1NCE completes its largest funding round to date; the company has raised the equivalent of $160 million USD in total funding since 2017.
• 1NCE intends to broaden its product portfolio with a next generation Software as a Service (SaaS) platform, finalize global expansion of operations, and further grow its presence in the United States.
• The company is one of the fastest growing companies in IoT and operates the world’s largest privately run IoT network in the cloud.
1NCE, one of the fastest growing providers of IoT software and connectivity, today announced the completion of a $60 million USD funding round.
Read More on CIO Influence: AI-Augmented Risk Scoring in Shared Data Ecosystems
1NCE offers a software platform for connected products to more than 24,000 customers managing 30 million devices across 170+ countries. Since launching in the marketplace in 2018, the company has become an IoT industry disruptor by integrating connectivity as a component of its software platform. It currently operates the world’s largest IoT network in the cloud. 1NCE’s platform was recognized as the “Best Innovation in the Internet of Things” at the 2024 SaaS Awards.
Since 2017, 1NCE has raised the equivalent of $160 million USD from investors from five countries. 1NCE’s list of investors to date now includes Abacon Capital, Bell Canada, Deutsche Telekom, iSquared Capital, Kensington Capital Partners, SoftBank Corp., Vicenda Group AG, and members of the 1NCE Executive Team.
The funding round supports 1NCE’s plan to finalize its global expansion, which started in 2022 with a focus on the United States, APAC and LATAM. 1NCE now has team members working from 30 countries, with branches in 11 countries offering regional operations for sales, billing, distribution and warehousing. Coupled with a strong digital customer experience and support in 25 languages, 1NCE currently has a userbase from 50+ countries.
The company also intends to use a portion of the funding round proceeds to further grow its presence in the United States.
“The U.S. is our largest and fastest growing market, and we‘re expanding our American workforce to accelerate our momentum. 1NCE already delivers at an incredibly high quality with consistency and industry-defining endpoint availability of 99.97%. This funding further increases our ability to expand our competitive advantage across the world,” said Ivo Rook, Co-Chief Executive Officer of 1NCE.
1NCE also plans to leverage the new funding to broaden its product portfolio for use cases across dozens of industry verticals. The company is preparing the launch of its next generation platform to further cement 1NCE as one of the preeminent destinations for IoT. And for customers already using the 1NCE OS software for their AI projects, the company plans to launch new features soon. The company believes that AI growth will fuel adoption of IoT, with customers eager to ramp up data collection that strengthens their AI-driven engines.
Latest News: Tenable Appoints Eric Doerr as Chief Product Officer
“1NCE is a true global player in IoT with a variety of financial backers from the worlds of finance and telecom. Closing a strong round affirms that we are on the right track for continued success with our next generation SaaS platform,” said Alexander P. Sator, Founder and Co-Chief Executive Officer of 1NCE.
The company has continued to build out a seasoned team of leaders. 1NCE recently appointed telecom industry veteran Christoph Vilanek as Chairman of the Advisory Board. Since 2009, he has served as the Chief Executive Officer at Freenet, one of the largest telecom companies in Europe.
[To share your insights with us, please write to psen@itechseries.com]
