News Feed Item
Electric Imp Announces $15 Million in Series B Funding
|By Business Wire
|August 13, 2014 09:02 AM EDT
Electric Imp, an innovative and powerful platform that makes it simple
to connect devices to the Internet, today announced it has completed $15
million in Series B funding from new investors Foxconn Technology Group,
PTI Ventures and Rampart Capital, and returning investors Redpoint
Ventures and Hugo Fiennes, CEO and Co-founder of Electric Imp. The new
funding adds to the $8 million Series A investment the company received
in 2012, and will accelerate the continued rapid growth, development and
worldwide adoption of the company’s platform and product portfolio.
“Half a million connected products are in the market today using
Electric Imp’s technology. This investment round will enable Electric
Imp to continue the global expansion of its innovative Internet
connectivity platform into new markets, applications and strategic
relationships,” said Hugo Fiennes, CEO and Co-founder of Electric Imp.
“From the beginning, our goal has been to deliver the most dynamic
platform that empowers businesses with a solution to easily integrate
connectivity into their products. The growing number and range of
devices in the marketplace successfully utilizing our platform is a
clear validation of that strategy.”
“Foxconn, a world leading manufacturer, is actively developing the best
technologies to bring greater value and benefit to our customers,” said
Young Liu, general manager of Foxconn’s Innovation Digital System
Business Group (iDSBG). “Our investment in Electric Imp, one of the
leading Internet connectivity platforms, enables us to remain at the
forefront of the rapidly emerging Internet of Things movement as we
continue to bring the best technology to the market.”
Fiennes added, “Working with Foxconn Technology Group helps grow our
market reach, enabling us to offer our platform benefits to an even
wider group of customers and business partners.” The Electric Imp
connectivity platform launched in 2012 as the realization of Fiennes’
vision of creating a comprehensive solution for building IoT devices.
The company’s proven WiFi-enabled platform - featuring fully integrated
hardware, software, OS, APIs and cloud services - dramatically decreases
cost and time to market while increasing flexibility, security, and
Since introducing its pioneering platform two years ago, Electric Imp
has been adopted by a wide variety of customers - including Quirky + GE,
Budweiser, Rachio and Safer Aging - with products in more than 15
segments currently available in the marketplace. Electric Imp is also
enabling connectivity in an array of industrial sectors, ranging from
asset management, HVAC, and energy management to manufacturing and green
technology. The company has formed a growing number of strategic
relationships with companies such as IDEO and EnOcean, among others.
About Electric Imp
Electric Imp offers an innovative and powerful platform that makes it
simple to connect devices to the Internet. Our unique WiFi-enabled
solution - featuring fully integrated hardware, software, OS, APIs and
cloud services - dramatically decreases cost and time to market. The
Electric Imp platform is reliable and secure, empowering manufacturers
and developers to manage and quickly scale their connected products and
services to millions of users.
Electric Imp, founded in 2011, is located in Los Altos, California and
About Foxconn Technology Group
Founded in 1974, Foxconn Technology Group, under the leadership of
founder and Chairman Terry Gou, offers the most competitive production
manufacturing technology in the world. With forward-looking vision,
Foxconn self-created the 3C OEM service business model eCMMS,
incorporating vertical integration of mechanical, optical and electronic
components, as well as the advantage of one-stop integrated solution.
Foxconn Technology Group has in recent years gradually transformed in
the direction of technology services, providing customers the most
comprehensive solutions. Aside from maximizing value creation for
customers, Foxconn Technology Group is also dedicated in enhancing the
concept of environmental protection in the manufacturing process and
aims to be the trusted partner for customers as well as the model for
About PTI Ventures
PTI Ventures specializes in early to growth stage capital for private
technology companies in the United States, Taiwan, and China that can
benefit from its role as active investor and business development
partner, leveraging an extensive network of business partners in Asia.
About Rampart Capital
Rampart Capital is an independent investment office based in London,
England, providing investment management and advisory services
worldwide. We have proven expertise in absolute return investment
strategies across a wide range of asset classes and our approach to
investing is flexible, transparent and entirely aligned to our clients’
interests. We focus on allocating capital to opportunities drawn from
the widest range of strategies and markets that offer the best reward
for their risk. We construct portfolios by bringing these investments
together, whilst seeking to ensure a high degree of diversification
between uncorrelated assets.
About Redpoint Ventures
Since 1999, the Redpoint team has been partnering with visionary
founders who create new markets or redefine existing ones. From the
earliest stages, we have supported HomeAway, Fortinet, Heroku, Netflix,
TiVo, Juniper, RightMedia, Zimbra, LifeSize, among many others, helping
them transform their industries.
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location.
With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Aug. 25, 2016 01:00 PM EDT Reads: 3,868
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Aug. 25, 2016 01:00 PM EDT Reads: 2,578
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Aug. 25, 2016 12:51 PM EDT
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts?
As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
Aug. 25, 2016 12:45 PM EDT Reads: 556
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing.
In his session at 19th Cloud Expo, Raghav...
Aug. 25, 2016 12:45 PM EDT Reads: 529
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open.
Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Aug. 25, 2016 12:15 PM EDT Reads: 3,375
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time.
In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Aug. 25, 2016 11:00 AM EDT Reads: 515
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products.
Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
Aug. 25, 2016 11:00 AM EDT Reads: 1,820
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH.
Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Aug. 25, 2016 10:30 AM EDT Reads: 475
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Aug. 25, 2016 09:15 AM EDT Reads: 578
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Aug. 25, 2016 09:00 AM EDT Reads: 487
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 25, 2016 09:00 AM EDT Reads: 555
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Aug. 25, 2016 08:45 AM EDT Reads: 2,106
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better.
The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Aug. 25, 2016 08:30 AM EDT Reads: 424
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value.
In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Aug. 25, 2016 08:30 AM EDT Reads: 1,726