What is Electric Imp?
Electric Imp provides a comprehensive platform-as-a-service designed to empower manufacturers and enterprises with secure IoT connectivity. Their integrated solution encompasses hardware, OS, security, APIs, and cloud services, purpose-built for the Internet of Things. This approach significantly reduces time-to-market and costs while enhancing security, scalability, and flexibility for connected products. Founded in 2011, Electric Imp operates from locations in Los Altos, California, and Cambridge, England, enabling innovative commercial and industrial applications and facilitating the management and scaling of connected services to millions of users.
How much funding has Electric Imp raised?
Electric Imp has raised a total of $43.9M across 3 funding rounds:
Series A
$7.9M
Series B
$15M
Series C
$21M
Series A (2012): $7.9M with participation from Lowercase Capital and Redpoint Ventures
Series B (2014): $15M led by Rampart Capital LLP, Redpoint Ventures, PTI Ventures, and Foxconn Technology Group
Series C (2016): $21M supported by Redpoint Ventures and Rampart Capital
Key Investors in Electric Imp
Redpoint Ventures
Redpoint Ventures is a venture capital firm founded in 1999, known for its focus on investments in early growth-stage companies.
Rampart Capital
Rampart Capital LLP is an independent investment office based in London, specializing in absolute return investment strategies and providing investment management and advisory services.
PTI Ventures
PTI Ventures is a venture capital firm established in 1997, focusing on early-stage technology companies in the U.S. and Asia, with an emphasis on semiconductor devices, networks, computers, internet applications, and software.
What's next for Electric Imp?
With substantial enterprise-level funding and a recent strategic investment, Electric Imp is well-positioned for accelerated growth. The company's focus on a secure, end-to-end IoT platform suggests a strategic direction towards capturing a larger share of the industrial IoT market. Future developments are likely to involve enhancing their security protocols, expanding their cloud service capabilities, and forging deeper partnerships with hardware manufacturers and enterprise clients. This capital infusion will enable Electric Imp to further solidify its market position and drive innovation in connected device management and data analytics.
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