Portland, Oregon-based Cedexis has raised $6 million in Series A funding from Seattle-based Madrona Venture Group and Advanced Technology Ventures, based in Palo Alto. The two year old company sells cloud performance monitoring and optimization services to enterprise customers.
PRESS RELEASE:
August 11th, 2011 -- Cedexis, the leader in community-based cloud performance monitoring and optimization, has secured an additional $6 million in funding to fuel US market expansion as well as deepen European and Asia Pacific customer engagements. Cedexis helps enterprise customers accelerate the performance and availability of their web and mobile applications, leveraging innovations such as real-user monitoring and Internet “pathfinder” routing.
Seattle-based Madrona Venture Group, an early-stage venture capital firm, with previous successes such as Amazon.com and Isilon Systems, and Palo Alto-based Advanced Technology Ventures (ATV), with $1.8 billion under management and portfolio companies including Nominum and Packet Design, both invested in the round.
“Data transparency and performance measurement are crucial to an organization’s ability to manage resources, costs, and the customer experience,” said Steve Baloff, ATV General Partner. “Cedexis has the best solution for delivering real-time, user-driven performance monitoring and traffic management for global web and cloud deployments. The founders at Cedexis have done a tremendous job in building a market leading solution with an enviable list of global customers.”
“The Cedexis team has built a foundational product architecture that enables many important applications — from global traffic management and content routing to cloudbursting, CDN federation, multi-vendor cloud-storage, and application acceleration,” said Len Jordan, a Venture Partner at Madrona Venture Group. “We are impressed with the company’s revenue growth over the last 18 months and are pleased to invest in the company as it extends customer partnerships in the United States.”
Company Background
Cedexis was founded in 2009 following initial interest from brand names in the media sector and government. Since then, more than 150 customers — including many of the worlds’ most recognized brands in retail, luxury goods and media — have selected Cedexis Radar and Openmix services.
Cedexis co-founder Marty Kagan has been leading the development of products and services in the web caching, content delivery, and application acceleration space since 1996. Prior to co-founding Cedexis, Marty was Vice President of Engineering at Jive Software and Akamai Technologies, Director of Technology for Akamai International, and part of the original Cache Engine skunk-works team at Cisco Systems. He has co-authored 9 patents.
Cedexis co-founder Julien Coulon started in the Internet world in 1992 with France Telecom’s Hosting Division. In 2000 in France, he helped set up Langages Virtuels, a web conferencing start-up later bought by Genesys Conferencing. Julien joined Akamai International in 2002 to launch their E-commerce, Digital Media & Telecom activities in France, and remained Industry Director with Akamai until 2009, before co-founding Cedexis France.
About ATV
Advanced Technology Ventures (ATV) is a bi-coastal venture capital firm with more than $1.8 billion in capital under management. ATV partners with entrepreneurial teams to build great companies that lead technology markets in IT, healthcare and energy. Visit us on the web at www.atvcapital.com, or on Twitter at ATVcapital.
About Madrona Venture Group
Madrona has been investing in early-stage technology companies in the Pacific Northwest since 1995 and has been privileged to play a role in some of the region’s most successful technology ventures. The firm invests predominately in seed and Series A rounds across the information technology spectrum including consumer Internet, commercial software and services, digital media and advertising, networking and infrastructure, and wireless.
Madrona currently manages over $650 million and was an early investor in companies such as Amazon.com, Isilon Systems, Farecast, iConclude, World Wide Packets and ShareBuilder. To learn more, visit www.madrona.com.
About Cedexis
Founded in 2009, Cedexis is the leader in community-based cloud performance monitoring and optimization. Our unique family of on-demand tools provide unparalleled visibility and control over global web and cloud deployments — maximizing customer experiences around the world while managing costs. Learn more at cedexis.com. |
