Jasper said Wednesday that it has closed $50 million in financing. Temasek led the round. Based in Mountain View, Calif., Jasper is a cloud-based platform for the Internet of Things.
MOUNTAIN VIEW, CA–(Marketwired – Apr 16, 2014) – Jasper today announced a $50 million round of growth financing led by Temasek to enable the company to serve the surging demand from global enterprises and mobile operators for its Internet of Things (IoT) platform. Jasper was founded in 2004 to offer a cloud-based approach designed to enable enterprises to launch, manage and monetize IoT businesses. Today more than 1,000 companies manage millions of connected products and devices on the Jasper Platform. They are deployed across Jasper’s global operator partner network of 19 mobile operator groups representing over 100 network affiliates worldwide.
Service IT: Enabling Global Enterprises to Capitalize on the Benefits of IoT Technology
Most enterprises recognize the opportunities presented by a physical world that is becoming increasingly connected. As the IoT movement gains momentum, connected devices are the tools that help businesses establish a direct, always-on connection between themselves and the rest of the world. Connected devices are enabling companies to build stronger relationships with their customers and are becoming a conduit for new services, business models and sources of revenue. While the possibilities for delivering new benefits are endless, companies that embrace IoT quickly discover the need for a component essential to deploying and managing their IoT initiatives: Service IT.
Service IT is the software and systems required to build a successful IoT business. Jasper, a pioneer in the emerging category of Service IT, has spent nearly a decade building its IoT platform. Jasper delivers the real-time visibility and control that companies need to launch, manage and monetize a successful service business, all in a single, turnkey, cloud-based solution. An increasing number of industries are choosing Jasper to manage their IoT initiatives and enable capabilities critical to their business success, including mobile service management, real-time engagement, support diagnostics, billing and business automation.
“After nearly a decade partnering with enterprises and operators, we know one thing with absolute certainty: the Internet of Things is not about things, it is about service,” said Jahangir Mohammed, founder and CEO of Jasper. “We are seeing explosive growth in the number of Internet-connected devices, with many more billions anticipated by the end of the decade. And for over a thousand companies around the globe, these services are already made possible by our IoT platform. We make it easy to successfully deploy IoT service businesses.”
Jasper: Trusted by the World’s Most Innovative and Respected Brands
Jasper was founded with the vision of making it easier for companies to launch and build connected businesses that deliver new high-value services through real-time, ongoing customer engagement. Today, the Jasper Platform powers the IoT initiatives of more than 1,000 of the world’s most innovative companies, including Alarm.com, Air Liquide, Audi, Boston Scientific, Coca-Cola, Ford, Garmin, General Electric, General Motors, Honeywell, Nissan, Securitas and many others.
In the automotive industry, Jasper is working with major car manufacturers to connect automobiles. They are now delivering real-time traffic, weather, entertainment, and over-the-air maintenance services, opening up new revenue streams and business models.
In the healthcare and medical device industries, Jasper has helped leading brands to connect devices, patients, caregivers and healthcare professionals, optimizing treatment and delivering more effective service by rapidly gathering and communicating patient data.
The Jasper Platform is empowering the airline industry to connect jet engines to a centralized system, enabling real-time preventive maintenance and helping to reduce the loss of more than $8 billion in operational costs that result from flight delays and cancellations each year.
As a leading partner to mobile operator groups around the world, such as AT&T, America Móvil, SingTel, Telefónica and Telenor, Jasper helps bring new, profitable revenue streams to existing mobile businesses.
Companies across an increasing number of industries are seeking ways to transform their business in the era of the Internet-connected physical world. Jasper enables this transformation.
Capital Infusion to Drive Product Innovation
Jasper helps enterprises and operators capitalize on the IoT opportunity, bolstered by deep platform integration with major mobile operator partners across six continents, and the proven ability to scale and adapt to enterprises in more than 20 industry verticals.
The $50 million influx of capital will allow Jasper to accelerate innovation of its platform to further increase business value for enterprises and operators.
The new round is led by Temasek. Incorporated in 1974, Temasek is a global investment company headquartered in Singapore. Supported by 11 offices worldwide, Temasek owns a S$215 billion portfolio, with assets in Asia, North America, Latin America and Europe.
About Jasper Wireless, Inc.
Becoming a connected business means becoming a service business. And that’s where Jasper comes in. Jasper is the pioneer in cloud-based platforms for the Internet of Things (IoT) and the defining player in the Service IT category. The Jasper Platform empowers enterprises and mobile operators of all sizes to deploy successful IoT service businesses on a global scale. More than 1,000 companies, including many of the world’s top brands, have chosen Jasper to fast-track their connected businesses. Mobile operator groups worldwide, representing over 100 network affiliates, partner with Jasper.
Founded in 2004, Jasper is based in Mountain View, California. For more information, visit www.jasper.com or follow us on Twitter @Jasper__IoT.