Cellular IoT Connectivity Provider EMnify Raises $57M (€50M) in Series B Funding from One Peak

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BERLIN, Jan. 20, 2022 /PRNewswire/ -- EMnify, the leading cloud-based platform for cellular connectivity in the modern Internet of Things (IoT) stack, today announces a $57 million Series B investment from London-based growth investor One Peak. The Berlin-based company will use the new capital to accelerate its global market expansion, with a particular focus on the US, and to further develop and optimize its proprietary industry leading cellular IoT technology. Capitalizing on its growth momentum to date, the company 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.

EMnify equips thousands of customers with secure, reliable, and borderless cellular IoT connectivity for millions of connected devices. The company reported a 2016-21 CAGR of 190% for SIM growth and 77% for revenue growth.

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 start-up to global enterprise.

Far out-performing industry standards, the EMnify IoT Supernetwork is the single biggest independent IoT network of its kind. 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.

"In One Peak, we are not only gaining an investor, but a well-matched strategic partner with expertise in European founded SaaS scale-ups set for global growth. 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, with particular focus on the US market, where we already have 20 percent of our global customer base, representing over 30 percent of our revenues," emphasized Frank Stoecker, CEO and co-founder of EMnify. "We are excited to help many more companies of all sizes connect, secure and scale their IoT solutions worldwide."

"The global cellular IoT market is approaching an inflection point as the need for location independent real-time data is greater than ever, while diminishing module sizes and deployment costs enable an abundance of use cases. EMnify is paving the way to meet the demand for global borderless connectivity to be available as a cloud native resource analogue to other existing components of a modern technology stack," commented David Klein, Managing Partner at One Peak. "We have been hugely impressed with EMnify's strong and capital efficient growth trajectory, its disruptive best-in-class technology stack, and its world class founding team. We believe the company has all the ingredients in place to become the global standard in cellular IoT connectivity and look forward to supporting EMnify during its next phase of explosive growth."

To date, EMnify has raised $80 million (€70 million) in equity capital. Its disruptive software platform and customer-centric approach are made possible by over 110 full-time international IoT experts that are helping fast-growing IoT companies from 70 countries to scale their solutions in more than 140 markets.

About One Peak

One Peak is a growth equity firm investing in technology companies in the scale-up phase. One Peak provides growth capital, operating expertise and access to its extensive network to exceptional entrepreneurs, with a view to help transform innovative and rapidly growing businesses into lasting, category-defining leaders. In addition to EMnify, One Peak's investments include Neo4j, DocPlanner, Spryker Systems, PandaDoc, Keepit, Cymulate, Paysend, HighQ, Quentic, Coople, DataGuard, Brightflag and many more. To learn more, visit www.onepeakpartners.com.

About EMnify

EMnify is the leading cloud building block for cellular communications in the IoT stack, connecting millions of IoT devices globally – from electric vehicles to energy meters, alarm systems to GPS trackers, thermometers to health wearables.

The EMnify API and SIM technology connect and secure any kind of IoT deployment to its application back-end. EMnify's cloud-native integrations and no-code workflows ensure seamless lifecycle scalability for deployments of all sizes – from local start-up to global enterprise.

The EMnify IoT Supernetwork is the largest globally distributed mobile cloud core network of its kind, supporting local network access (2G – 5G, LTE-M, NB-IoT) in over 195 countries from more than 25 cloud regions – and counting. EMnify's solution is built on partnerships with the leading hyperscaler cloud service providers, system integrators and hundreds of radio network operators worldwide. 

Founded in 2014, EMnify was the first to transform cellular IoT connectivity into an easy-to-consume cloud resource – trusted today by thousands of the world's most innovative companies. To learn more about EMnify, please visit www.emnify.com  

SOURCE EMnify