# Veniam Works

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/veniam-works

- Industry: Telecoms
- Headquarters: San Francisco, US
- Website: www.veniam.com
- Total disclosed funding: $27M
- Latest round: Series B (Nov 18, 2015)
- Investors on record: 9

## About

Veniam Works Inc. is a technology company focused on advanced data networking solutions for the Internet of Moving Things, enhancing connectivity for vehicles and IoT applications.Founded in 2012 in San Francisco, US, Veniam Works Inc. develops innovative data networking technologies for connected vehicles. The company was co-founded by João Barros and Susana Sargento, with João Barros serving as the CEO. Veniam has successfully completed a total of 3 deals, with the most recent being a Series B funding round of USD 22.00 mn led by Verizon Ventures on August 3, 2022. The total amount raised by the company is USD 22.00 mn, holding a current valuation of USD 75.92 mn.Veniam specializes in advanced data networking solutions designed for the Internet of Moving Things, offering a multi-network platform that facilitates the transfer of large volumes of data for applications such as video telematics, fleet operations, industrial IoT, and connected vehicles. Their primary products include a cloud platform, hardware components, and software development kits (SDKs) that enable seamless data transmission between vehicles and cloud infrastructures. End users include automotive manufacturers, transportation service providers, and municipalities, particularly in markets such as Europe and North America, where initiatives like Singapore’s Smart Nation initiative are being supported through their technology. Veniam’s solutions are aimed at enhancing operational efficiency and data management in various sectors, focusing on enabling thousands of vehicles, including buses and taxis, to function as a vehicle mesh network.Veniam's revenue model is primarily based on partnerships and subscriptions, offering clients access to its intelligent networking platform and associated services. Transactions generally occur through B2B relationships, where enterprise clients subscribe to Veniam’s services to facilitate data transfer and connectivity solutions for their fleets or IoT applications. Specific pricing structures for the services are determined based on the scale and complexity of the deployment, reflecting the needs of clients ranging from automotive OEMs to public transportation systems. Additionally, Veniam’s flagship products serve as integral components within customer operations, providing them with the technological framework necessary for real-time data management and analysis.Veniam plans to leverage its recent funding to further develop its product offerings and expand into new geographic markets. With the acquisition by Nexar, Inc., finalized in August 2022, Veniam aims to scale its data footprint and broaden its services for OEMs. The focus will be on enhancing their existing technology stack and exploring integrations that cater to emerging markets. As part of these initiatives, Veniam is expected to roll out new networking solutions tailored for specific applications in the connected vehicle and IoT sectors.

## Funding rounds

- Series B, Nov 18, 2015, $22M — Union Square Ventures, True Ventures, Caixa Capital Risc, Verizon Ventures, Liberty Global Ventures, Cisco Investments, Cane Investments, Orange Ventures, Yamaha Motor Ventures
- Series A, Aug 8, 2014, $4.9M — Union Square Ventures, True Ventures, Cane Investments

## Investors

- Union Square Ventures (https://capitalatlas.ai/funds/union-square-ventures) — Series A, Series B
- True Ventures (https://capitalatlas.ai/funds/true-ventures) — Series A, Series B
- Cane Investments — Series A, Series B
- Caixa Capital Risc — Series B
- Verizon Ventures (https://capitalatlas.ai/funds/verizon-ventures) — Series B
- Liberty Global Ventures (https://capitalatlas.ai/funds/liberty-global-ventures) — Series B
- Cisco Investments (https://capitalatlas.ai/funds/cisco-investments) — Series B
- Orange Ventures — Series B
- Yamaha Motor Ventures (https://capitalatlas.ai/funds/yamaha-motor-ventures) — Series B