US-based cloud-based networking service Teridion closed a $15m series B round yesterday led by Singtel Innov8, the corporate venturing subsidiary of telecommunications firm Singapore Telecommunications.
Venture capital firms Jerusalem Venture Partners (JVP) and Magma Venture Partners also took part in the round.
Teridion’s content distribution network, dubbed Global Cloud Network, facilitates faster download and upload speeds by automatically redirecting traffic to the optimal server location. The service can be set up within minutes and scaled on-demand.
The series B funding will support recruitment efforts in the US and internationally. Concurrent with the funding announcement, the company has made its network, currently used by some 15 companies, generally available.
Teridion has revealed JVP and Magma Venture Partners previously provided $5m in series A funding. The company has also received mentoring and cloud infrastructure support from computing company IBM’s Global Entrepreneur Programme.
Jeff Karas, managing director of Singtel Innov8, said: “Teridion is disrupting a 20-year old approach to content delivery with a product that, simply put, makes the internet much faster.
“We are excited to help Teridion grow, while also adopting its technology to create a faster, more seamless internet experience for the Singtel Group’s customers.”