Portland, Oct. 2, 2019: Well-known IoT-as-a-Service smart apartment platform IOTAS has completed its Series A round of funding led by TELUS Ventures, including participation by Liberty Global.
Early investor, Intel Capital recommitted capital in this round to fuel growth. With this, IOTAS’ total investment to date exceeds US $17 million, it said in a press release. IOTAS said it would use this round of funding toward driving growth of IOTAS’ Enterprise SaaS offering, a new platform for Smart Communities and expansion into international markets.
IOTAS creates smart apartments for the $1 trillion multi-family-home (MFH) real estate industry. The MFH industry sees Internet-of-Things (IoT) as the future because it attracts more residents at premium leasing rates while reducing operating costs and mitigating risks such as water leaks that average $11,000 per incident.