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 TMCnet. To read more of his articles, please visit his columnist page.
Edited by Jaclyn Allard