Arrayent Completes $15 Million Series C Funding Round as ORIX Ventures Joins Investors DCM Ventures, Intel Capital, Opus Capital, and Comerica Bank
The world’s leading IoT platform will add to the more than sixty connected consumer products being sold in online and retail locations around the globe
SAN FRANCISCO, Jan. 21, 2016 /PRNewswire/ — Arrayent, the IoT platform company that helps the world’s most trusted brands develop and deliver connected products, completed its $15m Series C funding round as ORIX Ventures joins previously announced investors, DCM Ventures, Intel Capital, Opus Capital, and Comerica Bank.
“We’re extremely pleased to add ORIX Ventures to the list of prestigious investors that participated in our Series C funding round. We had a great year in 2015 with our Arrayent Connect IoT platform now supporting the development and delivery of more than sixty connected consumer products from brands like Whirlpool, Maytag, Chamberlain, Liftmaster, OSRAM, Monster Products, and Pentair. Arrayent-supported connected products are available at bricks and mortar and online retailers on four continents around the globe,” said Cyril Brignone, CEO of Arrayent. “With funding support from DCM Ventures, Intel Capital, Opus Capital, and now ORIX Ventures, we will build on our momentum as we bring Arrayent Connect to more brands and more products in 2016,” added Brignone.
Arrayent customers such as Whirlpool, Maytag, Chamberlain, Liftmaster, OSRAM, Braeburn, Salus, and Pentair rely on the Arrayent Connect Platform to deliver simple, secure, and connected user experiences for a wide variety of use cases. At CES 2016 last week in Las Vegas, Nevada, Arrayent showcased the first connected P&G Febreze product. The new connected version of Febreze leverages Arrayent Connect’s integration with the Works with Nest framework to provide users scheduling capabilities, personalized scent control, and path lighting. In addition, the connected Febreze product automatically detects room temperature and humidity and can sync scent release with air flow (HVAC) for better, more even coverage.
“We’ve shown how adding connectivity and the ability to control consumer products, including garage doors, lighting, security, and heating products with smart phones can dramatically improve the consumer experience while creating new distribution channels for our customers,” said Brignone. “With this $15 million investment, we are looking forward to expanding the number of use cases Arrayent enables as we continue to add new customers in 2016.”
“What initially attracted us to Arrayent was their success with prominent consumer brands. Connected consumer products is a very large potential market that has to date been short on results. We believe Arrayent is the most promising IoT platform company to support global brands’ connected products at scale and across multiple geographies. This round of funding will help enable Arrayent to further expand their already impressive customer list and scale their business at an accelerating pace,” said Jeff Bede, Managing Director and Co-Head of ORIX Ventures.
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.
The Arrayent name, logo and Arrayent Connect™ are trademarks of Arrayent Inc.
ORIX Ventures specializes in designing highly customized financing solutions for high growth companies with investments starting around $5 million and growing to $50 million. The team has committed over $1 billion to more than 100 companies. ORIX Ventures is a business unit of ORIX USA (www.orix.com), a Dallas-based financial services firm known for providing innovative capital solutions that clients need to propel their business to the next level. With more than 500 employees spanning 20 offices across the U.S. and Brazil, ORIX USA and its family of companies hold $6 billion of assets and manage an additional $29 billion, approximately. Its parent company, ORIX Corporation, is a Tokyo-based, publicly owned international financial services company with operations in 36 countries and regions worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX). For more information on ORIX Ventures, visit www.orix.com/ventures.