San Francisco, CA, November 17, 2022 – Cloudflare, Inc. (NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced the Workers Launchpad Funding Program has grown to $2 billion for potential investment in startups building on Cloudflare Workers, an increase of 14 partners and $750 million in less than two months. Cloudflare is also introducing the first cohort of startups participating in the program, featuring 25 companies from 10 countries.
“When we set out to debut the Workers Launchpad, we were aiming for $250 million and surpassed that goal by a mile when we hit $1.25 billion. To reach $2 billion is a big deal, and one that proves the industry trusts in the potential of our global network” said Matthew Prince, co-founder and CEO, Cloudflare. “As we hit 1 million developers building and maintaining applications with Cloudflare, there’s no better time to continue investing in the developers using Cloudflare.”
The Cloudflare Workers Launchpad funding program initially launched in September 2022 to provide up to $1.25 billion of financing to startups building applications on Cloudflare Workers, a highly-scalable serverless computing platform that allows developers to build or augment apps without configuring or maintaining infrastructure. In the days and weeks following, Cloudflare received a surge in interest globally from venture capitalists interested in joining the program. Cloudflare has now welcomed 14 additional venture capital partners into the program, adding regional expertise in Australia and Latin America to the pool of partners.
New venture partners include:
Introducing the Workers Launchpad’s Fall 2022 Cohort Additionally, Cloudflare is announcing the Fall 2022 cohort of 25 entrepreneurs from around the world, chosen from hundreds of applicants from over 30 countries. Cohort finalists include Apyfy, working on data privacy, and Grafbase, accelerating backend software development. The cohort includes startups from Belgium, Canada, France, Germany, India, Netherlands, Portugal, Singapore, the United Kingdom, and the United States. The cohort will have the opportunity to pitch VC partners for investment, receive technical advice and support, participate in a virtual boot camp featuring sessions led by Cloudflare leaders and VC partners, and showcase their businesses during a Demo Day.
“We’ve been blown away by the engagement and excitement the venture capital firms have shown when they saw the caliber of applicants,” said Mia Wang, M&A and Strategy Director at Cloudflare. “The selection process for the first cohort has been collaborative and we’re looking forward to connecting startups directly with VCs in the coming weeks.”
A Million Developers Building With Cloudflare Earlier this week, Cloudflare shared that 1 million developers are building and maintaining enterprise-ready applications with Cloudflare. With Workers features like Pages, Durable Objects, R2 and D1, and application services like rate limiting, load balancing, bot management and more, Cloudflare provides the tools to make building and maintaining applications cheaper, faster, and easier for developers.
To learn more, please check out the resources below:
Cloudflare is not providing any funding or making any funding decisions, and there is no guarantee that any particular company will receive funding through the program. All funding decisions will be made by the venture capital firms that participate in the program. Cloudflare is not a registered broker-dealer, investment adviser, or other similar intermediary.
About Cloudflare Cloudflare, Inc. (www.cloudflare.com / @cloudflare) is on a mission to help build a better Internet. Cloudflare’s suite of products protect and accelerate any Internet application online without adding hardware, installing software, or changing a line of code. Internet properties powered by Cloudflare have all web traffic routed through its intelligent global network, which gets smarter with every request. As a result, they see significant improvement in performance and a decrease in spam and other attacks. Cloudflare was named to Entrepreneur Magazine’s Top Company Cultures 2018 list and ranked among the World’s Most Innovative Companies by Fast Company in 2019.
Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “explore,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” or the negative of these words, or other similar terms or expressions that concern Cloudflare’s expectations, strategy, plans, or intentions. However, not all forward-looking statements contain these identifying words. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements regarding the potential benefits to Cloudflare customers from using Cloudflare Workers, Cloudflare’s application services products, and Cloudflare’s other products and technology, the capabilities and effectiveness of Cloudflare Workers, Cloudflare’s application services products, and Cloudflare’s other products and technology, the expected functionality and performance of Cloudflare Workers, Cloudflare’s application services products, and Cloudflare’s other products and technology, the numbers of developers building and maintaining applications with Cloudflare and any future growth in the number of such developers, the timing of when any new features of Cloudflare Workers, Cloudflare’s application services products, or any of Cloudflare’s other products and technology will be generally available to all current and potential Cloudflare customers, the potential availability of financing and other benefits for startups building applications using Cloudflare Workers and, if provided to any startup, the timing or amount of such financing or other benefits, Cloudflare’s technological development, future operations, growth, initiatives, or strategies, and comments made by Cloudflare’s CEO and others. Cloudflare’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in its filings with the Securities and Exchange Commission (SEC), including Cloudflare’s Quarterly Report on Form 10-Q filed on November 3, 2022, as well as other filings that we may make from time to time with the SEC.
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