Losant gets $5.2M Series A to scale its enterprise IoT platform
Feb 19 2018
Losant, an edge-to-analytics platform for enterprise IoT customers raised a $5.2M Series A round. It was led by CincyTech with participation from Rise of the Rest Seed fund, TechNexus, and Vine Street Ventures.
Losant’s backer $150M ROTR (Rise of the Rest) seed fund is itself backed by notables like Eric Schmitt, Jeff Bezos, Meg Whiteman, Michael Bloomberg, and Reid Hoffman. ROTR fund was launched by Revolution, a DC-based venture capital firm. ROTR is aimed at backing startups outside Silicon Valley, New York, and Boston area.
CincyTech, the main backer of Losant is a venture capital firm that invests in enterprise and business software apps, digital health, and life sciences.
Losant is among the nice portfolio companies being funded in ROTR’s current program. The startup’s core product is SaaS platform that consists of several modules including Edge, Helm, Aperture, Alloy and Kiln. For instance, the Edge consists of device libraries (helps in device connectivity & firmware dev), gateways, and edge compute engine. Losant also offers SDKs and APIs for industrial customers to build their own connected services using the startup’s platform.
The startup plans to use the funding proceeds to scale its IoT platform to serve more customers as it currently has several big clients like Verizon, Bosch, and Hewlett Packard Enterprise.
+ Losant offers solutions in several verticals including healthcare, logistics, smart city, and retail.
+ Losant also has solution partners that can help companies build services/use cases on top of Losant platform.
Positioning your business to grow in the #IoT requires strategic partners that understand the digital environment. See why Bosch, P&G, & Verizon are already working with us. We look forward to working with you to ensure your success.— Losant (@LosantHQ) February 14, 2018
We are proud to have earned this investment. https://t.co/VMzdB4vCty