EdgeCast Networks, a Santa Monica, CA-based content delivery network, secured $54m in Series D financing.
The round was led by Performance Equity Management (PEM), with participation from existing investors Menlo Ventures and Steamboat Ventures.
Silicon Valley Bank provided a debt facility.
The company intends to use the funds to develop and launch new web acceleration, routing and security services, further strengthen its intellectual property portfolio, expand its global network and international sales and marketing efforts.
Led by Alex Kazerani, Chairman and CEO, EdgeCast is a content delivery network (CDN) that helps companies accelerate and deliver static and dynamic content to end users around the world.
Major customers include Yahoo!, Tumblr, Pinterest, Twitter, WordPress, Sony, Hulu and Imgur.
It is massively hiring in Santa Monica (read here).
12/04/2010: EdgeCast Networks Raises $10M