@Particle Announce $20 Million in Series B Funding | #IoT #makerbusiness
In an email to the Particle Community and here on Twitter, Particle announced $20M in Series B funding, with the complete backstory here on Medium written by Particle Founder & CEO Zach Supalla.
Here’s the conclusion:
Today, Particle is announcing that we’ve raised $20M of new investment, led by Spark Capital — early investors in companies like Slack, Twitter, Oculus, and Warby Parker. Spark has earned a reputation for investing in great founders with stellar products and a massive vision. I’m grateful they considered us worthy of their time and energy, and delighted to have them joining our board.
Raising this capital is an important milestone for us — it allows us to significantly invest in growth. We’ll be using this capital to solve more problems for more customers; we’re growing our team so that we can engage with and support more companies, and we’ll be expanding the scope of what our platform does to further simplify what it takes to build an IoT product.
Right now it costs millions of dollars to bring an IoT product to market. Our goal is to make it cost thousands of dollars. When that’s the case, entire industries will be revolutionized. What the web has done for industries like retail and publishing, IoT will do for industries like manufacturing and logistics. And we’ll be out there, leading the charge.
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