Macrometa Secures $20M Series A Funding

Macrometa Secures $20 Million in Series A Funding

Macrometa, a provider of edge computing cloud solutions and a global data network designed for application developers, has announced the successful completion of a $20 million Series A funding round.

Investment Details

Pelion Venture Partners spearheaded the investment, with further participation from existing investors. These include DNX Ventures, Benhamou Global Ventures (BGV), Partech Partners, Fusion Fund, Sway Ventures, and Shasta Ventures.

Future Plans

The newly acquired capital will be strategically allocated towards several key initiatives. These encompass further feature development, expansion of the enterprise customer base, and integration with prominent content delivery networks (CDNs), cloud platforms, and telecommunications providers.

Macrometa intends to bolster its engineering and product development teams across its existing centers in the United States, Eastern Europe, and India. Additionally, the company plans to establish new development hubs in Ukraine, Portugal, Greece, Mexico, and Argentina.

Funding History

This Series A round follows a $7 million seed funding round secured just eight months prior. To date, Macrometa has raised a total of $29 million since its founding in 2017.

Board Expansion

Concurrent with the funding, Macrometa has broadened its board of directors. Chris Cooper, a general partner at Pelion, has been appointed as a director. Zain Rizavi, a senior associate at Pelion, and Eva Nahari, a principal at DNX Ventures, will serve as board observers.

Macrometa’s Technology and Capabilities

Global Data Network

Macrometa’s core offering is a global data network that integrates a distributed noSQL database with a high-performance, low-latency stream data processing engine. This empowers web and cloud developers to build and scale real-time, data-intensive cloud applications effectively.

The network’s architecture allows developers to deploy applications across 175 strategically positioned points of presence (PoPs) globally. Applications are routed to the PoP closest to the end-user, minimizing latency.

Performance Metrics

Macrometa asserts that the mean roundtrip time (RTT) for users accessing its edge cloud is consistently under 50 milliseconds worldwide. This represents a performance improvement of 50x to 100x compared to conventional cloud platforms such as DynamoDB, MongoDB, or Firebase.

Customer Acquisition and Platform Access

According to co-founder and CEO Chetan Venkatesh, the company has experienced accelerated customer acquisition, particularly among large enterprises and web-scale organizations.

Macrometa has also launched a self-service platform, granting developers free access to its serverless database, pub/sub functionality, event processing capabilities, and stateful compute runtime.

Strategic Partnerships

Macrometa has established a partnership with Cloudflare, becoming one of only two distributed data companies collaborating with them on applications built on Workers, Cloudflare’s serverless platform.

Venkatesh highlights that this collaboration enables the creation of data-driven APIs and web services with performance and latency levels 50x to 100x superior to those achievable in the public cloud.

Impact of the Pandemic and Future Outlook

Accelerated Growth

The COVID-19 pandemic significantly accelerated Macrometa’s growth trajectory. Enterprises and web-scale customers required solutions to manage unpredictable data traffic patterns resulting from the shift to remote work.

Venkatesh also noted that the pandemic catalyzed lasting changes in cloud adoption and consumption patterns, impacting how individuals shop, consume media, and engage with entertainment.

Use Cases

E-commerce providers are leveraging Macrometa’s infrastructure alongside their existing CDN and cloud backends to deliver more personalized shopping experiences. This includes real-time recommendations, regionalized search functionality, and localized data geo-fencing for compliance with data privacy regulations.

SaaS clients utilize Macrometa’s global data network as a global data cache to handle usage surges and maintain regional copies of data and API results. Furthermore, several telecom operators have adopted Macrometa’s data stream ingestion and complex event processing platform as a replacement for legacy systems like Splunk, Tibco, and Apache Kafka.

Industry Perspective

Chris Cooper, general partner at Pelion Venture Partners, stated, “We believe the next phase of computing will be focused on the edge, ultimately bringing cloud-based workloads closer to the end user. Macrometa is becoming the de facto edge provider to run data-heavy and compute-intensive workloads for developers and enterprises alike, globally.”