The chief executive officer of Indianapolis-based Scale Computing says the company’s recent round of funding will allow it to continue the growth it saw in 2020 despite the pandemic. The IT infrastructure software company raised $30 million from Elevate Ventures in Indy and other existing investors, and Jeff Ready says the funding will help the company take advantage of the rapidly-growing market of edge computing.
In an interview with Inside INdiana Business, Ready said the ability to raise such a large amount is a testament to the market and the company’s position in it.
“It’s really something, I think, to be able to raise this kind of funding under the circumstances that we had in 2020. There were a lot of investors that I saw, at least temporarily, put the brakes on in the spring and throughout the summer,” said Ready. “And so, our ability to be able to raise this round of funding coming through that pandemic, I think, is a testament to, again, the company and what we’re doing and the growth that we’ve experienced.”
The funding round comes about two years after Scale Computing raised $35 million led by global tech giant Lenovo. Ready says the pandemic caused the company to endure several changes to further its growth.
“We traditionally relied heavily upon in-person events, trade shows, things like this as our lead generation,” said Ready. “As somebody who’s in IT infrastructure, our list of competitors are generally all household names…and so being able to get out in front of people appeared, at least, to be a requirement.”
Ready says Scale Computing had created enough brand reputation in the market to allow it to find new customers without in-person events. He says making changes because of the pandemic worked.
“We did not see a slow down in growth in 2020. In fact, we saw an acceleration in many areas in spite of really wildly different forms of go-to-market last year than in previous years.”
Scale Computing’s edge computing platform allows customers to run applications and process data locally without the use of centralized data centers, according to its website. The company was recently named No. 1 for edge computing by CRN.
“This round of funding really is to continue to maintain that leadership position as this market rapidly expands. There will be lots of other new entrants into the market, I have no doubt, because it is growing so rapidly but we do have a lead and we want to maintain that lead,” said Ready.
Ready says he expects to continue to have the majority of Scale Computing’s workforce in Indianapolis.
Ready says the ability to raise such a large amount is a testament to the market and the company’s position in it.