News

Here’s the pitch deck a Silicon Valley startup used to raise $15 million to promote its edge-computing service


Pixeom CEO Sam Nagar in a photo from 2019

Pixeom offers software that allows corporations to run cloud services and applications in their own data centers.
Its edge-computing service is also designed to help tech administrators more easily manage such centers remotely.
The startup received early backing from Samsung and already has 25 Fortune 500 customers.
It recently raised $15 million using the pitch deck below.
Visit Business Insider’s homepage for more stories.

Sam Nagar didn’t intend to create an enterprise-software company focused on edge computing. It just sort of happened.

When Nagar and his sister, Karishma, formed Pixeom, they were actually trying to undermine some large corporations. They wanted to offer consumers a way to get the advantages of cloud- or internet-based services without having to depend on — and turn their data over to — the big tech companies.

Their solution was a device that allowed individuals to set up a kind of personal cloud in their own homes, one that securely stored and gave them remote access to their data but could also be linked up with the personal clouds of other consumers. On the device, the development of which the siblings funded through Kickstarter, they included software that allowed users to store and share files, create an online marketplace, and run discussion groups.

“We were all excited to go that route in the personal, private storage market,” Nagar told Business Insider in a recent interview. “But that lasted all of about, maybe, three months.”

Samsung persuaded Pixeom to switch gears

Pixeom ended up shipping the device — late, like many Kickstarter projects — but the company soon shifted its focus. Its project caught the eye of Samsung. The electronics giant was impressed with the software Pixeom had created, but it wanted to use its own hardware, initially for an Internet of Things project.

So, Pixeom agreed to license its software to Samsung, and Samsung invested in the company. The funding was welcome — and a model for Pixeom’s future; it would eventually raise funds from other customers.

“We were having trouble getting VC funding … just being one of the only people going into a VC office and saying, ‘Wait, guys, maybe we don’t want to be doing everything up in the cloud,'” he said.

The partnership with Samsung also helped point the company in a different direction. Gradually, Pixeom shifted its focus from helping consumers and small businesses set up their own small-scale cloud services to helping corporate customers run the software designed for and offered through Amazon Web Services and other cloud computing providers in their own data centers. Pixeom’s service is also designed to make it easy for corporate technology administrators to oversee and manage their company’s far-flung data centers remotely.

While cloud computing has been one of the prevailing trends in tech in recent years, Pixeom has found a ready market for its so-called edge-computing service. Companies in many industries want or need the ability to run critical software in-house, rather than in the cloud, Nagar said.

Take offshore oil rigs. Such rigs generate lots of data each day, but …read more

Source:: Business Insider

      

(Visited 3 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *