Tile Ships Two Million Units & Raises Additional VC Funding from Khosla Ventures
SAN MATEO, Calif., June 9, 2015 /PRNewswire/ -- Today, Tile, the company helping people never lose anything ever again, announced a number of business milestones as it nears its two-year crowdfunding anniversary, including Series A extension funding from Khosla Ventures. The company has grown significantly in all capacities since its inception and is announcing today that it has shipped 2 million Tiles. Tile has recently expanded into Canada, the UK, New Zealand and Australia; and scaled up its hiring to now triple what it was one year ago. Together, these milestones speak to the company's expansion and highlight the growing community of Tile members around the world.
"Growing a successful company depends on having the right partners, which is why we are proud to announce our relationship with Khosla," said Mike Farley, CEO and Co-founder, Tile. "This funding allows us to continue scaling to meet the needs of our growing community, introduce exciting new products and, ultimately, expand the Tile platform to meet new needs."
The $3 million investment from Khosla comes as an extension to Tile's successful $13 million Series A round, led by GGV Capital.
"Investing in Tile was an obvious choice. They are leading the way as the first mass market IoT company and shaping this new product category," said Keith Rabois, partner at Khosla Ventures. "While others are still imagining the possibilities of connected devices, Tile has already sold over two million devices, connecting to people's most valuable possessions. We see great potential in Tile and look forward to working with their growing team."
In addition to funding, Tile announced that it has tripled the number of its employees in just the past year, attracting engineering, sales and customer service talent from leading companies such as Google, Pandora, Tinder, Jawbone, Shazam, Meraki, Athleta, Williams & Sonoma, TripIt and LeapFrog. Specific recent hires include Kathleen Cronin, Head of Channel Marketing, who comes to Tile from Williams & Sonoma; and Scott Arrieta, Head of Customer Care, who comes to Tile from Jawbone.
Tile's growing team is tasked with continuing the company's strong momentum and tackling a range of interesting technical challenges as the company continues to scale. In the two years since crowdfunding, the company has shipped more than two million Tiles and is helping people find 250,000 things a day across 214 countries and territories.
Tiles can be purchased on the company's website or through Amazon.
About Tile:
Tile is a tiny wearable for anything you never want to lose, and has created the world's largest lost and found network. Tiles are simple, sleek, and can be placed on valuable things like keys, wallets, purses, computers, and luggage to give users peace of mind knowing their items can always be found. It's fun, fast and easy to find your Tiled items by seeing its last known location, or playing Tile's distinctive melody. Members of the Tile community passively help one another by creating local search parties that effortlessly help find the stuff that somehow got away. Tile is based in San Mateo, CA and is on a mission to give everything in the world the ability to communicate and connect.
About Khosla Ventures
Khosla Ventures provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies. The firm was founded in 2004 by Vinod Khosla, co-founder of Sun Microsystems. With over four billion dollars under management, the firm focuses on a broad range of areas including consumer, enterprise, education, advertising, financial services, semiconductors, health, big data, agriculture/food, sustainable energy and robotics. Khosla Ventures is headquartered in Menlo Park, Calif.
Contact:
Molly Wade
(508) 864-1404
[email protected]
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SOURCE Tile
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