BERLIN, Oct. 9, 2019 /PRNewswire/ -- EMnify, one of the world's fastest growing SaaS companies in the IoT sector, has announced the finalization of a Series A financing of 8 million euro today. Most of the investment was committed by EMnify's existing shareholders, many of them with a technology background. As a result, the tech startup based in Berlin and Würzburg has now been financed with a total of 20 million euro since 2015.
EMnify operates with a rapid growth business model and has a high level of customer loyalty with a Net Dollar Retention (NDR) rate well above 140 percent. The technology is available in more than 180 countries. Customers worldwide trust EMnify's SaaS solution to securely operate their IoT data networks. EMnify's technology is used across a wide range of industries in many different ways. It is for example an important building block for the shared mobility sector. EMnify has a worldwide customer base exceeding 1,000 and is enabling some of the world's fastest growing IoT Communication Service Providers such as 1nce, BICS and Telecom Liechtenstein.
The current funding will support EMnify's international sales and marketing expansion activities as part of the global roll out of its cloud native cellular connectivity integration with Amazon AWS, Microsoft Azure and Google Compute Engine, among others. More details will be announced at the IoT Solutions World Congress in Barcelona October 29-31.
Frank Stöcker, CEO and Co-Founder of EMnify, stated: "EMnify is experiencing very strong growth and with the fresh capital we want to accelerate this trend by taking the necessary investments to further expand our sales and marketing activities to execute our go-to-market strategy."
EMnify Chairman of the Board, Lars Singbartl, stated: "This new financing round demonstrates the confidence investors have in the EMnify team and business model. Most of the investors themselves are in the technology sector. They recognized EMnify's great potential early on and are now enabling further scaling with their investment."
EMnify is a Software-as-a-Service (SaaS) company revolutionizing the mobile Internet of Things (IoT). EMnify's connectivity management service provides mobile network operators, enterprises, and developers globally with technology connecting 'things'. EMnify was the first company to develop and operate a mobile core network infrastructure as a native cloud service. This enables connectivity in a secure, reliable and scalable way. As a result, EMnify is leading the way to a future without communication barriers. EMnify is available in more than 180 countries worldwide. More than 1,000 customers use EMnify's technology to create innovative and connected business models and IoT applications.
EMnify was founded in 2014 by Frank Stöcker, Martin Giess and Alexander Schebler. Today, the company employs 85 people with more than 25 nationalities at its offices in Würzburg and Berlin. The company is financed with 20 million euro by a group of private technology investors. More information: www.emnify.com