Vancouver’s mimik has raised a $14.3 million Series A funding round led by San Francisco’s Pier 88 Investment Partners and including Cathie Wood, Founder, CIO and CEO of ARK Invest and member of the mimik Board of Directors.
Wood is known for making bold predictions. Wood received considerable media attention in February 2018 after she stated on CNBC that she believed Tesla stock could reach a price of $4,000 in five years, a 1,100% increase from its price at the time, and reiterated the claim in May 2019 after its price had dropped 29%. While Wood’s statement was widely ridiculed at the time, Tesla’s price reached her target on a split-adjusted basis two years early in January 2021.
mimik plans to use the funds to expand its global go-to-market operations including sales, solutions delivery, developer outreach, technical training, and partnership development.
mimik’s hybrid edgeCloud platform transforms cloud applications from a fixed client-server architecture—where server functionality is limited to servers in data centers and gateways—to a fully distributed architecture, enabling billions of smart client devices to act as servers and delivering nearly endless scalability.
The mimik platform enables heterogeneous applications, processes, and devices to autonomously communicate in clusters on the edge regardless of their operating system or network. Because data is processed at the edge, mimik’s platform requires significantly less bandwidth and power, reduces cloud hosting costs, is more resilient than traditional client-server architecture, and offers much higher levels of data privacy and security.
“We have spent nearly a decade in R&D, building a platform to address the six major concerns of most developers: speed, cost, security, data privacy, interoperability, and scale,” said mimik Founder and CEO Fay Arjomandi. “The mimik platform offers a strong foundation to build sustainable edge cloud services to help accelerate digital transformation and power the hyper-connected digital economy.”
“I’ve always believed in backing founders who are at the forefront of innovation,” stated Cathie Wood, Founder, CEO, and CIO of ARK.
“At mimik, Fay and her team have built a foundation for the next generation of cloud computing. By extending server-side technologies to the edge, mimik lets developers build applications that run seamlessly from the edge to data center with unmatched privacy and performance.”
To drive the adoption of hybrid edge cloud computing, mimik has established strategic partnerships with leading cloud companies such as Amazon Web Services (AWS) and IBM and technology services companies such as Tata Elxsi.