Internet and technology conglomerate Alphabet led a $40m series B round for US-based application development technology provider Vercel yesterday through GV, the early-stage investment subsidiary formerly known as Google Ventures.
Greenoaks Capital, Bedrock Capital, Geodesic Capital, CRV and Accel also took part in the round, the last two having joined angel investors Jordan Walke and Nat Friedman in the company’s $21m series A round, which closed in April this year.
Vercel has built a software platform that enables users to create and deploy front-end applications using the Next.js framework it has created, one used on web platforms run by corporate customers including Airbnb and TripAdvisor. Its website also names S28 Capital, Caffeinated Capital, Resolute Capital and Angel.co as investors.
Tyson Clark, general partner at GV, said: “We see a significant uptick in the number of global enterprises transitioning from cloud to serverless computing technologies.
“This opens the door for companies like Vercel to transform the front-end development market. Vercel’s collaborative approach to interactive web applications is well-positioned to become the top choice for developing websites over the next decade.”