Fishers, April 4, 2016: CloudOne, a leader in bringing enterprise applications to the Cloud and providing a platform for IoT services and solutions, announced today it secured US $9 million in Series E venture funding. The round brings total equity investment in CloudOne to $21.9 million.
Funding was led by Plymouth Ventures of Ann Arbor, Mich. with primary participation by Hercules Technology Growth Capital of Palo Alto, Calif. Existing investors participating in the round include Bootstrap Venture Fund, Chatham Ventures, Elevate Ventures and Ryan Diem. The investment will be used to continue to fuel CloudOne’s growth in IoT Development and IoT Analytics, investment in product innovation and expansion of CloudOne’s team.
“CloudOne continues to execute on a bold vision to be the leading IoT solutions enabler to some of the world’s best companies,” said Brett Sharp, Chief Financial Officer of CloudOne, in a written statement. “This funding provides us with a tremendous opportunity to continue helping our customers advance their IoT initiatives,” he added.
Founded in 2010 and based in Fishers, Ind., funding comes on the heels of CloudOne’s fourth consecutive year of 100 percent plus year-over-year revenue growth attributed to the company’s strategy of unifying embedded device software development along with Big Data analytics for the IoT.
Image Credit: CloudOne