Latest round of funding for Pixeom led by Intel Capital
Five-year-old Pixeom, a provider of edge computing software for the enterprise, has secured $15 million in capital funding from Intel Capital, National Grid Partners, and others.
The Lowdown: The young company, which has been refining its edge software platform for the past handful of years, plans to leverage the funds to scale its solution and continue building its customer base.
The Details: Pixeom’s software recreates cloud functionality on-premises, with an API that makes it easy to deploy and manage large-scale, geographically distributed workloads and infrastructure. The platform, which combines the power of the cloud with the speed of on-premises edge computing, runs a suite of recreated, edge-compatible versions of public-cloud services such as Amazon Web Services, Google Cloud, and Microsoft Azure.
Background: The company’s customers include Google, Intel, National Grid, SK Telecom, Vodafone, and others in an array of verticals, including energy, entertainment, finance, health care, manufacturing, and telecom. Previous investors include Samsung Catalyst Fund.
Intel Capital, which led the latest round of funding for Pixeom, invests in start-ups focused on emerging, innovative, and disruptive technologies such as artificial intelligence, automation, cloud computing, and 5G. The company, a division of Intel established to manage corporate venture capital, global investments, and M&A, has invested $12.4 billion in 1,554 companies worldwide.
The Buzz: “This round of funding will be used as growth capital to augment our client base in several growth areas such as energy, telecom, manufacturing, smart retail, security, and health care,” said Sam Nagar, founder and CEO of Pixeom, Santa Clara, California. “To date, we have over a million installations of our software by dozens of Fortune 500 companies. We’re excited to enter the next phase of our company.”
“In today’s global economy, companies are looking for ways to be more efficient, secure, and responsive,” said Mark Lydon, managing director at Intel Capital. “With its innovative enterprise software platform, Pixeom can help companies address those needs by deploying and managing large-scale, distributed infrastructure globally. The potential benefits of its software platform extend into multiple areas of technology, and Intel Capital is pleased to support Pixeom’s development.”
Added Lisa Lambert, founder, president, and chief technology and innovation officer at National Grid Partners: “Pixeom is bringing applications and computation to the edge. [Its] solution uniquely allows enterprises to balance workloads and optimize operations. We’re thrilled to add Pixeom to our group of portfolio companies.”