Cedexis just raised a substantial investment round to continue helping companies deliver optimal end user experiences with websites, mobile apps and streaming video.
The Portland-based startup today announced a $22 million Series B round led by Ginko Ventures, with participation from Foxconn, Nokia Growth Partners (NGP), Citrix Systems Ventures, and previous investors like Advanced Technology Ventures and Madrona Ventures.
Total funding for the 7-year-old company is now $33 million.
The fresh cash will be used to support nearly 1,000 global brands like Nissan, Airbus, and Shutterstock with their video, website, and app delivery. Cedexis provides cloud-based performance monitoring software that helps customers figure out how to most effectively and efficiently load content on a user’s device.
Cedexis CEO Scott Grout told GeekWire that his company is “at the forefront of the ‘end user-optimized web application delivery’ movement.” It crowdsources data from hundreds of global enterprises and uses that information to recommend optimal delivery routes across different networks, cloud computing services, and data centers. Depending on how a client prioritizes factors like cost and speed, it can use Cedexis’ analysis to assess how well its web performance tools are working.
“No other global traffic management solution has this level of real user insight,” Grout said.
Added Citrix Systems Ventures executive Andy Cohen, in a statement: “The Cedexis approach of informing their global traffic management solution using crowd-sourced data, from the very audiences that utilize their customers’ web applications, is truly novel and differentiated in the marketplace.”
Cedexis, founded by former Akamai employees, employs 52 people and will use the fresh funds to expand its teams in Portland and Paris, France.
The company’s $22 million round is one of the highest in the past year for Oregon companies. Other recent notable venture rounds for Oregon-based startups include Janrain ($27 million), Jama Software ($20 million), Zapproved ($15 million), and PayRange ($12 million). Elemental Technologies raised $14.5 million in December 2014 before Amazon acquired the company for a $296 million this past October.
