HomeUSACloudflare Launches $1.25 Billion Funding Program In Partnership with VCs

Cloudflare Launches $1.25 Billion Funding Program In Partnership with VCs

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Cloudflare, Inc. (NYSE: NET), announced a new funding program for startups in partnership with venture capital investors.

The Workers Launchpad Funding Program will provide up to $1.25 billion of financing to startups building applications on Cloudflare Workers, a serverless computing platform that allows developers to build or augment apps without configuring or maintaining infrastructure.

Cloudflare is not providing any funding or making any funding decisions. All funding decisions will be made by the venture capital firms that participate in the program. The company is partnering with 26 venture capital firms including: Altimeter Capital, Altos Ventures, Amplify Partners, Bain Capital Ventures, Bessemer Venture Partners, boldstart ventures, Cowboy Ventures, Decibel, Emergence Capital, FirstMark, Greylock Partners, IVP, Lightspeed, Meritech, New Enterprise Associates (NEA), Norwest Venture Partners, Pear, Root Ventures, Scale Venture Partners, Signal Peak, Silverton Partners, StepStone Group, Threshold Ventures, U.S. Venture Partners, Venrock, and Vertex Ventures US to support developers using Cloudflare Workers to build their applications.

Any private company globally that is building on Cloudflare Workers is eligible to apply for the program. If selected by the participating venture capital firms, companies may receive a cash investment from these participating firms, as well as mentorship and support from Cloudflare.

Today, hundreds of thousands of developers around the world rely on Cloudflare Workers to build and deploy applications without configuring or maintaining costly infrastructure. With Cloudflare’s network spanning more than 275 cities in over 100 countries around the world, developers can deploy code close to their users, bringing the speed, performance, and scale of Cloudflare to their customers. Since 2017, more than 500,000 developers have built on Cloudflare’s developer platform and launched more than three million applications.

Startups applying for the program will be eligible for potential investment from investors, the Cloudflare Startup Enterprise Plan, which includes Cloudflare Workers, Cloudflare for Teams, Cloudflare Stream, and additional core security and performance offerings, as well as exclusive events.

FinSMEs

28/09/2022