Arrayent said Tuesday that it has closed $11.9 million in Series B funding. DCM Ventures led the round with participation from Intel Capital. Based in Redwood City, Calif., Arrayent is a provider of virtualization technology for the Internet of Things.
Arrayent (www.arrayent.com), a leader in virtualization technology for the Internet of Things, today announced its Series B Funding Round led by DCM Ventures, with participation from Intel Capital.
“Arrayent is in a very strong position with a fundamentally unique and differentiated approach to the Internet of Things,” said Shane Dyer, founder and CEO of Arrayent. “This latest round of funding will allow us to expand our platform and continue to grow our customer base within strategic global markets.”
Leveraging the power of the cloud to make connected consumer devices for the home less complex and more affordable, Arrayent’s technology is enabling manufacturers of consumer products, retailers and service providers to strengthen their relationships with consumers.
Jason Krikorian, general partner at DCM Ventures, said, “We are extremely compelled by Arrayent’s cloud-oriented architecture. With it, it’s no longer true that to provide sophisticated connectivity, device complexity must unduly escalate. An architecture like Arrayent’s is key to the Internet of Things delivering on its massive promise, and global consumer brands are recognizing that.”
Arrayent provides a platform upon which companies can build a wide range of compatible connected products so that home appliances can be controlled with a single smart phone application. Some of Arrayent’s customers include Whirlpool, Pentair, First Alert and Chamberlain as well as leading U.S. retailers. In Europe, the company is also partnered with SALUS Controls plc, a leading supplier of thermostats.
“Arrayent enables manufacturers, retailers and service providers to deliver smarter, connected consumer products,” said Arvind Sodhani, president of Intel Capital and Intel executive vice president. “By shifting the complexity of software and connectivity to the cloud, Arrayent is helping companies fulfill the potential of the Internet of Things.”
About Arrayent, Inc.
Arrayent, Inc. empowers consumer brands to deliver superior, affordable and smart-connected products that make life safer, easier – better. Trusted by leading companies across the globe, Arrayent’s unique virtualization technology is propelling the Internet of Things by allowing customers to cost-effectively add connectivity that enhances products and cultivates relationships with consumers.
The strength of Arrayent’s technology is best demonstrated through the success of its customers’ products. Case studies from companies such as Mattel, Maytag Commercial Laundry®, LiftMaster, Monster and Whirlpool Corporation are available at www.arrayent.com/case-studies.
To learn how Arrayent can help bring connectivity to your products, visit www.arrayent.com or call (650)260-4520. Follow Arrayent on Twitter at @Arrayent or on Facebook.
About DCM Ventures
DCM is an early stage venture capital firm based in Silicon Valley, Beijing and Tokyo with more than $2 billion under management. DCM has investments in more than 200 technology companies across the United States and Asia and provides hands-on operational guidance and a global network of business and financial resources. DCM has backed industry-leading companies such as 51job, About.com, Clearwire, eDreams, Foundry Networks, Kabu.com, Sling Media, SMIC, and VanceInfo. Recent successes (IPOs and M&As) include China-based 58.com, Renren, BitAuto, Dangdang, Luxin and Vipshop; Japan-based Pokelabo (GREE) and StarFlyer and U.S.-based Fortinet, PGP (Symantec) and SandForce (LSI).
About Intel Capital
Intel Capital, Intel’s global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11 billion in over 1,322 companies in 54 countries. In that timeframe, 204 portfolio companies have gone public on various exchanges around the world and 336 were acquired or participated in a merger. In 2012, Intel Capital invested US$352 million in 150 investments with approximately 57 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.