Salesforce and other tech giants invest $24M in IFTTT to help it expand in enterprise IoT
May 09 2018
IFTTT (If This Than That), a web-based software that automates and connects over 600 online services/software raised a $24M Series C led by Salesforce. Other investors include IBM and the Chamberlain Group and Fenox Venture Capital.
The latest round brings IFTTT’s funding to $63M and it will use the funding proceeds to provide integration for enterprise and IoT services and hiring. In IFTTT’s platform, applets are code/script users need to deploy to integrate two or more services (such Google Drive’s integration with Twitter/Facebook).
Investment in IFTTT reveals that Salesforce is consolidating its presence in enterprise IoT space. It also acquired Mulesoft, an integration platform that rivals Microsoft’s BizTalk.
IBM’s investment in IFTTT is also noteworthy as the former is pushing its IBM Watson IoT platform. The following statement also shows its keen interest in IFTTT.
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+ IFTTT’s investors in the previous rounds include Andreessen Horowitz.
+ IFTTT plans to introduce new services for connecting ‘things’ in automotive, retail, and hospitality sectors.
+ The company claims it has 14M registered users and 5,000 developers building applets for its platform.
How cool is this? By using the app IFTTT I get a notification whenever the ISS is overhead. So, here I am minding my own terrestial businees, an ISS notification comes along & I remember there's some ppl orbiting DIRECTLY above me at that very moment! pic.twitter.com/iUNCgIEDHD— Stavros™ = Σταυρoς© (@dodona777) May 5, 2018