Oxide Computer has announced securing $100m in a Series B funding round, led by Thomas Tull’s US Innovative Technology Fund (USIT), with contributions from existing investors.
This investment more than doubles Oxide Computer’s previous capital, which stood at $89m over nearly six years since its inception.
The funding will facilitate the scaling of manufacturing, expansion of customer support, and acceleration of product delivery to meet demand for an integrated on-premises cloud computing solution.
Oxide Computer CEO and co-founder Steve Tuck said: “This round gives us the ability to scale confidently and sustainably in step with accelerating customer growth.
“Our customers want the agility of the public cloud without giving up control, and they want to know their infrastructure partner is built to last. With this raise, we’re deepening our commitment to delivering a long-term solution that meets those needs head-on.”
Founded in 2019 and headquartered in Emeryville, California, Oxide Computer focuses on providing unified hardware and software solutions that bring hyperscaler-level efficiency and performance to on-premises environments.
These systems enhance security, control, and latency management for enterprises across various sectors. The company seeks to transfer innovations typically confined to datacentres of major cloud providers to enterprises operating their own IT infrastructure.
Explaining the industry context, Oxide Computer noted that substantial advances in cloud computing have largely benefited major cloud service providers over the past two decades. This has left traditional enterprises with limited options for similar efficiency and developer experiences.
Oxide Computer aims to fill this gap by offering a unified product that combines the ease of cloud operations with the control required for on-premises systems. Its integrated rack-scale system incorporates features such as API-driven infrastructure and elastic storage for environments where public cloud solutions may not be suitable.
USIT managing director Gaetano Crupi said: “Compute infrastructure stands at a major inflection point, with many organisations being forced to rethink the viability of outsourcing such a critical part of their value chain to public clouds.
“Oxide has met the moment, delivering the first truly integrated, cloud-capable infra solution that can be fully owned by the customer, and addresses the needs of modern workloads by optimising performance, security, and cost efficiency.”
Previously, in October 2023, the company closed a $44m Series A round led by Eclipse, alongside participation from Intel Capital, Riot Ventures, Counterpart Ventures, and Rally Ventures. This earlier investment was targeted at accelerating production capabilities for Fortune 1000 enterprises, increasing total financing to $78m at the time.
Story Continues
While announcing the Series A round, Oxide Computer also unveiled its commercial Cloud Computer. This rack-scale system integrates both hardware and software designed specifically for on-premises cloud computing.
The system enables enterprises to derive both economic and operational benefits akin to traditional cloud services but with enhanced control and without the typical costs associated with public cloud usage.
“Oxide Computer secures $100m in Series B” was originally created and published by Verdict, a GlobalData owned brand.
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