# Particle Industries

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/particle-industries

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.particle.io
- Total disclosed funding: $108M
- Latest round: Series C (Dec 12, 2022)
- Investors on record: 13

## About

Particle Industries, Inc. specializes in providing an integrated IoT Platform-as-a-Service, offering hardware, software, and connectivity solutions for various Internet of Things applications.Founded in 2012, Particle Industries, Inc. is headquartered in San Francisco, US, and offers solutions for IoT connectivity. The company has raised a total of USD 30.00 mn in funding through several rounds, with the latest being a Series C round of USD 30.00 mn completed in December 2022, led by SOSV. The founders include Philip Eytan, Shweta Gupte, Zach Supalla, and Zachary Crockett, with Zach Supalla currently serving as CEO.Particle offers an integrated IoT Platform-as-a-Service that provides a comprehensive suite of hardware, software, and connectivity solutions designed for various applications in the Internet of Things (IoT) space. Their core products include the Particle Device Cloud, which enables remote management and interaction with connected devices, and a range of development kits and hardware such as the Gen 4 MCU and Gen 5 5G SBC. These products are specifically engineered to facilitate the deployment, monitoring, and management of intelligent devices. Particle's solutions serve diverse markets including industrial equipment monitoring, smart energy management, and logistics, with clients ranging from startups to established enterprises across North America, Europe, and Asia. The platform supports numerous data integrations and communication protocols, ensuring connectivity that accommodates the needs of various sectors, including telecommunications and energy.Particle operates on a subscription model primarily through partnerships with businesses and developers utilizing its IoT platform. Clients typically engage with the company by subscribing to their service offerings, which may include access to cloud-based tools, over-the-air software updates, and device management capabilities. The transaction structure involves direct B2B interactions, where clients pay for access to Particle's technology based on the specific solutions they utilize. Businesses may subscribe to services that encompass hardware devices integrated with Particle's software for streamlined operational management. The pricing plans are tiered to cater to different use cases, reflecting the varying scales and complexities of customer needs, which allows for flexibility in deploying IoT solutions across numerous applications.In December 2022, Particle Industries, Inc. secured a Series C funding round which will be utilized to enhance product development and expand their market reach. The company is planning to introduce new products tailored for specific IoT applications, although no specific release dates have been disclosed. Additionally, plans are underway to expand into new geographic markets including Europe and Asia by 2024, focusing on increasing their presence in these regions to tap into the growing demand for IoT solutions.

## Funding rounds

- Series C, Dec 12, 2022 — Alumni Ventures Group
- Series C, Nov 15, 2021, $30M — SOSV
- Series C, Aug 6, 2019, $40M — Industry Ventures, Spark Capital, Indie Enterprises, Qualcomm Ventures, SOSV, Root Ventures, Alumni Ventures Group, Energy Impact Partners, Bonfire Ventures, Counterpart Ventures
- Series B, May 23, 2018, $7.7M — Spark Capital, Rincon Venture Partners, Qualcomm Ventures, Root Ventures
- Series B, Jul 19, 2017, $15M — Spark Capital, Rincon Venture Partners, Qualcomm Ventures, Root Ventures
- Series A, Nov 17, 2016, $10M — Indie Enterprises, Rincon Venture Partners, SOSV, Root Ventures
- Series A, Dec 9, 2014 — Heavybit
- Series A, Jul 8, 2014, $4.2M — Indie Enterprises, SOSV, Collaborative Fund, Root Ventures
- Seed, Jun 1, 2013, $0.7M — SOSV
- Seed, Jan 31, 2013, $0M — SOSV

## Investors

- SOSV (https://capitalatlas.ai/funds/sosv) — Seed, Series A, Series C
- Indie Enterprises (https://capitalatlas.ai/funds/indie-enterprises) — Series A, Series C
- Collaborative Fund (https://capitalatlas.ai/funds/collaborative-fund) — Series A
- Root Ventures (https://capitalatlas.ai/funds/root-ventures) — Series A, Series B, Series C
- Heavybit (https://capitalatlas.ai/funds/heavybit) — Series A
- Rincon Venture Partners (https://capitalatlas.ai/funds/rincon-venture-partners) — Series A, Series B
- Spark Capital — Series B, Series C
- Qualcomm Ventures (https://capitalatlas.ai/funds/qualcomm-ventures) — Series B, Series C
- Industry Ventures (https://capitalatlas.ai/funds/industry-ventures) — Series C
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series C
- Energy Impact Partners (https://capitalatlas.ai/funds/energy-impact-partners) — Series C
- Bonfire Ventures (https://capitalatlas.ai/funds/bonfire-ventures) — Series C
- Counterpart Ventures (https://capitalatlas.ai/funds/counterpart-ventures) — Series C