Yottaa Announces $16 Million in Funding To Accelerate Mobile Experience
Boston, MA (PRWEB) July 10, 2013 -- Yottaa, the leader in mobile and web experience acceleration, today announced it has closed a $16 million financing round led by new investor Intel Capital. Together with investments made by the existing investors General Catalyst Partners and Stata Venture Partners, the company has raised $30M in funding to accelerate the online experiences for businesses across the wired and wireless web.
Today businesses strive to fulfill consumers’ multi-screen needs. Many web applications have grown to over 50 percent of traffic coming from mobile. However, online experience is hindered by the growing diversity of mobile devices, unreliable last mile networks, and wide range of browsers. Content delivery networks (CDN) are a valuable first step for improving performance but they are not enough.
Yottaa’s performance platform enables a great online experience for any business, any device, any platform, anywhere by extending performance an additional 30-80% for both existing CDN powered sites and also non-CDN powered sites. Running on a global network of over 30 data center locations, this carrier-class performance automation service is enabled with just a few hours of configuration and test and is trusted by mission-critical websites across eCommerce, financial services, media, software-as-a-service, consumer goods, business services, electronics, and enterprise software.
“Yottaa sits at the convergence of two of the biggest trends in technology today: mobile and cloud,” said Arvind Sodhani, president of Intel Capital, Intel executive vice president. “Intel Capital looks forward to supporting Yottaa with enterprise customer access and technology collaboration to accelerate adoption of Yottaa’s market-leading cloud and mobile optimization solutions.”
In the last 18 months, Yottaa has achieved several key milestones:
• Patented technology: Yottaa invented a set of new technologies required to address the unique needs for the modern web across the wired and wireless web. Two patents have been granted with many more pending;
• Enterprise customer adoption: Over 100 leading enterprises selected Yottaa to achieve a great online experience. Over $10B e-commerce revenue are accelerated and protected by Yottaa today. Yottaa counts among its customers G20 government sites, Fortune 500 companies, and the fastest growing startups approaching IPO, including popular online brands such as PC Mall, Bayer, H&R Block, Fossil, HubSpot and Logitech.
• Industry leading products: Yottaa’s global Engineering team delivered to customers a federated CDN infrastructure, a mobile optimization service, a cloud-based firewall service and a site monitoring service.
“The growth of mobile content consumption, combined with the richness and complexity of modern web apps, has created a host of web performance challenges,” said Dan Rayburn, principal analyst, Frost & Sullivan. “Yottaa is in a growing market that's demanding solutions to speed up the mobile web through intelligent content transformation.”
“Over the past decade the landscape of the web has changed,” said Coach Wei, Yottaa’s CEO. “First of all, it’s a challenge for businesses to assess their online experiences across this wide diversity of form factors and access networks, and an even bigger challenge for them to address performance problems. Second, the bottleneck has shifted from mid-mile delivery to the last mile network and front end processing. At Yottaa, we have built an enterprise-grade web performance automation service that provides end-to-end infrastructure for modern sites and applications.”
Yottaa will use the capital to accelerate investment in its hybrid cloud network, build its sales and marketing operations, and grow its engineering team in its Boston and Beijing headquarters.
About Yottaa
Yottaa, the leader in mobile and web performance, provides end to end acceleration, protection and visibility for modern web applications across the wired and wireless web, delivering speed, scale, security and actionable insight. Our customers enjoy site-wide performance gains, better visitor experience and higher conversions; protection from service outages, malicious bots and hackers; and breakthrough productivity in web development and operations.
About Intel Capital
Intel Capital, Intel's global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, health, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$10.8 billion in over 1,276 companies in 54 countries. In that timeframe, 201 portfolio companies have gone public on various exchanges around the world and 317 were acquired or participated in a merger. In 2012, Intel Capital invested US$352 million in 150 investments with approximately 57 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit http://www.intelcapital.com or follow @Intelcapital.
Bryn Adler, Yotta Inc., http://www.yottaa.com, +1 (877) 767-0154, [email protected]
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