With its cloud-based platform for cellular connectivity in the IoT stack EMnify has just secured a €50 million investment from One Peak.
Founded in 2014, the Berlin-based company is a leading cloud building block for cellular communications in the IoT (Internet of Things) stack, connecting millions of IoT devices globally – from electric vehicles and energy meters to GPS trackers and health wearables. EMnify develops and operates a mobile core network infrastructure as a native cloud service, enabling connectivity in a secure, reliable and scalable way.
In 2019, the company received €8 million in its Series A funding and has seen massive growth in the past couple of years, reporting a 77% revenue growth from 2016-2021.
The EMnify API and SIM technologies connect and secure any kind of IoT deployment to its application back-end. Its cloud-native integrations and no-code workflows ensure seamless lifecycle scalability for deployments of all sizes – from local startups to global enterprises.
The EMnify IoT Supernetwork is hailed as the single biggest independent IoT network of its kind, outperforming industry standards. It supports local access (2G – 5G, LTE-M, NB-IoT) to over 600 radio network operators (397 in direct partnerships) in almost 200 countries from more than 25 cloud regions, with plans to add an additional 10 cloud regions in 2022.
Securing this new funding brings the total funding raised by the disruptive software company to €70 million – an impressive total thanks to both its innovative tech and customer-centric approach. With over 110 full-time IoT experts, EMnify is able to support fast-growing IoT companies from 70 countries to scale their solutions in more than 140 markets.
Frank Stoecker, CEO and co-founder of EMnify, said: “EMnify has come a long way in a short period of time and is perfectly positioned to use this capital and accelerate our market expansion and product development globally.”
Thinking about expansion, the company has its focus firmly set on the US, which already represents 20% of its global customer base and 30% of its revenue. Market expansion will be accompanied by further developing and optimizing the company’s proprietary tech. In addition, EMnify plans to further expand its leadership team and double its headcount in 2022 by hiring the best global talent, with a focus on the technology and go-to-market functions in the DACH region and North America.