Tuesday, June 27, 2017

Pelion Ventures Backs $100M Venture Investment Fund From Cloudflare

Salt Lake City-based venture investor Pelion Ventures is one of three, top tier venture investment firms in a new, $100M venture investment fund from Internet infrastructure and cloud caching firm Cloudflare. Cloudflare announced this morning that it has launched a new, $100M investment fund, which it will invest in startups building apps that use its global infrastructure. The new Cloudflare Developer Fund is backed by New Enterprise Associates (NEA), Venrock, and Pelion Venture Partners. Cloudflare said companies developing applications on its platform will have the opportunity to receive a cash investment, marketing support, and technical advice from its participating venture capital partners. Cloudflare operates a service which helps website operators offload and cache traffic, prevent distributed denial-of-service attacks, and otherwise better manage the Internet requests to their websites.