Data analytics firm mnubo raises $6M

Montreal-based data analytics startup mnubo announced today that it has raised $6 million in Series A funding from White Star Capital and McRock Capital.

mnubo draws its name from the Latin word ‘nubes’, meaning “cloud”, while the silent M stands for “machine”. It specializes in handling the vast amounts of data generated by the Internet of Things, which includes industrial machine sensors, connected cars, wearable devices, smart buildings, and more.

The company’s SmartObjects platform offers tiered services for collecting and managing data, analyzing data, and applying machine learning and predictive modeling to the analyzed data sets. In addition, mnubo works with a network of partners—including Electric Imp and Ayla Networks—to help its customers deploy and integrate sensors, connectivity and other IoT technologies into their businesses.

Over the past year, mnubo says, the number of devices connected to its platform has quadrupled. Today’s funding round will go toward hiring new personnel in Montreal and abroad as the company prepares to keep up with the growing demand to turn Big Data into usable knowledge.

Related: Interview with Ayla Networks CEO David Friedman

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