CloudOne, a Fishers, IN-based IoT Solution enabler, secured $9m in Series E venture funding.
The round was led by Plymouth Ventures with participation from Hercules Technology Growth Capital and existing investors Bootstrap Venture Fund, Chatham Ventures, Elevate Ventures and Ryan Diem.
The company, which has raised $21.9m in total funding, intends to use the funds to grow in IoT Development and IoT Analytics, invest in product innovation and expansion of the team.
Founded in 2010, CloudOne provides a platform to assemble, deploy, manage and advance Internet of Things solution in a secure, virtual private cloud.
FinSMEs
06/04/2016
PRESS RELEASE
Internet of Things (IoT) Firm CloudOne Secures $9M in Series E Funding
Financing to Accelerate Growth in IoT Development and IoT Analytics
This funding provides us with a tremendous opportunity to continue helping our customers advance their IoT initiatives,” said Brett Sharp, chief financial officer of CloudOne
FISHERS, IN – APRIL 06, 2016 – CloudOne (http://www.oncloudone.com), a leader in bringing enterprise applications to the cloud and providing a platform for IoT services and solutions, announced today it secured $9 million in Series E venture funding. The round brings total equity investment in CloudOne to $21.9 million.
Funding was led by Plymouth Ventures of Ann Arbor, Mich. with primary participation by Hercules Technology Growth Capital of Palo Alto, Calif. Existing investors participating in the round include Bootstrap Venture Fund, Chatham Ventures, Elevate Ventures and Ryan Diem. The investment will be used to continue to fuel CloudOne’s growth in IoT Development and IoT Analytics, investment in product innovation and expansion of CloudOne’s team.
“CloudOne continues to execute on a bold vision to be the leading IoT solutions enabler to some of the world’s best companies,” said Brett Sharp, chief financial officer of CloudOne. “This funding provides us with a tremendous opportunity to continue helping our customers advance their IoT initiatives,” he stated.
Founded in 2010 and based in Fishers, Ind., funding comes on the heels of CloudOne’s fourth consecutive year of 100% plus year-over-year revenue growth attributed to the company’s strategy of unifying embedded device software development along with big data analytics for the Internet of Things.