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Enterprise IoT Platform Losant Closes $5.2 Million in Series A Financing

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02/14/2018 | 02:21pm CET

New capital will enable Losant to scale to meet growing demand for its next generation IoT solutions

Losant, an enterprise Internet of Things platform that makes building real-time connected solutions simple, has raised $5.2 million in Series A financing from new and existing investors. CincyTech led the round with participation from Revolution’s new Rise of the Rest® Seed fund, TechNexus, and Vine Street Ventures.

With digital information transforming every business and industry, Losant helps companies-- including Verizon, Bosch, and Hewlett Packard Enterprise-- build connected solutions that allow leaders to make decisions based on meaningful, real-time data.

“We’re excited to see our platform power intelligent solutions across a gamut of industries and use-cases. Our customers are pushing new boundaries in industrial equipment monitoring, asset tracking, smart buildings, and more. With endless possibilities, Losant is uniquely positioned to help thousands of companies in their IoT journey,” said Charlie Key, CEO of Losant.

“Connected experiences are going to transform business and personal experiences for all of us in the next decade,” said Mike Venerable, CEO of CincyTech. “Billions, not millions, of connected devices are being deployed across all domains. Losant's reliable and scalable platform for IoT is being used in an accelerating number of scenarios that represent the connected future.”

The investment is one of the first from Revolution’s Rise of the Rest® Seed fund, a $150-million fund, led by Steve Case and JD Vance, to make early stage investments in startups outside of Silicon Valley. The Rise of the Rest Seed fund is backed by a group of iconic entrepreneurs, executives and investors.

Said JD Vance, Rise of the Rest Seed fund Managing Partner, “Losant’s use of next generation IoT solutions has the potential to change every industry and business and the fact that it’s a promising Ohio-grown startup makes it that much more exciting. We are thrilled to invest in Losant alongside CincyTech, who has been helping entrepreneurs build successful technology companies in southwest Ohio for a decade.”

ABOUT LOSANT

Losant is an easy-to-use and powerful enterprise IoT platform designed to help teams quickly and securely build complex real-time connected solutions. Losant uses open communication standards to provide connectivity from one to millions of devices and provides powerful data collection, aggregation, and visualization features to empower enterprise teams with new data insights. Edge features are integrated directly into the Losant IoT platform for seamless integration of connected and non-connected devices. Start independently or work with Losant’s experienced solution engineers. www.losant.com @LosantHQ.

ABOUT CINCYTECH

CincyTech transforms innovation into high performing life science and digital companies in Southwest Ohio. Our team provides advice and capital to entrepreneurs, helps research institutions commercialize technology through startups, and catalyzes investment from individuals and institutions into regional companies.


© Business Wire 2018
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