Oxide Computer Company, the Emeryville, California maker of rack-scale on-premises cloud computers, raised $200m in a Series C round. Co-founders Bryan Cantrill and Steve Tuck announced it in a post on the company's blog dated 5 February 2026, and a press release followed on 10 February.
According to the release, the round was led by Thomas Tull's US Innovative Technology Fund (USIT). Existing investors Eclipse, Riot Ventures and Jane Street also took part, along with other investors the release did not name. The company said the round doubled its total funding for the second time. It did not give a total, a valuation or a headcount.
The blog post describes a $100m Series B that came before this round and says the new money came entirely from existing investors.
What Oxide builds
Oxide sells the Oxide Cloud Computer, a rack-scale integrated system that combines purpose-built hardware with open-source software. It is meant to give companies a self-service, API-driven, cloud-style experience inside their own data centres. The company says this comes with better performance, sovereignty and economics than assembling the same infrastructure from separate parts. Oxide designs and manufactures the systems itself.
The company was founded in 2019. Tuck is chief executive and Cantrill is chief technology officer. The press release described enterprise customers across industries but named none of them. Let's Data Science reported that the company is also refreshing its rack hardware with AMD Turin EPYC processors, DDR5 memory and new switch silicon.
Why Oxide raised
The founders wrote that Oxide has product-market fit and sound unit economics, and that it does not need the money to keep the business running. They said investors wanted to keep backing the company as it grew, and that they valued the trust those investors showed at earlier, riskier stages.
They also argued that time has always been Oxide's main constraint, and therefore capital too, a point they said was already in the company's 2019 pitch deck. In the post they said the round largely removes the risk around future funding and protects the company's independence. They tied that to customers who worry that an infrastructure startup might be bought by an established vendor. Oxide said it wants to build a lasting company rather than become an acquisition target.
Who invested
Gaetano Crupi, managing director at USIT, cited Oxide's pace of customer adoption and its execution since the Series B as reasons for the fund's larger commitment, according to the press release as republished by StorageNewsletter. Seth Winterroth, a partner at Eclipse, described Oxide as a platform with no real competition.
The press release described Eclipse, Riot Ventures and Jane Street as existing investors. It did not say how much any single investor put into the round.
What the money is for
The release said the funds will go to the product roadmap, an expansion of manufacturing capacity and customer support. Tuck said the investment ensures the company can serve customers for the long term, and Cantrill said infrastructure demands long-term partners.
Company website: oxide.computer