Fastly Closes $50 Million to Meet Demand for Edge Cloud Services

SAN FRANCISCO, CA--(Marketwired - May 23, 2017) - Fastly, the edge cloud platform, has announced $50 million in funding led by Sorenson Capital. Following the introduction of Fastly's edge cloud platform, the company has continued to advance at a rapid pace, achieving over 100 percent annualized revenue growth in the last two quarters. Fastly is quickly approaching breakeven and has already reached an annualized run rate of $100 million in just five years to position itself in the top echelon of rapid-growth Silicon Valley companies.

The worldwide cloud services market is projected to grow to $236 billion by 2020. Fastly will use the new funds to meet growing demand for cloud services at the edge and to ensure long-term independence. Fastly's edge cloud platform helps online brands build scalable applications, innovate rapidly, and defend against complex security threats at the edge. As a result, brands can meet customer demand for zero downtime, high speed, and personalized online experiences. Fastly customers include popular online destinations like The New York Times, Airbnb, Spotify, Pinterest, and Ticketmaster.

"The consumer's online experience is shaped primarily by the companies that create it," said Rob Rueckert, managing director at Sorenson Capital. "These companies rely on edge cloud capabilities to create, deliver and update dynamic content instantaneously and securely. Fastly has consistently demonstrated strong growth and is exceptionally well positioned to address increasing market demand for cloud services at the edge of the network."

Fastly's edge cloud platform provides a suite of application delivery, video and streaming, and cloud security solutions, including the company's recently-announced Image Optimizer, Load Balancer and Web Application Firewall (WAF). Over the past two years, Fastly has maintained a 99.99 percent customer satisfaction rating and doubled its overall customer base, adding leading brands like Gannett, Reddit, Alaska Airlines, TED (the producer of TED Talks), and Audi of America.

"Enterprise brands rely increasingly on edge cloud services to support overwhelming consumer demand for dynamic, secure experiences across web, mobile, and IoT," said Artur Bergman, CEO and founder, Fastly. "This additional funding will help accelerate Fastly's exponential growth trajectory, and allow us to continue adding value for our existing customer base."

The $50 million round was led by Sorenson Capital, with participation from additional new investor Sapphire Ventures. Existing investors Iconiq Capital, Amplify Partners, August Capital, O'Reilly AlphaTech Ventures OATV, and IDG Ventures also participated in the round. With this round, Fastly has raised a total of $180 million to date.

To learn more about Fastly, visit: https://www.fastly.com.

About Fastly
Fastly helps the world's most popular digital businesses keep pace with their customer expectations by delivering fast, secure, and scalable online experiences. Businesses trust the Fastly edge cloud platform to accelerate the pace of technical innovation, mitigate evolving threats, and scale on demand. Founded in 2011, Fastly powers online destinations including Airbnb, GitHub, Alaska Airlines, Pinterest, Vimeo, The Guardian, The New York Times and Ticketmaster. Learn more at Fastly.com and follow us on Twitter @fastly.