and livestreaming businesses to automate their content delivery network, meaning more content can be cached as well as changed more quickly.
The company’s content delivery platform helps clients optimise text content and images more effectively, and it also provides a video streaming platform. The latest round brings its overall funding to $220m since it was founded in 2011.
O’Reilly AlphaTech Ventures (OATV), a subsidiary of media company O’Reilly Media, joined Amplify Partners and Battery Ventures to provide $4m of series A funding for Fastly in 2012 before fellow VC firm August Capital added $10m the following year.
Fastly raised $40m in series C funding from OATV, Amplify Partners, August Capital, Battery Ventures and IDG Ventures in 2014, all of which backed its $75m series D round alongside Iconiq Capital in 2015.
Growth equity firm Sorenson Capital led the company’s $50m series E round in May 2017, investing together with Sapphire Ventures, Iconiq Capital, Amplify Partners, August Capital and IDG Ventures.
Jack Young, head of venture capital at DTCP’s Silicon Valley office, said: “Speed and security are the backbone of a strong internet, and Fastly provides the most valuable, differentiated approach to this that we have seen.
“We look forward to supporting Fastly as it corners the cloud services market and accelerates its diverse leadership.”