Next.js maker Vercel has raised a $150M Series D round. The funding round was led by GGV Capital and saw participation from existing investors Accel, Bedrock Capital, Salesforce Ventures, Tiger Global, and a few more.
- The leadership team at Vercel plans to use the recently raised money to support open source projects, make the web edge-first, build the end-to-end development platform, and grow its team.
- According to Vercel, traffic on its Edge Network has grown 700% since its Series A raise in April 2020.
- The latest funding round pushes the company's valuation to $2.5B and total funding to $313M.
- Separate but related: Netlify had announced a $105M Series D round last week.