US-based edge computing system developer Vapor IO increased its series C round to $90m yesterday, adding funding from communications infrastructure manager Crown Castle and private equity firm Berkshire Partners.
The company has not disclosed the size of the tranche but Berkshire Partners had previously led the round’s first close in September 2018, which also featured Crown Castle.
Vapor has built an edge computing exchange, co-location and networking platform to serve businesses such as wireless cable operators, network carriers and cloud services providers.
Kinetic Edge has been launched in the cities of Chicago, Atlanta, Dallas and Pittsburgh, and the company aims to have introduced the technology in 20 cities by the end of this year.
Cole Crawford, Vapor’s founder and CEO, said: “By deploying Vapor IO’s Kinetic Edge exchange, co-location and networking services in the top US markets, we provide a platform to deliver low-latency edge capabilities at the intersection of the wireline and wireless networks.
“With a total of 36 multi-site markets coming online over the next 24 months, we expect to be the largest provider of edge co-location, edge networking, and edge exchange services in close proximity to the last-mile networks.”
Investment banking firm Goldman Sachs led a series A round of undisclosed size for the company in 2015 that included venture capital firm AVX Partners. It has not revealed details of its series B funding.
