ZEDEDA, a specialist in edge management and orchestration, announced today the closing of $72 million in growth capital, with the Series C round led by Smith Point Capital, founded by former Salesforce Co-CEO Keith Block.
As many of the world’s largest companies launched and scaled their critical edge initiatives, they have standardised on ZEDEDA for their edge management and orchestration requirements. The latest funding enables ZEDEDA to further expand sales and marketing activities and accelerate research and development to meet the rising demand for edge computing.
According to Gartner, “by 2027, 20% of large enterprises will have deployed an edge management and orchestration (EMO) solution, compared with fewer than 1% in 2023″. Simultaneously, the demand for AI and machine learning is also exploding. Gartner also predicts that “by 2026, at least 50% of edge computing deployments will involve machine learning (ML), compared with 5% in 2022,” further accelerating the large-scale deployment of edge workloads and increasing adoption of edge management and orchestration.
Said Ouissal, ZEDEDA’s CEO and founder, said: “This latest round of investment validates our leadership position as the preferred choice of large enterprises for their edge management and orchestration needs.
“Our unique and innovative product is powering the explosive demand of ubiquitous edge computing, underpinning our customer’s AI and real-time data analytics initiatives. With this funding, we are well-positioned to further extend the cloud operational infrastructure model everywhere, to continue to delight our customers and to realise our vision of powering the next era of computing.”
Keith Block, CEO and founder of Smith Point Capital, said: “We believe edge computing represents one of the next great waves of digital transformation given its unique ability to address the many challenges presented by an increasingly connected world, creating new category-leading companies like ZEDEDA.
“Said and his team have a big vision and have already solved critical pain points around deploying workloads at scale for several enterprise verticals. As they’ve built the industry-leading solution to power the edge, we are thrilled to lead the Series C round and help accelerate their position as the market leader for edge management and orchestration.”
With this latest round of funding, ZEDEDA continues to draw significant investment interest and, despite a current tight funding market, has now raised over $127 million in total since its founding. Hillman Company, LDV Partners, Endeavor Catalyst Fund and Forward Investments (DEWA) joined Smith Point Capital as new investors in the company. In addition, ZEDEDA saw strong support from returning investors in this round, including Lux Capital, Almaz Capital, Coast Range Capital, Juniper Networks, Emerson Ventures, Chevron Technology Ventures, 5G Open Innovation Lab, Rockwell Automation and Porsche Ventures.
Claudio Fayad, VP of technology, process systems and solutions at Emerson, said: “Emerson customers rely on us to optimise their operations, and our DeltaV Distributed Control System is the foundation for this, providing intelligent control of all plant activities.
“We have standardised on as a critical part of our solution, enabling us to extend DeltaV to the distributed edge and provide AI-based data analysis for real-time support for automated decision-making.”
Arvind Rao, vice president of Industry Solutions at Rockwell Automation, said: “Our customers’ demand for real-time control, visualisation, and closed-loop process and asset optimisation applications at the edge remains robust. With our strategic partnership with ZEDEDA, we are able to offer industry-leading, centralised edge management solutions that deliver value across the lifecycle of our customer’s applications, significantly reducing their total cost of ownership.”
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