Cosmonic Raises $8.5 Million in Seed Round

by Kay Aloha Villamor in October 26th, 2022

Cosmonic, an Arlington, VA-based WebAssembly (Wasm) pioneer, closed $8.5 million in a seed funding round led by Vertex Ventures.

Joining Vertex's General Partner In Sik Rhee in this early round is Meta advisor (and Facebook's ex-VP infrastructure engineering) Jeffrey Rothschild; WebLogic and funding syndicate founder Bob Pasker; Jeff Burkland (founder of financial consultancy Burkland Associates); Tom Killalea, chairman of the MongoDB board of directors, and VC firm General Advance.

The round is also supported by Cosmonic co-founder and CEO Liam Randall's Relentless VC. The terms of the deal were not disclosed.

The funds will be used to accelerate the development of Cosmonic's Platform-as-a-Service (PaaS), a lightweight suite of Wasm-powered tools, features, and services that radically abstract complexity from application development and management. 

"We are on a mission to bring back joy to the art of developing cloud-native software," said Liam Randall, co-founder and CEO of Cosmoniic, "The complexities of building modern distributed applications have brought developer productivity to a crawl, adding friction and unnecessary complexity to every stage of the development life cycle. This funding round will enable us to support developers working in early-stage, rapid and interactive environments -- allowing them to transform applications from napkin sketch to scale in minutes. Future releases will offer the advantages of high reliability and lower long-term software maintenance costs."

Cosmonic is built atop wasmCloud, the fast-growing Cloud Native Computing Foundation (CNCF) sandbox project, and the universal platform for composing distributed applications from portable business logic that runs anywhere, at any scale. 

wasmCloud eliminates 95% of code and entire classes of development challenges by treating non-functional application requirements (e.g., databases, servers) as composable components behind an abstraction. Launched in November 2020, wasmCloud has grown quickly to include over 100 core contributors and was accepted as a Cloud Native Computing Foundation (CNCF) sandbox project in August 2021.

Company: Cosmonic Corp.

Raised: $8.5M

Round: Seed Round

Funding Month: October 2022

Lead Investors: Vertex Ventures

Additional Investors: In Sik Rhee, Jeffrey Rothschild, Bob Pasker, Jeff Burkland, and Tom Killalea

Company Website: https://cosmonic.com/

Software Category: WebAssembly

About the Company: Founded by open-source veterans Liam Randall and Kevin Hoffman, Cosmonic is the first feature-rich WebAssembly PaaS. The Cosmonic platform introduces a fully managed, feature-rich environment that further abstracts complexity and boosts development velocity. Powered by Wasm, its intuitive suite of tools, features, and services allows developers to adopt, operate, and rapidly scale applications across diverse devices and CPUs in any cloud or edge scenario. Cosmonic is helping develop and promote wasmCloud PaaS. This universal runtime platform enables developers to use cloud native technologies and Web Assembly to build portable, pluggable business logic that runs anywhere, including multi-cloud, multi-edge, and far-edge environments. 

Source: https://www.prnewswire.com/news-releases/cosmonic-raises-8-5-million-led-by-vertex-ventures-to-usher-in-cloud-native-webassembly-301658424.html




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