Menu

M2M FEATURE NEWS

M2M Service Delivery Platform Provider SensorLogic Raises $5M in Additional Funding

By Anil Sharma December 14, 2010

SensorLogic, Inc., a service delivery platform provider for machine-to-machine (M2M) applications, raised $5 million in additional funding.

Officials with SensorLogic said that the momentum round, which came from existing investors, will be used to fund sales and marketing activities as well as increase the size of the delivery and operations teams.

Company officials said that SensorLogic uniquely delivers the power and efficiencies of cloud computing to the M2M market. The company helps businesses rapidly build and deploy custom applications that leverage its ‘M2M as a Service' offering to connect mobile devices, assets and resources to people and business systems.

“SensorLogic's platform is being used by a growing number of strategic partners and customers to deliver a new generation of cloud-based enterprise services,” said Michael Campbell, president and CEO of SensorLogic, in a statement.

Campbell said that the company’s service delivery platform makes it a disruptive force for carriers, enterprises and other partners.

“This round of funding, along with the recent additions to our executive team, positions us strongly to extend our leadership position,” he said.

The financing round was led by Sevin Rosen Funds and Boston Millennia Partners. Current investors UPS Strategic Enterprise Fund and Covera Ventures also participated.

Dave McLean, a general partner at Sevin Rosen said that this has always been a big market but, up until now, it has been far too complex and fragmented for the mainstream.

McLean said that over the last 18 months, SensorLogic has emerged with a unique asset management platform and business model for the heart of the enterprise.

He said that with its recent customer wins, ecosystem partnerships and significant additions to the management team, the investor group is excited about the company's future.

Meanwhile, the company also named Brian Alton as chief financial officer. Alton is a seasoned CFO with more than 20 years of diverse financial and operational leadership experience in technology and entrepreneurial firms, including start-ups, high-growth and turnaround companies.

“Brian's proven track record in helping to build successful companies has already proved valuable to SensorLogic,” said Campbell. “I welcome his acumen and insight and look forward to working with him to help make SensorLogic the most highly valued business in this market,” he said.


Anil Sharma is a contributing editor for IoTevolutionworld. To read more of his articles, please visit his columnist page.

Edited by Jaclyn Allard

IoTevolutionworld Contributor

SHARE THIS ARTICLE
Related Articles

IoT Partnership: Uponer and Belkin Join Forces to Build Phyn

By: Ken Briodagh    5/27/2016

The partnership trend gows ever more solid and promising every day, and the newest evidence comes in the form of a new intelligent water management sy…

Read More

Back to Basics: RFID and the IoT

By: Chrissie Cluney    5/24/2016

Companies seeking to engage in data collection for the IoT would be well served by remembering such simple technological solutions as RFID.

Read More

John Deere to Field Factory Upgrade with Telit

By: Ken Briodagh    5/18/2016

John Deere, the greenest of all tractor and outdoor equipment companies, has selected Telit, a IoT implementation company, to implement its deviceWISE…

Read More

IoT Partnership Economy Grows with myDevices and Actility Team Up

By: Ken Briodagh    5/11/2016

Actility, a Low Power Wide Area Network (LPWAN) devleoper, and myDevices, maker of the Cayenne IoT project builder, on May 10 announced a technology p…

Read More

Verizon Selects Gemalto for 4G LTE Services

By: Ken Briodagh    5/9/2016

The IoT Partnership economy just keeps growing and progressing, which I support because it makes me look like I know what I'm talking about. To contin…

Read More