San Francisco, CA, September 27, 2022 – Cloudflare, Inc. (NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced a new funding program for startups in partnership with leading venture capital investors. The Workers Launchpad Funding Program will 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.
Cloudflare is partnering with 26 leading venture capital firms including: Altimeter Capital, Altos Ventures, Amplify Partners, Bain Capital Ventures, Bessemer Venture Partners, boldstart ventures, Cowboy Ventures, Decibel, Emergence Capital, FirstMark, Greylock Partners, IVP, Lightspeed, Meritech, New Enterprise Associates (NEA), Norwest Venture Partners, Pear, Root Ventures, Scale Venture Partners, Signal Peak, Silverton Partners, StepStone Group, Threshold Ventures, U.S. Venture Partners, Venrock, and Vertex Ventures US to support developers using Cloudflare Workers to build their applications. Any private company globally that is building on Cloudflare Workers is eligible to apply for the program. If selected by the participating venture capital firms, companies may receive a cash investment from these participating firms, as well as mentorship and support from Cloudflare.
“If there’s one thing venture capitalists look for in the companies they fund, it’s the potential to achieve significant scale. Startups that build on Cloudflare Workers are building on a platform made to automatically support serious scale,” said Matthew Prince, co-founder and CEO of Cloudflare. “While we can provide the technology, we’re thrilled to partner with some of the leading venture capital firms on the Workers Launchpad Funding Program, who will potentially invest more than a billion dollars in funding towards great startups built on Cloudflare Workers as they scale.”
Today, hundreds of thousands of developers around the world rely on Cloudflare Workers to build and deploy applications without configuring or maintaining costly infrastructure. With Cloudflare’s network spanning more than 275 cities in over 100 countries around the world, developers can deploy code close to their users, bringing the speed, performance, and scale of Cloudflare to their customers. Since 2017, more than 500,000 developers have built on Cloudflare’s developer platform and launched more than three million applications.
Startups applying for the program will be eligible for potential investment from investors, the Cloudflare Startup Enterprise Plan, which includes Cloudflare Workers, Cloudflare for Teams, Cloudflare Stream, and additional core security and performance offerings, as well as exclusive events.
Companies see success building with Workers
In 2021 Cloudflare acquired Zaraz, representing its first acquisition of a company built on its own technology, Cloudflare Workers. “When we began building Zaraz, we chose to rely on Cloudflare Workers because we understood how critical a decision it was to find the right platform that could help us launch faster and also scale with our business,” said Yair Dovrat, product manager for Zaraz at Cloudflare and former CEO and co-founder of Zaraz. “We were blown away by the developer experience, performance, and security that Workers offered and ultimately joined the Cloudflare team to help push the standard for a better Internet more holistically.”
"Our use of Workers has greatly expanded, and it's now become a critical part of our software. Workers performs a lot of key functions for our app, and we're looking into more potential uses right now,” said Sergey Tselovalnikov, API Platform Lead at Canva.
Comments from Partners
To learn more about the Cloudflare Workers Fund, 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 for Teams, Cloudflare Stream, and Cloudflare’s other products and technology, the capabilities and effectiveness of Cloudflare Workers, Cloudflare for Teams, Cloudflare Stream, and Cloudflare’s other products and technology, the expected functionality and performance of Cloudflare Workers, Cloudflare for Teams, Cloudflare Stream, and Cloudflare’s other products and technology, the timing of when any new features of Cloudflare Workers, Cloudflare for Teams, Cloudflare Stream, 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 August 4, 2022, as well as other filings that we may make from time to time with the SEC.
The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions, or expectations disclosed in Cloudflare’s forward-looking statements, and you should not place undue reliance on Cloudflare’s forward-looking statements.
© 2022 Cloudflare, Inc. All rights reserved. Cloudflare, the Cloudflare logo, and other Cloudflare marks are trademarks and/or registered trademarks of Cloudflare, Inc. in the U.S. and other jurisdictions. All other marks and names referenced herein may be trademarks of their respective owners.