(Pictured Ben Corrado, co-founder and CEO, and Len Jordan)
Today I’m very pleased to announce our investment in Rigado, developers of an ‘edge-as-a-service’ platform for next generation IoT applications. We have known members of the Rigado team for many years, are impressed with their product/business progress and are glad to be leading their A round of $15 million with participation from existing investors Oregon Venture Fund, FusionX and Vanedge Capital.
Rigado’s platform plays an important role in the hybrid distributed computing world that marries the cloud with processing at the edge. Their recent release of ‘Cascade’ leverages the team’s strong history in device connectivity with a sophisticated container-based software API system and gateway for security, management, provisioning orchestration and cloud integration.
We have been studying the IoT market for several years and believe it will become more and more important as intelligence at the edge matures. We are especially impressed with Rigado’s customer traction in new commercial applications like retail/hospitality, building management and more classic IoT use cases around asset tracking and telemetry.
We look forward to working closely with the team, they have strong relationships with important partners like Microsoft and Amazon who are well-known to Madrona. We are also especially happy to be working with another great company in Oregon and look forward to connecting Rigado to our colleagues up and down the Cascade corridor.