附近上门

Palo Alto, California-based edge compute company closed a $20 million Series A less than eight months after announcing its $7 million seed funding.

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The round was led by , with participation from existing investors

, (BGV), , , and . Founded in 2017, the company has raised $29 million to date.

Macrometa allows developers to build and run data-heavy cloud applications using real-time information and analytics at the edge 鈥� speeding up the process by bringing it closer. Co-founder and CEO compared what Macrometa does for developers in edge computing to what did for the retail space.

鈥淎mazon Prime created local caches of local goods,鈥� he said. 鈥淲e are doing the same thing for data and applications.鈥�

In edge compute terms, that means getting developers the data they need faster and in real-time.

鈥淲e are big data meets fast data,鈥� he added.

Fast growth

The 62-person company began last year with a few hundreds-of-thousands of dollars in revenue, but by the end of the year saw several millions of dollars in sales, Venkatesh said. It was then he started to think about raising a fresh Series A to help scale up the company.

, general partner of Pelion, already had expressed interest in leading such a series and jumped at the chance to invest in another infrastructure and cloud-related company 鈥� having prior investments in companies like , and .

鈥淭o me, this smelled like and sounded like the thing that helped build our firm,鈥� he said.

Venkatesh said the company will use the money to continue to build its solution and go-to-market strategy. The company expects to grow revenue 3x to 4x this year, and add to its customer base that already includes about a half dozen large enterprises, he said.

Using other forecasts as guidelines, Macrometa estimates the market for data services in the cloud to be about $50 billion. However, many solutions, such as those offered by , , and , are cloud-centric, not edge-native, Venkatesh said.

That difference could help the company dominate an edge compute market just coming into focus, he added.

Cooper said there are aspects of Macrometa that remind him of Cloudflare early on.

鈥淲e didn鈥檛 know what Cloudflare could truly be back then,鈥� he said 鈥淏ut these are companies that change the way we interact with data.鈥�

Illustration: .