Smart device firm EVRYTHNG lands £20.4m in Series B funding
Startups 100-featured company will use finance to expand its team and to fuel the development of its enterprise-focused IoT platform
EVRYTHNG, a London-based smart device management platform, has completed a £20.4m Series B funding round led by Sway Ventures, alongside Generation Ventures and Bloc Ventures.
Former investors in the company include Cisco Investments, Samsung, BHLP, Atomico, Dawn Capital and Advance Vixeid Partners.
Founded in 2011 by Niall Murphy, Andy Hobsbawn, Dom Guinard and Vlad Trifa, twice featured Startups 100-featured EVRYTHNG is an Internet of Things (IoT) start-up that connects inanimate, everyday products to the web.
This makes products “more intelligent, more interactive, more trackable” and allows businesses to gain real-time insights for inventory tracking, protection and management. Its software can be embedded in everything from packaging, to kettles and even bikes.
The funding, which follows a $7m Series A round in 2014, will enable EVRYTHNG to grow its team, invest in the development of its enterprise-focused IoT platform and foster relationships with more partners in the sector.
Murphy commented: “This funding round is a signal of the maturing and adoption of the Internet of Things in the enterprise.
“We are pleased to be working with world-class investors and enterprise partners to realise our vision of ‘Every Thing Connected’ as the trillions of products made and sold across the world become instrumented and a part of the digital ecosystem.”
Brian Nugent, founding general partner at Sway Ventures, added: “We are excited to be supporting the company’s growth and realisation of its vision, which is both category-defining and playing a critical role in the digital transformation of the consumer product brand market.”