Total amount raised
$219 Millions
Latest funding date
5/1/2019
Location
Fastly has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company offers a robust edge cloud platform designed to enhance digital experiences.
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 by Artur Bergman and Simon Wistow, is headquartered in San Francisco, California. The company specializes in providing an edge cloud platform designed to enhance the speed, security, and reliability of web applications.
Fastly's services include a content delivery network (CDN), cybersecurity solutions, object storage, DDoS protection, and AI acceleration. Their platform is fully programmable, offering smarter solutions, better insights, and more control for clients.
With a workforce of 1001-5000 employees, Fastly continues to innovate and support digital businesses in meeting customer expectations through secure and efficient online experiences.
How Much Funding Has Fastly Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the core technology and launch the company.
- Series A
- Amount Raised: $4M
- Date: May 2012
- Lead Investors: Battery Ventures, O'Reilly AlphaTech Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $10M
- Date: June 2013
- Lead Investors: August Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance infrastructure.
- Series C
- Amount Raised: $40M
- Date: September 2014
- Lead Investors: August Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support global expansion and increase market reach.
- Series D
- Amount Raised: $75M
- Date: August 2015
- Lead Investors: ICONIQ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the business and enhance service offerings.
- Series E
- Amount Raised: $50M
- Date: May 2017
- Lead Investors: Sapphire Ventures, Sorenson Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support continued growth and expand into new markets.
- Series F
- Amount Raised: $40M
- Date: July 2018
- Lead Investors: DTCP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and drive further innovation.
- Post-IPO Debt
- Amount Raised: $150M
- Date: December 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial position and support long-term growth initiatives.
Total Amount Raised: $369M. Current Valuation: Not publicly disclosed.
Key Investors
- Battery Ventures
- Details: Battery Ventures is a global, technology-focused investment firm. They have been investing in cutting-edge, category-defining businesses for over 35 years.
- Investment Focus Areas: Software, IT infrastructure, industrial technology.
- Notable Investments: Nutanix, Coupa Software, Glassdoor.
- August Capital
- Details: August Capital is a venture capital firm that invests in early-stage and growth-stage technology companies. Founded in 1995, they have a long history of supporting innovative tech startups.
- Investment Focus Areas: Enterprise software, IT infrastructure, consumer internet.
- Notable Investments: Splunk, Seagate Technology, Aardvark.
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm that partners with visionary teams and venture funds to build companies of consequence. They have over two decades of experience in the industry.
- Investment Focus Areas: Enterprise technology, fintech, healthcare IT.
- Notable Investments: Square, LinkedIn, Box.
- ICONIQ Growth
- Details: ICONIQ Growth is a direct investment arm of ICONIQ Capital, focusing on growth-stage technology companies. They provide strategic support and capital to help companies scale.
- Investment Focus Areas: Enterprise software, consumer technology, fintech.
- Notable Investments: Snowflake, Uber, Zoom.
- DTCP
- Details: DTCP (Deutsche Telekom Capital Partners) is an investment management group with a focus on growth equity and digital transformation. They leverage their extensive network to support portfolio companies.
- Investment Focus Areas: Digital infrastructure, enterprise software, cybersecurity.
- Notable Investments: Pipedrive, Guardicore, Aircall.
What's Next for Fastly?
Fastly stands at the cusp of significant growth opportunities, driven by the increasing demand for edge cloud services. The global public cloud services market, expected to hit $250 billion, and the $6 billion CDN market present vast potential for expansion. Fastly's focus on enhancing product offerings and entering new markets positions it well to capitalize on these trends.
Future fundraising seems likely as Fastly continues its rapid growth and market expansion. The company has already achieved 100% annualized revenue growth and may seek additional funding to support its ambitious plans. However, challenges such as intense competition from established players like Amazon and Google, and the need to maintain high growth rates, could pose hurdles along the way.
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