Particle, the IoT platform company focused on making the Internet of Things (IoT) easy, has raised $40 million in series C funding.
Particle claims to be “the only all-in-one IoT platform on the market.” As such, they offer a competitive advantage for companies looking to bring their products and services online. This is especially critical for established companies looking to make the transition, companies who are at risk of being disrupted by smaller, more nimble competitors.
“That’s because technology and innovation are not evenly distributed, and the decades-old manufacturers that lead traditional industries are more likely to be the disrupted than the disruptor,” wrote CEO Zach Supalla in the company’s announcement. “Particle is here to help to change this dynamic; we’re here to empower the next generation of IoT companies and bring the physical world online to fundamentally change how traditional industries operate.”
Particle is already actively helping an impressive list of customers, including Opti, Jacuzzi, Shared Technologies, Korean-based Olulo and the Air National Guard. This latest round of funding will help Particle continue developing their IoT platform and supporting tools.
“Particle will use the money raised in this round of funding to continue developing our enterprise IoT platform suite, as well as scale our engineering and product teams,” according to Supalla. “These new team hires will help bolster our professional engineering service (Particle Studios) and help our customers bring their products to market. We’ll also be expanding into new global markets while hiring in sales and marketing.”