SAN FRANCISCO, Sept. 22, 2015 /PRNewswire/ — Arrayent, the IoT platform company that helps the world’s most trusted brands deliver connected products, announced an $11 million funding round with participation from DCM Ventures, Intel Capital, Opus Capital, Comerica Bank, and several leading angel investors.
“We’re more excited than ever by the opportunity for Internet of Things-enabled connected products. Partnering with leading investors like, DCM Ventures, Intel Capital, and Opus Capital will help bring the Arrayent Connect Platform to more brands and more products, increasing Arrayent’s potential reach to hundreds of millions of consumers,” said Cyril Brignone, CEO of Arrayent.
Companies such as Whirlpool, Maytag, Chamberlain, LiftMaster, and Pentair already rely on the Arrayent Connect Platform to deliver simple, secure, and connected user experiences for a wide variety of use cases. “We’ve shown how adding connectivity and the ability to control garage doors, lighting, security, and heating products with smart phones can dramatically improve the consumer experience, while creating new distribution channels for our customers,” added Brignone. “With this new investment round, we will be able to increase the number of use cases Arrayent enables for existing customers and add many new customers in 2016.”
DCM Ventures General Partner Jason Krikorian said, “Arrayent’s market traction is unmatched, and this financing will aid further momentum. Arrayent’s customer list, with companies like Maytag, Pentair, Chamberlain, LiftMaster, Salus, Schumacher, Braeburn, and OSRAM is by far the industry’s best. Arrayent is the only company that is actually helping global brands deliver connected products at scale. These brands value the reduction of cost, time, and complexity in getting connected appliances and consumer products to market.”
“Arrayent provides a unique opportunity for consumer appliance and technology brands,” said Bob Shutt, Comerica Bank, Senior Vice President. “Their Connect Platform easily enables fully connected capabilities for appliances and devices, and that ultimately creates new sales channels and markets for Arrayent’s customers. Arrayent’s platform is comprehensive in how it addresses connectivity, security, and delivery.”
ABOUT ARRAYENT, INC.
Arrayent’s Connect Platform enables major consumer brands to transform traditional products into connected devices that make life safer, more convenient and better for users. Companies across the globe choose Arrayent to cost effectively add Internet connectivity to their products and cultivate a closer relationship with their customers. A Gartner Cool Vendor for the IoT space, Arrayent provides connected product capability to leading brands, such as Whirlpool, Pentair, Maytag Commercial Laundry®, Salus, OSRAM, Braeburn, Schumacher, Chamberlain, LiftMaster, Monster Products and Mattel, among many others.