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Synadia secures $25 million funding for AI-powered multi-cloud and edge computing demands

Synadia secures $25 million funding for AI-powered multi-cloud and edge computing demands

Open source cloud and edge-native messaging system Synadia Communications has closed a $25 million Series B financing round to accelerate the growth of, the connective platform used by companies to extend their digital services to the edge.

Led by Forgepoint Capital, the investment round includes participation from existing investors and new investors Singtel Innov8, LDVP and 5G Open Innovation Lab. Forgepoint managing director Ernie Bio will join Synadia’s board of directors, according to the company.

“Companies are increasingly shifting beyond the cloud to the edge to better anticipate and address customer and operational needs of speed and data management. As they do this, legacy technologies are not built for distributed cloud architecture and optimizing user experience,” says Bio.

“Synadia has experienced rapid growth and widespread customer adoption due to the flexibility and reliability of its adaptive edge platform and its ‘secure by design’ architecture which meets the growing industry demand to improve performance.”

The round brings Synadia’s total funding to $51 million raised to date, to which the company notes it further validates its holistic approach to solving the increasingly complex and pervasive challenges of distributed computing, which is driving rapid growth in edge computing investments.

Founded in 2017 by the company’s CEO Derek Collison, the creator of NATS, Synadia entered the market to address the challenges of edge and multi-cloud computing. It has established itself as a leader in developing and supporting highly available, low latency applications and microservices for multi-cloud and edge environments.

“Building on the rapid success of the NATS open-source project, our Synadia Cloud and Synadia Platform offerings continue to drive exceptional value,” adds Collison.

“With the support of Forgepoint Capital and our other investors, Synadia is well-positioned to provide real-time and secure access to services and data in any geography, with any cloud provider, and at any edge location. This funding further validates our product-market fit, accelerates our momentum, and underscores the significant opportunity in front of us to further power the proliferation of modern distributed systems.”

The recent worldwide edge spending guide from International Data Corporation (IDC) predicts that the worldwide edge computing market will reach $250.6 billion in 2024 with a compound annual growth rate (CAGR) of 12.5% from 2019 to 2024.

Read more:

Accenture bets on Synadia, open source for edge to cloud messaging tech

Google acquires MobiledgeX, aims to create open-source edge cloud: report

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