Macrometa Raises $7M Seed Round to Make its Global Data Network and Edge Computing Service Ubiquitous
PALO ALTO, Calif., Oct. 1, 2020 /PRNewswire/ -- Macrometa Corporation, the first-of-its-kind edge computing company enabling web and cloud native developers to build and run applications across a network of global clouds and data centers, announced today the close of a $7M Seed financing. The new round was led by DNX Ventures, with the participation from existing investors Benhamou Global Ventures (BGV), Partech Partners, Fusion Fund, Sway Ventures, Velar Capital and Shasta Ventures.
The new funds will be used to accelerate the product rollout and sales of Macrometa's award winning Global Data Network (GDN), a cloud service that enables web and cloud developers to build and run high performance, multi-region, multi cloud, globally distributed, stateful data powered applications and web services. The GDN cuts time to market for developers with its serverless API while reducing cloud costs by 70% or more by offloading expensive data operations from the cloud to a network of worldwide edge sites.
"Macrometa's data platform and global network unlocks the full potential of edge computing," said Chetan Venkatesh, co-founder and CEO of Macrometa. "Our customers use the Global Data Network to bring their cloud apps physically closer to their users worldwide, scaling performance by 50x-100x and reducing their cloud costs by 70% or more."
Macrometa's data platform and global network unlock the full potential of edge computing
Macrometa's Global Data Network (GDN) is a combination of a globally distributed noSQL database, a low latency stream data processing engine, and functions as a service runtime, all integrated together as a simple, elastic, serverless cloud. The GDN enables developers to build rich data driven cloud applications and APIs that run instantly across 175 points of presence or PoPs spread around the world. The mean roundtrip time (RTT) for a user on their phone or laptop to Macrometa's edge cloud and back is less than 50 milliseconds globally - a staggering 50X-100X faster han what current cloud platforms like DynamoDB, MongoDB or Firebase can deliver.
"Macrometa's approach is compelling and unique," said Q Motiwala, Managing Partner at DNX Ventures. "As we look at the next 5 to 10 years of Cloud evolution - it's clear to us that enterprise developers need a platform like Macrometa to go beyond the constraints, scaling limitations and high cost economics that current cloud architectures impose. What Macrometa is doing for edge computing, is what Amazon Web Services (AWS) did for the cloud a decade ago."
Macrometa turns the CDN into a cloud for enterprise application developers
Today's cloud applications are built to run in a single cloud data center or region and serve users and devices that may be accessing those services across intercontinental distances over the Internet. Telecom operators are rolling out high speed 5G connectivity, while Content Delivery Network (CDN) companies like Akamai and CloudFlare are enabling developers to run application code on their CDN Points of Presence (PoPs). However, to run real world enterprise applications such as those used in e-commerce, fintech, cybersecurity and IoT companies, require the ability to utilize rich data storage, updates, replication, processing, query and real-time analytics across hundreds of global locations on CDNs. Macrometa solves this multi billion dollar problem with its unique, globally distributed architecture and serverless experience enabling CDNs and telecom operators to become full fledged Platform-as-a-Service (PaaS) providers for enterprise developers.
As Macrometa continues to pioneer edge computing and expand its reach with its seed round, the company has also expanded its board of directors to include Q Motiwala, Managing Partner of lead investor DNX Ventures, former Auth0 and xnor.ai CEO Jon Gelsey, cybersecurity expert and web scale technologist, Rob Fry. They join Yashwanth Hemaraj of BGV and Chetan Venkatesh the CEO and co-founder of Macrometa on the board.
"I love products that make its users heroes. Marcrometa's Global Data Network does just that. Who doesn't like making their apps lightning quick while cutting their AWS costs by 70%+ with a few hours of effort? It's transformative and It makes me proud to be a new board member here" shared former CEO of Auth0 and xnor.ai (acquired by Apple) Jon Gelsey.
"We will look back at 2020 as the beginning of a transformative change in what it means to build and efficiently leverage public cloud computing. I am excited to join Macrometa as a board member and look forward to contributing to making edge computing ubiquitous." says noted web scale cloud computing expert Rob Fry. Rob was one of the main architects of Netflix, the CTO of JASK (acquired by SumoLogic) and is now CTO of Armorblox.
Macrometa is a Global Data Network and Edge Computing Service. Macrometa helps cloud and web developers add instant performance to their stateful data driven web, mobile, IoT apps and APIs while cutting cloud database and server costs by 70% or more. Macrometa's serverless cloud enables cloud developers to tier, cache, process and serve data and APIs from the edge with its globally distributed cloud database, stream data processing, pub/sub and function serving from a network of more than 100 edge locations around the world.
Macrometa is headquartered in Palo Alto, CA with operations in Bulgaria and India.
To learn more please visit www.macrometa.co
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SOURCE DNX Ventures; Macrometa
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