IoT platform Particle raises $40m in Qualcomm-led funding round
Particle, a platform for IoT devices, has raised $40 million in Series-C funding led by Qualcomm Ventures and Energy Impact.
The latest round brings Particle's total funding so far to $81 million. Other participants included Spark Capital, Bonfire Ventures, Counterpart Ventures, Root Ventures, and Green D Ventures.
Particle is based in San Francisco and promises to be an end-to-end solution for IoT device deployments which includes both software and hardware. Existing customers are now gathering more than 22 billion sensor data points annually.
Zach Supalla, CEO of Particle, said:
"Over the last seven years, we've seen a wide range of business embrace IoT, especially those driving innovation in traditional industries.
More and more of our customers are in old-fashioned, even unglamorous, businesses like stormwater management, industrial equipment, shipping, or monitoring any number of compressors, pumps, and valves.
These businesses are diverse, but the common thread is that they need to monitor and control mission-critical machines, and we see it as our mission to help bring their machines, vehicles, and devices into the 21st century."
IoT development kits from Particle feature WiFi, cellular, Mesh, and Bluetooth connectivity. The kits connect to a dedicated IoT-focused network which provides device management and over-the-air updates.
Particle's cellular connectivity is available in over 150 countries and supports 2G, 3G, and/or LTE dependent on location.
For developers, Particle's SDKs are available for Android, iOS, and the web. Particle has IDEs available in addition to command-line interfaces. A drag-and-drop rules builder is also available which aims to assist with developing cloud apps without any coding. The company says it's now home to around 200,000 developers.
The company's revenue has swelled 150 percent year-on-year, showing the demand for the IoT and Particle's solutions which help to provide scalability and security.
Carlos Kokron, VP and MD of Qualcomm Ventures Americas, commented:
"Creating a bridge from the physical to the digital world is far more complex than most people realise. From the device itself to the network to cloud connectivity and software functionality, there are a lot of moving parts and complexities.
Particle's full-stack platform for IoT technology development accounts for all of these vital elements in a highly secure and flexible environment. We have been very impressed with Particle's technology and market traction and are excited to continue to support their growth."
Particle's ever-expanding customer list includes esteemed names such as SpaceX, MIT, NASA, Jacuzzi, Continental Tires, Keurig, Stanford, Altrac, Opti, Shifted Energy, and over 8,500 others.
Particle has offices in San Francisco, Shenzhen, Las Vegas, Minneapolis, and Boston.
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