US-based content delivery network operator Fastly closed a $50m series E round on Tuesday that featured O’Reilly AlphaTech Ventures (OATV), the investment arm of media company O’Reilly Media.
The round was led by growth equity firm Sorenson Capital, with further participation from Sapphire Ventures, the venture capital firm spun out of enterprise software provider SAP, Iconiq Capital, Amplify Partners, August Capital and IDG Ventures, formerly a VC affiliate of events company International Data Group.
Founded in 2011, Fastly operates a content delivery network that scales in real-time to keep up with spikes in demand for content. The platform also includes cloud security technology to protect against botnet attacks, commonly used by malicious actors to force websites offline by drowning them in requests.
Fastly’s clients include businesses such as news publisher New York Times, music streaming services provider Spotify and online event ticketing platform Ticketmaster. The money will help accelerate its growth.
The round took Fastly’s funding to $180m to date, according to its latest press release. It most recently raised $75m in a 2015 series D round led by Iconiq that included OATV, IDG Ventures, Amplify Partners, August Capital and Battery Ventures.
OATV also contributed to a $40m series C round in 2014 alongside IDG Ventures, August, Battery and Amplify, following Fastly’s $10m series B, which was led by August in 2013. OATV, Amplify and Battery had supplied $4m in series A capital for the company the year before.