mimik Technology Closes $14.3 Million Extended Series A Funding Round Led by Pier 88
mimik’s hybrid edgeCloud platform is poised to revolutionize the delivery of microservices for applications in industries such as healthcare, automotive, manufacturing, logistics, retail, and banking
mimik Technology, Inc., a pioneer in hybrid edge cloud technology and business solutions, today announced a $14.3 million Series A funding round led by Pier 88 Investment Partners, a San Francisco-based alternative investment management firm. 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. mimik plans to use the funds to expand its global go-to-market operations including sales, solutions delivery, developer outreach, technical training, and partnership development.
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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,” said 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,” says 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.”
“Primera Capital has funded some of the world’s most transformative technology companies over the past two decades,” said Ori Sasson, General Partner, Primera Capital. “We invest in extraordinary products, opportune markets, and daring entrepreneurs with unwavering visions, and with the disruptive potential of their edge platform and strong leadership team, mimik aligns with these key criteria.”
“We’re thrilled to be working with funding partners such as Pier88, NLabs, Primera Capital and others. They understand the essential benefits of the mimik hybrid edgeCloud platform and the massive market opportunity ahead,” said Siavash Alamouti, Executive Chairman of mimik. “We’re in the midst of a massive transformation across all industries. The burgeoning hyper-connected economy will be orders of magnitude larger than mobile internet, and mimik’s platform will help accelerate this technology revolution and in a much more sustainable way.”