mimik Technology nets $14.3M extended Series A as Pier 88 joins investors
mimik Technology has announced a $14.3 million Series A funding round led by San Francisco-based alternative investment management firm Pier 88 Investment Partners. Other participants include Cathie Wood, Founder, CIO and CEO of ARK Invest and member of the mimik Board of Directors, along with existing investors Primera Capital and NLabs.
In its announcement, mimik notes plans to use the funds to expand its global go-to-market operations including sales, solutions delivery, developer outreach, technical training, and partnership development.
mimik’s hybrid edgeCloud platform transforms cloud applications from a fixed client-server architecture—where server functionality is limited to servers in data centers and gateways—to a fully distributed architecture, enabling billions of smart client devices to act as servers and delivering nearly endless scalability. The mimik platform enables heterogeneous applications, processes, and devices to autonomously communicate in clusters on the edge regardless of their operating system or network. Because data is processed at the edge, mimik’s platform requires significantly less bandwidth and power, reduces cloud hosting costs, is more resilient than traditional client-server architecture, and offers much higher levels of data privacy and security.
“We have spent nearly a decade in R&D, building a platform to address the six major concerns of most developers: speed, cost, security, data privacy, interoperability, and scale,” says mimik Founder and CEO Fay Arjomandi. “The mimik platform offers a strong foundation to build sustainable edge cloud services to help accelerate digital transformation and power the hyper-connected digital economy.”
“Having invested in next-generation technologies like mobility, cloud computing, and cyber security for nearly two decades, our team is excited about the compelling growth opportunities we see in edge computing,” adds Frank Timons, Founder and CEO of Pier 88 Investment Partners. “mimik’s technology lead and seasoned executive team position the company to capitalize on the next wave of growth for the computing industry as its nuanced device microservice architecture enhances security and privacy while reducing costs of traditional cloud computing solutions.”
Article Topics
ARK Invest | edge cloud | funding | hybrid cloud | Mimik Technology | Pier 88
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