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Edge virtualization startup Zededa today announced it has raised $12.5 million in an oversubscribed extension to its series A round. The company says the funding will be used to bolster its customer acquisition efforts as it continues to expand the size of its workforce.
Global internet of things (IoT) revenue hit an estimated $1.7 trillion in 2019, when the number of edge devices connected to the internet exceeded 23 billion, according to CB Insights. But despite the industry’s growth, not all organizations think they’re ready for it. In a recent Kaspersky Lab survey, 54% said the risks associated with connectivity and integration of IoT ecosystems remained a significant blocker.
Zededa was cofounded in 2016 by Erik Nordmark, Roman Shaposhnik, Said Ouissal, and...