IoT Platform Provider Lands $60 Million in Funding

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Ayla Networks will use the Series D funding to further expand product capabilities to help large enterprises extract IoT data and transform it into BI.

Text on blackboard with money - FundingIoT platform-as-a-service provider Ayla Networks has raised $60 million in Series D financing. The company announced the funding was led by by Run Liang Tai Fund (RLT) and Sunsea Telecommunications Co. Ltd.

The company use the funding to expand its product offerings to help large businesses collect IoTdata and turn it into business intelligence. The company also plans to expand its network of partners and app providers.

Safer and smarter devices

“Ayla has amassed more than 100 large enterprise customers by solving their challenges regarding how to securely connect, manage and apply intelligence to all of their connected devices and sensors,” said David Friedman, Ayla CEO and co-founder.

[ Related: Industrial IoT Risks You Shouldn’t Ignore ]

“The Ayla platform blends critical capabilities related to security, privacy, data policy and management with a massively configurable capability for our customers to ingest data from any sensor and IoT cloud,” Friedman said. The platform makes it easier for enterprises to apply intelligence and analytics to broad sets of heterogeneous data sets to transform the data into real business value.”

Ayla expands its reach

According to Friedman, the company’s initial focus has been in the HVAC, water management, home control and small and large appliance markets. Recently they’ve begun expanding into the medical, retail, industrial and telco/service provider markets as well.

[ Related: Four Keys to Enterprise IoT Architecture ]

Ayla is partnering with Sunsea Communications as part of the funding round. Sunsea is a public company in the Chinese telecommunications market that is looking to expand it’s reach in the Chinese IoT market. To that end, Ayla and Sunsea are forming a joint venture called Ayla Sunsea that will offer Ayla’s IoT services to customers in China.

Sue Walsh

About Sue Walsh

Sue Walsh is News Writer for RTInsights, and a freelance writer and social media manager living in New York City. Her specialties include tech, security and e-commerce. You can follow her on Twitter at @girlfridaygeek.

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