This platform empowers companies to extend their digital services to the edge, addressing the increasing demand for speed and data management in edge computing.
Synadia Communication has secured $25 million in Series B funding to fuel the expansion of NATS.io, its pivotal platform enabling companies to extend digital services to the edge. The funding round was spearheaded by Forgepoint Capital, with contributions from existing and new investors, including Singtel Innov8, LDVP, and the 5G Open Innovation Lab. Forgepoint’s managing director, Ernie Bio, will join Synadia’s board of directors as part of the investment.
Ernie Bio highlighted the growing shift of companies towards edge computing to enhance customer and operational responsiveness in terms of speed and data management. He praised the company’s rapid growth and customer adoption, attributing it to the platform’s flexibility, reliability, and secure-by-design architecture, which aligns with the industry’s demand for improved performance.
The company’s capital raised $51 million with this latest funding. The company views this as a strong endorsement of its comprehensive approach to addressing the complex challenges of distributed computing. This field is witnessing a surge in edge computing investments.
Founded in 2017 by Derek Collison, the creator of NATS, the company has quickly emerged as a leader in developing and supporting highly available, low-latency applications and microservices for multi-cloud and edge environments. He expressed his enthusiasm about the success of this open-source project and the value delivered by the company’s cloud and platform offerings. He emphasised that with the backing of Forgepoint Capital and other investors, the company is well-equipped to provide real-time and secure access to services and data across various geographies, cloud providers, and edge locations. This funding round validates the company’s product-market fit, propels its momentum, and highlights the potential to advance modern distributed systems further.
According to the recent edge spending guide, the global edge computing market is projected to reach $250.6 billion by 2024, with a compound annual growth rate (CAGR) of 12.5% from 2019 to 2024.
