Cloudflare announces $1.25 bn fund to help startups, partners 26 VC firms
By Team Startupcity | Wednesday, 28 September 2022, 08:54 IST
Digital infrastructure services provider Cloudflare on Tuesday announced a $1.25 billion 'Workers Launchpad Funding' programme to help startups grow their businesses.
The company partnered 26 leading venture capital firms to help startups building applications on Cloudflare Workers, a highly-scalable serverless computing platform that allows developers to build or augment apps without configuring or maintaining infrastructure.
"While we can provide the technology, we're thrilled to partner with some of the leading venture capital firms on the Workers Launchpad Funding Program, who will potentially invest more than a billion dollars in funding towards great startups built on Cloudflare Workers as they scale," said Matthew Prince, Co-founder and CEO of Cloudflare.
The venture capital firms include Altimeter Capital, Altos Ventures, Amplify Partners, Bain Capital Ventures, Bessemer Venture Partners, boldstart ventures, Cowboy Ventures, Lightspeed, Norwest Venture Partners, Threshold Ventures and others.
If selected by the participating venture capital firms, companies may receive a cash investment from these participating firms, as well as mentorship and support from Cloudflare.
With Cloudflare's network spanning more than 275 cities in over 100 countries around the world, developers can deploy code close to their users, bringing the speed, performance, and scale of Cloudflare to their customers.
Since 2017, more than 500,000 developers have built on Cloudflare's developer platform and launched more than three million applications.
"We look forward to seeing Workers enable a new class of edge-native companies, and we're excited to invest in these companies," said Renee Shah, Partner at Amplify Partners.
Enrique Salem, Partner at Bain Capital Ventures added that Cloudflare has created a platform that simplifies the development experience while maintaining cost-effectiveness to help empower startups and entrepreneurs, both big and small.
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