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[ Crunchbase ]
While the hype around IoT has slowed somewhat as smart and connected devices have become nearly mainstream, it appears the sector hasn’t waned at all. In terms of dollars, it’s growing.
In 2017, venture capital funding into U.S.-based IoT startups alone reached its highest annual mark as investors poured $1.46 billion into startups, according to Crunchbase data. That’s up 42 percent from $1.03 billion in 2016, and 216 percent more than the $461.7 million raised in 2013.
The year included a number of double-digit funding rounds. One of 2017’s largest investments included TrackR’s $50 million Series B round, a Santa Barbara, Calif.-based maker of devices that track your lost keys and every day carry. Revolution led the round, which included participation from Foundry Group, Amazon Alexa Fund, DoCoMo Capital,The Glenmede Trust, and Bespoke Strategies.
San Francisco-based identity management startup ForgeRock brought in $88 million in a Series D round led by Accel Partners and included participation from Foundation Capital,Meritech Capital Partners, and KKR & Co. The startup has raised a total of $140.2 million since its inception in 2010.
In September 2017, San Francisco-based Bastille raised $27 million in a Series B round from Bessemer Ventures, Spinnaker Ventures, Keel Funds and Ballentine Capital. The company provides threat detection and security for IoT. Also in September 2017, Burlington, Mass.-based machine data analytics startup Logtrust took in $35 million in a Series B round that included participation from Insight Venture Partners and Kibo Ventures.
IoT Goes Industrial
“The key is boiling a big problem into bite-size pieces that are truly easy… to digest and act upon.”hat venture interest in the sector hasn’t waned at all. In terms of dollars, it’s growing.
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