Series B investment led by JVP, Magma, and Singtel Innov8 to accelerate adoption of the Israeli company’s advanced cloud-based networking platform.
Teridion — a cloud-based networking company that delivers a fast Internet experience – announced today that it closed a $15 million Series B round of financing led by Jerusalem Venture Partners (JVP), Magma and Singtel Innov8, and is launching its advanced Global Cloud Network to provide performance improvement of up to 20 times.
The company, which employs 28 people in Petah Tikva (Israel) and San Francisco, was established in 2013 and joined JVP in 2014. JVP and Magma kicked in the initial investment of $5 million, bringing total funding to $20 million today.
The company’s solution is currently being used by more than 15 companies with bandwidth-demanding applications and services, such as hosting and file sharing, rich media and advertising.
“The Internet is an incredibly powerful tool, but until now, we have struggled to take full advantage of its capabilities. It’s still common for us to fall victim to slow response times and volatile connections,” said Elad Rave, founder and CEO of Teridion. “We are breaking down these boundaries and providing users with a seamless Internet experience – no matter their location, device or application. It’s our goal to bring customer loyalty to the forefront, and the funding and general availability of our product are major steps in this direction.”
Itay Sagie, co-founder of Lexifone, is one of Teridion’s customers. “We offer a breakthrough cloud-based translation service that relies on an exceptional user experience,” Sagie said. “The Teridion network permits us to extend our services globally without excessive infrastructure build out and cost. We can now develop our applications knowing that the network just works.”
With the general availability of its flagship product and funding, Teridion will accelerate its go-to-market strategy and grow its international team.