Mimik Technology raises $ 17.9 million CAD to run any computing device as a cloud server

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Mimik Technology raised $ 17.9 million CAD ($ 14.4 million) in its all-equity Series A funding round led by Pier 88 Investment Partners.

Other contributors to the funding include Cathie Wood, founder, CIO and CEO of ARK Invest and a member of the board of directors of Mimik, along with existing investors Primera Capital and NLabs.

Mimik, headquartered in Oakland, California, was founded in 2009 with a mission to enable any computing device to act as a cloud server, helping app developers accelerate the process of getting products to market.

Although the company is headquartered in the United States, Mimik has a strong presence in Canada. According to his LinkedIn profile, 33 of Mimik’s 46 employees are located in Canada. Mimik’s engineering operations are located in Canada while commercial activities are managed in the United States and Europe. In addition to the headquarters, Mimik has offices in Vancouver, Madrid, Spain and London, United Kingdom.

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Backed by new capital, Mimik said the funding is intended to expand its market operations, including sales, solution delivery, developer involvement, technical training and partnership development. According to the startup, the Series A boost brings its total funding to around $ 23.6 million CAD ($ 19 million).

In July 2020, Mimik partnered with Amazon Web Services (AWS) to offer its hybrid edge cloud platform to AWS customers. In December, Mimik also partnered with IBM to create AI-enabled workflow solutions designed to accelerate automation in the manufacturing, retail, IoT and healthcare industries.

A report prepared by Markets and Markets found that the global managed services market is worth $ 249 billion in 2021 and is expected to reach $ 354.8 billion by 2026. The report says some of the market drivers include a lack of skilled IT professionals , increased demand for secure IT infrastructure during the cost and risk reduction pandemic and requirements for regulatory compliance and security.

Image from the Mimik Facebook page

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