Content delivery network EdgeCast has raised a $54 million fourth round of financing including an undisclosed mix of debt as it seeks to expand in the hyper-competitive world of shipping digital content around the globe. The round was led by Performance Equity Management (PEM), with follow-on participation from the company’s existing investors Menlo Ventures and Steamboat Ventures.
The money helps EdgeCast continue adding new products to its original business of moving bits around the web. The company is adding web acceleration products as well as new routing and security services. As the CDN business has become commoditized, providers such as Akamai have moved from shipping bits to buying companies that add more valuable services, such as advertising, optimization and security. EdgeCast has to keep up.
EdgeCast was founded in 2006 and has raised more than $20 million in equity funding since that time. The company says it’s in its fourth…
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