Revolutionising the mobile Internet of Things (IoT), Germany’s IoT connectivity platform EMnify has raised $57 million Series B investment from London-based growth investor One Peak. The Berlin-based startup will use the fresh funding to boost global market expansion, especially in the US, and develop its proprietary cellular IoT technology.
The company is also looking to expand the leadership team and double its headcount in 2022, with a focus on the technology and go-to-market functions in the DACH region and North America.
Founded in 2014 by Alexander Schebler, Frank Stoecker, Martin Giess, the startup is on a mission to equip customers with secure, reliable and borderless cellular IoT connectivity for millions of connected devices that range from electric vehicles to energy meters, alarm systems to GPS trackers and thermometers to health wearables.
Talking about the expansion beyond Europe, which will include the formation of a U.S. headquarters in California, Frank Stoecker, CEO and co-founder of EMnify said, “We will use the new capital to accelerate our market expansion and product development globally, with particular focus on the US market, where we already have 20 percent of our global customer base, representing over 30 percent of our revenues.”
“The startup is paving the way to meet the demand for global borderless connectivity to be available as a cloud-native resource analogue to other existing components of a modern technology stack,” said David Klein, Managing Partner at One Peak.
The platform grew its active SIMs by 55% and revenue by 50% in 2021. The disruptive software platform has raised $80 million until now and claims to be the single biggest independent IoT network. It supports local access (2G – 5G, LTE-M, NB-IoT) to over 600 radio network operators in almost 200 countries from over 25 cloud regions.