emnify, one of the world's fastest growing SaaS companies in the IoT sector, has announced the finalization of a Series A financing of 8 million euro today. Most of the investment was committed by emnify's existing shareholders, many of them with a technology background. As a result, the tech startup based in Berlin and Würzburg has now been financed with a total of 20 million euro since 2015.
emnify operates with a rapid growth business model and has a high level of customer loyalty with a Net Dollar Retention (NDR) rate well above 140 percent. The technology is available in more than 180 countries. Customers worldwide trust emnify's SaaS solution to securely operate their IoT data networks. emnify's technology is used across a wide range of industries in many different ways. It is for example an important building block for the shared mobility sector. emnify has a worldwide customer base exceeding 1,000 and is enabling some of the world's fastest growing IoT Communication Service Providers such as 1nce, BICS and Telecom Liechtenstein.
The current funding will support emnify's international sales and marketing expansion activities as part of the global roll out of its cloud native cellular connectivity integration with Amazon AWS, Microsoft Azure and Google Compute Engine, among others. More details will be announced at the IoT Solutions World Congress in Barcelona October 29-31.
Frank Stöcker, CEO and Co-Founder of emnify, stated: "emnify is experiencing very strong growth and with the fresh capital we want to accelerate this trend by taking the necessary investments to further expand our sales and marketing activities to execute our go-to-market strategy."
emnify Chairman of the Board, Lars Singbartl, stated: "This new financing round demonstrates the confidence investors have in the emnify team and business model. Most of the investors themselves are in the technology sector. They recognized emnify's great potential early on and are now enabling further scaling with their investment."
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About emnify
emnify is the leading cloud building block for cellular communications in the IoT stack, connecting millions of IoT devices globally – from electric vehicles to energy meters, alarm systems to GPS trackers, thermometers to health wearables. The emnify API and SIM technology connect and secure any kind of IoT deployment to its application back-end. emnify’s cloud-native integrations and no-code workflows ensure seamless lifecycle scalability for deployments of all sizes – from local start-up to global enterprise. The award-winning emnify IoT SuperNetwork is the largest globally distributed mobile cloud core network of its kind, supporting local network access (2G – 5G, LTE-M, NB-IoT and soon satellite) in over 180 countries from more than 25 cloud regions – and counting. emnify’s solution is built on partnerships with the leading hyperscale cloud service providers, system integrators, and hundreds of radio network operators worldwide.
