Teridion joins Kickstart Ventures investment portfolio
Teridion, a cloud-based networking company, becomes the 25th startup in the investment portfolio of Kickstart Ventures, Inc., a wholly-owned venture capital subsidiary of Globe Telecom.
Kickstart joins SingTel Innov8, Jerusalem Venture Partners, and Magma Ventures for Teridion’s Series B fundraising amounting to US$20 million which allows Teridion to accelerate its go-to-market strategy as well as grow its team both in the US and abroad.
The internet is showing its age and Teridion offers a fix for content companies, app publishers, and other businesses that serve content and apps at scale. It has deployed a cloud-based optimization service that identifies the best paths for content and apps, and selects these paths so that dynamic content —- both uploads and downloads — are delivered up to 20x faster.
Being a Business-to-Business (B2B) company, Teridion requires no hardware nor software installation, thereby, making deployment much quicker and cost-effective than a traditional Content Delivery Network (CDN). This means a typical cloud customer can be connected to the network in under an hour.
“We have confidence in Teridion. We believe that it is the answer to the fast-growing appetite for high performance and reliable internet experience by today’s applications and services for content delivery — but without sacrificing quality or reliability. With their network optimization and content acceleration solutions, Teridion is well on its way to becoming an important partner for organizations that need to build highly-dynamic applications without compromise,” said Minette Navarrete, President of Kickstart.
Kickstart and Globe are both committed to help build a digital nation towards a #wonderfulPH through supporting and maximizing the use of information and communications technology.
“The Internet is an incredibly powerful tool but until now, we have struggled to take full advantage of its capabilities. It is still common for us to fall victim to slow response times and volatile connections.” said Elad Rave, CEO and co-founder of Teridion.
He added: “We are thankful for the trust given by Jerusalem Venture Partners (JVP) and Magma Ventures, our earliest institutional investors; and our most recent investors, Singtel Innov8 and Kickstart. We are breaking down boundaries and providing users with a seamless Internet experience – no matter their location, device or application so that they can say goodbye to slow response time and volatile connections. The funding and general availability of our product are major steps in this direction. We are extending our sales coverage and channels to Asia Pacific countries.”
Teridion was only formed in 2013 but Rave has been working on the concept for over six years based on his past cloud and video experience. Their global headquarters is located in San Francisco while their engineering team is based outside of Tel Aviv, Israel.
The company’s solution is currently being used by more than 15 companies in the US and Israel which require some of the most bandwidth-demanding applications and services such as hosting and file sharing, rich media, and advertising. Future markets include enterprise and service providers.
Early customer deployments of Teridion have shown up to 20x improvement in Internet performance, offering an opportunity for businesses to achieve new levels of customer engagement and retention, ultimately driving up revenues.
Kris Lahiri, VP of operations and chief security officer at Egnyte, one of Teridion’s customers, noted how Teridion was able to help his company.
“Enterprise businesses rely on the flexibility of the Egnyte platform to securely share files, collaborate and maintain control over important data, no matter the storage provider, cloud, application or device. We want our customers to be freed from worrying about Internet connectivity or their geographical location. Fast response times and always-on reliability are vital to IT professionals and business users alike, and Teridion helps us consistently deliver high-performance across our solutions and services,” he said.
Lahiri’s view was also supported by Edward Chiu, DigitalOcean’s director of customer success. “Our company’s core mission is to simplify cloud infrastructure for the developer community. We’re excited to see Teridion focus on the same goal by simplifying content delivery across the core of the Internet, offering a service that doesn’t rely on caching,” he said.
