AlefEdge Secures Series B Financing
Software Defined Mobile Edge Innovator Closes in on $40M Investment
NEW YORK–(BUSINESS WIRE)–AlefEdge, the Edge Internet leader, today confirmed it had completed a Series B preferred round of financing in April. The company’s investors include established equity funds and family offices. With the completion of this round, the company—which is helping application developers and organizations take advantage of the Software Defined Mobile Edge (SD-ME)—has now raised close to $40M in capital.
“AlefEdge invented the concept of control and application layer separation that has formed today’s understanding of SD-ME. Over the past few years, AlefEdge has hardened a production-ready SD-ME capability that will enable application developers to take full advantage of the power of the Edge Internet,” said AlefEdge Executive Chairman Mike Mulica. “In the third quarter, AlefEdge will be launching easy-to-use SD-ME APIs to help application developers and the network community bring the Edge to life. This latest round of financing will accelerate the introduction of the SD-ME and help unleash a wave of innovation across the application developer and enterprise communities around the world.”
From the outset, AlefEdge has focused on a programmable Edge with dedicated Edge algorithms, intelligent Edge architectures, Edge services, Edge APIs and most importantly value extraction. The company has pioneered the innovation in the SD-ME category. AlefEdge has already been deployed across multiple connectivity technologies, including 3G, 4G LTE/CBRS, and Wi-Fi, as we get ready for 5G. Any enterprise can now take advantage of these automated tools available through APIs and start executing on their Edge strategy in minutes.
Iain Gillott, president and founder of iGR, a market research consultancy focused on the wireless industry, said: “The Edge is a critical and complex piece for delivering on the promises of a 5G world – in fact, 5G is not possible without an Edge computing architecture. AlefEdge understands this and the ease-of-use approach of its technology helps developers and end-users unlock the network’s potential.”
Last month, AlefEdge announced that its Alef AdVision solution would be launching later this year on the Microsoft Azure Edge Zone platform. Alef AdVision API’s bring real-time, targeted advertising to life with embedded intelligence enabling new revenue opportunities for connected screen owners and enhanced outcomes for participating brands.
To learn more, visit: www.alefedge.com.
About AlefEdge
AlefEdge is a leader in the Edge Internet, delivering the power of the 5G based Edge Internet to application developers through our easy-to-use technologies. At AlefEdge, rich media applications, clouds and networks work in tandem to achieve an unprecedented level of performance. We enable 5G applications through open API’s at the Edge that make service adoption and distribution friction free. AlefEdge works with partners to build the world’s first Edge applications that leverage and realize Virtual and Augmented Reality, Artificial Intelligence, Industry 4.0, Smart Cities, IoT and Gaming. The AlefEdge Open5G Platform brings 5G applications to life, unleashing a massive Edge Internet economy.
AlefEdge is headquartered in New York City, with offices in India and Brazil. Visit https://www.alefedge.com/ for more information on how we can help.
Contacts
Casey Bush/Kyle Loomis
Global Results Communications
+1-949-608-0276
alef@globalresultspr.com