Particle Scores $40M to Scale IoT Production Plans

The startup will build up its enterprise IoT suite and add to its enterprise and product teams with the money.

Dan Jones, Mobile Editor

November 1, 2019

1 Min Read
Particle Scores $40M to Scale IoT Production Plans

Startup Particle has raised $40 million to help fund its deployment of IoT hardware projects globally.

The San Francisco-based startup began in 2013. It offers a variety of WiFi, mesh and cellular hardware that can be used in IoT projects.

The company currently has 85 customers, including the Air National Guard; Opti (which runs storm water runoff management systems); and various micromobility companies (a.k.a. scooter sharing startups), such as Olulu and Shared Technologies.

Figure 1: Particle's Boron LTE developer kit for Cat-M. Particle's Boron LTE developer kit for Cat-M.

"Our success can be measured by our customers' growth; the average fleet of IoT products on our platform has grown by 70% since the beginning of the year, and our revenue has grown 150% year-over-year," writes CEO of Particle Zach Supalla in a blog post.

Lead investors in the $40 million Series C are Qualcomm Ventures and Energy Impact Partners. Previous investors that participated in this round include Root Ventures, Bonfire Ventures, Industry Ventures, Spark Capital, OATV, Green D Ventures, Counterpart Ventures and SOSV. The company has raised $81 million in total funding.

Supalla says that the money will be spent on developing the company’s enterprise IoT suite and building up its engineering and product teams. The company currently has 100 employees.

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— Dan Jones, Mobile Editor, Light Reading

About the Author(s)

Dan Jones

Mobile Editor

Dan is to hats what Will.I.Am is to ridiculous eyewear. Fedora, trilby, tam-o-shanter -- all have graced the Jones pate during his career as the go-to purveyor of mobile essentials.

But hey, Dan is so much more than 4G maps and state-of-the-art headgear. Before joining the Light Reading team in 2002 he was an award-winning cult hit on Broadway (with four 'Toni' awards, two 'Emma' gongs and a 'Brian' to his name) with his one-man show, "Dan Sings the Show Tunes."

His perfectly crafted blogs, falling under the "Jonestown" banner, have been compared to the works of Chekhov. But only by Dan.

He lives in Brooklyn with cats.

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