Total amount raised
$219 Millions
Latest funding date
05/01/2019
Location
Title
Fastly has successfully raised significant funding over multiple rounds, establishing itself as a key player in the edge cloud platform market. The company offers a range of services designed to enhance internet performance and security.
Keep reading to explore the intricacies of Fastly's fundraising journey and the investors backing this innovative platform.
What Is Fastly?
Fastly, founded in 2011, is headquartered in San Francisco, California. The company was established by Artur Bergman, who envisioned a faster, more secure internet.
Specializing in edge cloud platforms, Fastly offers services like content delivery networks (CDNs), DDoS protection, and AI acceleration. Their solutions cater to various industries, including Ecommerce and Streaming Media.
With a team of over 1,000 employees, Fastly continues to innovate, ensuring the internet remains fast and reliable for users worldwide.
How Much Funding Has Fastly Raised?
- Series B Round
- Amount Raised: $10 million
- Date: June 5, 2013
- Lead Investors: August Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its network and enhance its SSD-powered content delivery capabilities.
- Series C Round
- Amount Raised: $40 million
- Date: September 16, 2014
- Lead Investors: August Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow Fastly's team, build more points-of-presence (POPs), and develop product partnerships with Fortune 500 companies.
- Series D Round
- Amount Raised: $75 million
- Date: August 5, 2015
- Lead Investors: ICONIQ Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop innovative real-time content delivery solutions, expand global reach, and invest in e-commerce and security expansion.
- Funding Round
- Amount Raised: $50 million
- Date: May 23, 2017
- Lead Investors: Sorenson Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To meet growing demand for cloud services at the edge and ensure long-term independence.
- IPO
- Amount Raised: $180 million
- Date: May 17, 2019
- Lead Investors: Bank of America Merrill Lynch, Citigroup, and Credit Suisse
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To raise capital for further growth and expansion.
Total Amount Raised: $355 million. Current Valuation: Not publicly disclosed.
Key Investors
- August Capital
- Details: August Capital is a venture capital firm that has been investing in technology companies since 1995. They led Fastly's Series B and Series C funding rounds.
- Investment Focus Areas: Enterprise software, IT infrastructure, consumer technology.
- Notable Investments: Splunk, Seagate, Aardvark.
- ICONIQ Capital
- Details: ICONIQ Capital is a financial advisory and investment firm that manages the wealth of influential tech entrepreneurs. They led Fastly's Series D funding round.
- Investment Focus Areas: Technology, growth-stage companies, financial services.
- Notable Investments: Uber, Airbnb, Snowflake.
- Amplify Partners
- Details: Amplify Partners is a venture capital firm that specializes in early-stage investments in technology companies. They have been consistent investors in Fastly.
- Investment Focus Areas: Enterprise infrastructure, data analytics, cybersecurity.
- Notable Investments: Datadog, Fastly, Chef.
- Battery Ventures
- Details: Battery Ventures is a global investment firm that invests in technology and innovation-driven companies at various stages. They participated in Fastly's Series C and D rounds.
- Investment Focus Areas: Technology, software, industrial technology.
- Notable Investments: Akamai, Groupon, Nutanix.
- IDG Ventures
- Details: IDG Ventures is a global network of venture capital funds with a focus on early and growth-stage technology companies. They have been involved in multiple funding rounds for Fastly.
- Investment Focus Areas: Technology, media, consumer internet.
- Notable Investments: Netscape, F5 Networks, Funzio.
What's Next for Fastly?
Fastly stands at the cusp of significant opportunities, driven by the growing demand for faster and more secure online content delivery. The company is poised to expand its content-distribution network and attract more enterprise customers, leveraging its edge cloud platform to meet the increasing need for zero downtime and high-speed online experiences. With the global cloud services market projected to grow substantially, Fastly's innovative solutions position it well to capture a larger market share.
Future fundraising opportunities appear promising, as Fastly's rapid growth and market demand suggest potential for additional public offerings or private placements. Strategic partnerships or investments from larger technology firms could further bolster its expansion efforts. However, the company faces challenges such as intense competition from major players like Amazon and Google, and the need to continuously innovate to stay ahead. Managing and reducing net losses while scaling operations will be crucial for sustaining long-term growth.
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