Showing posts with label Electric Imp. Show all posts
Showing posts with label Electric Imp. Show all posts

Thursday, April 7, 2016

Electric Imp Raises $21 Million for IoT Platform

Electric Imp, a start-up based in Los Altos, California with offices in Cambridge, UK, raised $21 million in Series C funding for its IoT platform that securely connects devices to advanced cloud computing resources.

Electric Imp's solution includes fully integrated hardware, OS, security, APIs and cloud services.

London-based Rampart Capital led the funding round alongside company insiders and returning venture capital firm Redpoint Ventures. This brings total funding to $43 million.

"This funding is a natural step in Electric Imp’s ongoing expansion and validates our approach with large commercial and industrial customers including Pitney Bowes and other yet to be announced global enterprises,” said Hugo Fiennes, CEO and co-founder of Electric Imp. "Our company is strategically positioned to maximize the potential of our industry-leading technology platform where proven security and scalability are critical to commercial and industrial enterprises.

“In 2014, we proved the reliability and usability of our scalable platform in the consumer market, and partnered with Murata to design and build our hardware modules, enabling our customers to connect their devices quickly, easily, and securely,” continued Fiennes. “In 2015, we launched our enterprise cloud offerings, which allow customers to build on top of our class-leading platform, accelerating their company-wide IoT strategies. Our continued focus on enterprise services has helped us with key customer wins, and has enabled our customers to get their devices connected in record time without sacrificing security.”