Networking equipment producer Juniper Networks and mass media company Cox Communications co-led a $216m series B round for US-based edge computing technology developer StackPath yesterday.
Founded in 2015, StackPath has built a global edge computing and services network to distribute, accelerate and secure cloud-based applications. Its capabilities range from running virtual machines to a content delivery network and web application firewall.
The funding will be channelled into product development, engineering and commercialisation efforts.
Kevin Hutchins, senior vice-president (VP) of strategy and corporate development at Juniper Networks, has joined StackPath’s board of directors together with Sujata Gosalia, executive VP and chief strategy officer for Cox Communications.
The company emerged from stealth in 2016 with $180m it had secured in a series A round led by private equity firm Abry Partners that included unnamed additional investors.
StackPath had completed four acquisitions by the time it emerged from stealth – content delivery network provider MaxCDN, traffic management software producer Fireblade, virtual private network operator Cloak and distributed denial of service mitigation technology developer Staminus.
Wen Temitim, StackPath’s chief technology officer, said: “We are so excited to have Juniper and Cox join us in setting the direction and turbocharging the success of StackPath.
“We have laid the technology and operational foundation for StackPath to be the default edge-computing platform. Juniper and Cox join us at the beginning of the next phase of our strategy – which is to deliver more on our foundation and move it even closer to end users and devices.”
Barclays Capital and PJ Solomon were lead placement agents for StackPath on transaction, also providing financial advice alongside DH Capital, while DLA Piper was legal adviser on the deal.
