Balena raises $14.4m to expand team and bring edge computing to every developer
Number of IoT devices managed on the platform growing by 4x year-over-year
SEATTLE, July 24, 2019 /PRNewswire/ -- Edge computing pioneers, balena, today announced a $14.4m Series B investment led by OpenView, with participation from existing investors including Threshold Ventures, Aspect Ventures, and GE Ventures.
Balena's mission is to unlock the potential of physical computing by removing friction for IoT fleet owners. The company's full-stack platform offers a complete end to end solution that makes it easy for every developer to build applications for IoT and the Edge.
Balena (formerly known as resin.io) was founded in 2013 by a team of developers who had experienced first-hand the frustration of deploying and managing fleets of connected devices. After realizing that nothing existed to meet their needs, they decided to build a platform for all IoT developers.
"We believe that edge computing is the next major computing paradigm, and it needs a scalable development platform to match. We're building that platform and making the edge accessible to mainstream developers," says balena CEO Alexandros Marinos.
The balena team has built the company with one question in mind: What does a mainstream developer need to succeed on the edge? One of the team's first key breakthroughs was getting Docker running on a Raspberry Pi. Since then, the company has built an entire container-based software platform for developing, deploying, and managing code on fleets of IoT devices. Balena has also recently released its first hardware product, the balenaFin, a carrier board for the Raspberry Pi Compute Module designed for professional IoT deployments.
"The edge has unique characteristics, including heterogeneous hardware, networking, and physical environments, that require a new platform, one that has been purpose-built from the ground up," says Marinos. "A platform with a complete set of tools that solve the intricate challenges faced by fleet owners - which is exactly what we've built."
Today, balena-powered devices are being used by customers around the world in everything from robotics and manufacturing to transport and building management. By enabling developers to scale their fleets quickly and easily, the company is growing the number of devices managed on the balena platform by nearly 4x year-over-year.
"From prototype to production, the next generation of edge applications are being built on balena. We couldn't be more excited to support their growth as they catalyze a new age in edge computing," says Mackey Craven, Partner at OpenView.
The new funding will be used to expand balena's capabilities and continue building products that make the connected world accessible to all. The company's aim is to become the default choice for developers building IoT projects.
Balena is also looking to expand its globally distributed team and is on the lookout for talented people across many areas of the business, from engineering and operations to growth, marketing and sales. If you're interested in helping to shape the future of IoT, check out balena's careers page.
About balena
Founded in 2013, balena helps companies develop, deploy, update, and manage IoT devices. Using Linux containers and other modern cloud technologies, balena enables developers to quickly and easily build fleets of connected devices. The company has offices in Seattle, London, Athens and Milan, with team members based worldwide. More information is available at https://balena.io
SOURCE Balena
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