Evrythng Secures $24.8M to Power IoT-Driven Product Digitization
Series B Funding Fuels Enterprise IoT Expansion
New York-based Internet of Things (IoT) platform provider Evrythng has successfully raised $24.8 million in a Series B funding round. The investment was led by Sway Ventures, with participation from Generation Ventures and Bloc Ventures. This latest capital injection brings Evrythng’s total funding to date to over $39 million.
From Stealth Startup to IoT Powerhouse
Founded in 2011 and launched from stealth in 2012, Evrythng has established itself as a leader in product digitization solutions. The company’s platform enables brands to:
- Connect physical consumer products to the internet
- Gather real-time usage data
- Create direct digital relationships with end-users
- Enable new IoT-driven business models
Strategic Growth Plans
The new funding will accelerate Evrythng’s expansion through:
- Strategic enterprise partnerships
- Team expansion across its New York, London, and San Francisco offices
- Enhanced development of its IoT platform capabilities
“The digitization of products to drive data intelligence is now mission-critical for modern businesses,” emphasized Niall Murphy, Evrythng’s co-founder and CEO. “This funding validates both our progress and the growing enterprise adoption of IoT technologies.”
The Booming IoT Investment Landscape
Evrythng’s funding comes amid significant momentum in IoT investments:
- Sigfox’s $160 million raise (2016)
- Thalmic Labs’ $120 million funding
- Jawbone’s $165 million round
- Nokia’s $192 million acquisition of Withings
The company joins other IoT platform providers like Particle, which recently secured $10.4 million, in competing to become the essential connective layer between physical products and digital ecosystems.
Investor Confidence
Evrythng’s investor roster includes industry heavyweights:
- Cisco Investments
- Samsung Ventures
- Atomico
Many of these investors participated in both current and previous funding rounds, demonstrating continued confidence in Evrythng’s vision and execution.
With 58 employees across three continents, Evrythng is positioned to capitalize on the growing enterprise demand for IoT solutions that bridge the physical-digital divide.
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