Managing data at the edge is increasingly mission-critical for enterprises that need to optimize real-time decision-making, maximize operational efficiency, and drive new business outcomes.
Traditionally, the deployment and remote management of Industrial Internet of Things (IIoT) at the edge has been difficult and expensive. One of the most significant hurdles faced by enterprise users today is the cost and lead time needed to update what are often proprietary legacy solutions. In the current environment, the majority of IIoT solution providers offer highly customized, siloed solutions for customers in specific verticals. As a result, these verticalized solutions tend to be fragmented and often are expensive to update and maintain.
We invested in ZEDEDA because the company has proven it can remain a horizontal play across multiple industrial verticals. ZEDEDA was founded in 2016 as a vertical solution provider. But in 2019, the company made the decision to open source its flagship product, EVE-OS.
By open sourcing EVE-OS, the company gave their customers the ability to complete integrations themselves, across the multi-vendor edge. This enables developers to use the ZEDEDA platform to connect to any distributed edge computing hardware, application, and cloud or on-premises system.
The open source approach has allowed ZEDEDA to deliver efficiencies as a scalable product play across multiple industrial verticals. The company’s solutions provide customers with full-stack remote deployment, management, and observability capabilities, comparable to Red Hat for the IIoT market.
Now, ZEDEDA’s growth trajectory has reached a tipping point. That’s why we invested in the company, joining a group of VCs that includes Lux Capital, Energize Ventures, Rockwell Automation, EDF, and Juniper Networks. To date, the company has raised more than $30 million in venture funding.
Another reason for our confidence in ZEDEDA is its founding team, which has deep technical expertise in distributed edge computing. In particular, Said Ouissal, Founder and CEO, has extensive experience in IP networking, telecommunications, cloud, and mobile broadband, holding prior roles at Juniper and Ericsson.
Looking ahead, we are confident that the ZEDEDA team is in a strong position to deliver scalable infrastructure solutions to a rapidly growing pipeline of IIoT customers.