Cellular IoT Connectivity Provider EMnify Raises $57M (€50M) in Series B Funding from One Peak
Capital will accelerate EMnify’s global expansion and push forward the development of its proprietary borderless cellular IoT technology
EMnify, the leading cloud-based platform for cellular connectivity in the modern Internet of Things (IoT) stack, announces a $57 million Series B investment from London-based growth investor One Peak. The Berlin-based company will use the new capital to accelerate its global market expansion, with a particular focus on the US, and to further develop and optimize its proprietary industry leading cellular IoT technology. Capitalizing on its growth momentum to date, the company plans to further expand its leadership team and double its headcount in 2022 by hiring the best global talent, with a focus on the technology and go-to-market functions in the DACH region and North America.
EMnify equips thousands of customers with secure, reliable, and borderless cellular IoT connectivity for millions of connected devices. The company reported a 2016-21 CAGR of 190% for SIM growth and 77% for revenue growth.
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The EMnify API and SIM technologies connect and secure any kind of IoT deployment to its application back-end. Its cloud-native integrations and no-code workflows ensure seamless lifecycle scalability for deployments of all sizes – from local start-up to global enterprise.
Far out-performing industry standards, the EMnify IoT Supernetwork is the single biggest independent IoT network of its kind. It supports local access (2G – 5G, LTE-M, NB-IoT) to over 600 radio network operators – 397 in direct partnerships – in almost 200 countries from more than 25 cloud regions, with plans to add an additional 10 cloud regions in 2022.
“In One Peak, we are not only gaining an investor, but a well-matched strategic partner with expertise in European founded SaaS scale-ups set for global growth. EMnify has come a long way in a short period of time and is perfectly positioned to use this capital and accelerate our market expansion and product development globally, with particular focus on the US market, where we already have 20 percent of our global customer base, representing over 30 percent of our revenues” emphasized Frank Stoecker, CEO and co-founder of EMnify. “We are excited to help many more companies of all sizes connect, secure and scale their IoT solutions worldwide.”
“The global cellular IoT market is approaching an inflection point as the need for location independent real-time data is greater than ever, while diminishing module sizes and deployment costs enable an abundance of use cases. EMnify is paving the way to meet the demand for global borderless connectivity to be available as a cloud native resource analogue to other existing components of a modern technology stack”, commented David Klein, Managing Partner at One Peak. “We have been hugely impressed with EMnify’s strong and capital efficient growth trajectory, its disruptive best-in-class technology stack, and its world class founding team. We believe the company has all the ingredients in place to become the global standard in cellular IoT connectivity and look forward to supporting EMnify during its next phase of explosive growth.”
To date, EMnify has raised $80 million (€70 million) in equity capital. Its disruptive software platform and customer-centric approach are made possible by over 110 full-time international IoT experts that are helping fast-growing IoT companies from 70 countries to scale their solutions in more than 140 markets.
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