Salesforce leads $24 mln funding of IFTTT


San Francisco-based IFTTT, which provides a utility for users to connect their apps, services and smart devices, announced it has raised $24 million in new funding led by Salesforce Ventures. IBM, Chamberlain Group and Fenox Venture Capital also participated in the round. IFTTT, which stand for “If This, Then That,” was founded in 2010 and has now raised $63 million in total funding. Other investors include Andreessen Horowitz, Lerer Hippeau Ventures, New Enterprise Associates, Norwest Venture Partners and SV Angel.

PRESS RELEASE

IFTTT Raises $24M in Funding to Build a More Connected World

Salesforce Ventures, IBM, Chamberlain Group, and Fenox Venture Capital invest in IFTTT as company expands its consumer and developer platforms.

SAN FRANCISCO, CA — April 26, 2018 — IFTTT, the company on a mission to build a more connected world, today announces $24 million in funding led by Salesforce Ventures with participation from IBM, Chamberlain Group, and Fenox Venture Capital. The new capital will enable IFTTT to hire top talent to take on industry-changing initiatives and expand its  platform.

IFTTT is the only platform where consumers, developers, startups, and enterprises are collaborating to build  a more connected  world. As a result, IFTTT platform  customers have the opportunity to integrate with over 600 devices and apps, ranging from smart home to connected cars to social media services, opening up important connections across industries.

Companies recognize the potential of a more connected world, offering their clients personalized experiences and increasing business efficiency. With its new capital and investors, IFTTT will reach more industries and expand its role as the leading developer platform for the connected world.

“IFTTT is at the forefront of establishing a more connected ecosystem for devices and services. It’s a prime example of the amazing innovation and commitment to customer success that we look for in our portfolio companies,” said John Somorjai, Executive Vice President of Corporate Development and Salesforce Ventures, Salesforce.

“IBM and IFTTT are working together to realize the potential of today’s connected world. By bringing together IBM’s Watson IoT Platform and Watson Assistant Solutions with consumer- facing services, we can help clients to create powerful and open solutions for their users that work with everything in the Internet of Things,” said Bret Greenstein, Vice President, Watson Internet of Things, IBM. “Our work together is an important step to enable true interoperability between devices as IoT becomes pervasive across business and society alike.”

IFTTT has grown to more than 14 million consumers, more than 600 published services, and 75 million Applets turned on since its launch. With more than 5,000 active developers building services and more than 140,000 building new Applets on the IFTTT Platform, the company is positioned as an essential tool for a more connected world.

“Every business is undergoing a dramatic transformation into a digital service,” says IFTTT CEO Linden Tibbets. “We are on a mission to bring trust and compatibility to a future in which everything around us becomes a new app and another login. We could not be more excited to partner with our new investors, our passionate users, and every business working hard to become a service.”

For more information on IFTTT, visit https://ifttt.com

For more information on the IFTTT Platform, visit http://platform.ifttt.com

About IFTTT:

IFTTT gets all your apps and devices talking to each other. Not everything on the Internet plays nice, so we’re on a mission to build a more connected world. There are over 600 apps and devices including Google, Microsoft, Amazon, Twitter, BMW, Samsung, IBM, MyQ, and Verizon available on IFTTT. Customers of the platform are able to publish their services, build Applets, and embed them directly into their app or website for consumers.

Applets services together to create new experiences for consumers. Consumers can create Applets of their own or turn on existing Applets from their favorite products and brands.

Founded in 2010, IFTTT has raised $63 million in funding from top-tier investors including Andreessen Horowitz, Chamberlain Group, Fenox Venture Capital, IBM, Lerer Hippeau Ventures, NEA, Norwest Venture Partners, Salesforce Ventures and SV Angel.

About Salesforce Ventures:

Salesforce, the global leader in CRM, empowers companies to connect with their customers in a whole new way. Salesforce Ventures—the company’s corporate investment group—invests in the next generation of enterprise technology that extends the power of the Salesforce Intelligent Customer Success Platform, helping companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce’s expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 250 enterprise cloud startups in 14 different countries since 2009. For more information, visit http://salesforce.com/ventures.

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