MILPITAS, Calif.--(BUSINESS WIRE)--Cloudleaf, a Silicon Valley Enterprise IoT startup, announced today that it has secured $13 Million Series A funding from IndusAge Partners, Bold Capital Partners, Tandem Capital, Mahindra Partners and other seasoned angel investors. This funding will power Cloudleaf’s innovation in IoT and bring its patented Sensor Fabric™ to market, enabling customers to easily digitize their enterprise operations. Cloudleaf’s mission is to allow its customers to know, in real time, where their assets are and the condition of those assets.
Cloudleaf offers Sensor Fabric™, a mesh of intelligent IoT sensors, endpoints, gateways and cloud technologies. Each asset in the Sensor Fabric™ generates a unique digital fingerprint with location and contextual metadata (such as temperature, shock and vibration). A patented location engine, middleware and cloud applications facilitate the transformation of digital metadata into actionable insights. This yields quick time-to-value, engaging user-experiences and deep operational insights. Dashboards provide alerts, notifications, metrics, trends, analytics and KPIs related to inventory, product quality, audit and regulatory compliance. Cloudleaf’s extensive library of APIs, SDKs and pre-built connectors enable seamless integration with existing enterprise systems, including ERP, MRP, MES and analytics.
“Cloudleaf’s technology has the potential to be a critical game-changer in the enterprise IoT space, especially when it comes to extracting operational efficiencies in today’s complex value-chains. It’s a massive market opportunity and we strongly believe in the seasoned management and technology team, with their years of industry expertise, to build a highly scalable business,” said Sriram Viswanathan, Founding Managing Partner of IndusAge Partners.
Parag Shah, Managing Partner, Mahindra Partners shared similar views on their investment, “As a large multinational group with interests in diverse industries, we see digitization of operations as a transformative force for enterprises all around the world. We see this as a significant opportunity for Cloudleaf and are excited to be a part of the funding round.”
Industrial IoT and the broader digital transformation market (estimated by Morgan Stanley to be between $90B to $110B at 18% CAGR by 2020) represents a huge opportunity for Cloudleaf. Although the company’s initial focus is manufacturing, distribution and pharmaceutical, Cloudleaf is rapidly building solutions applicable to any industry vertical. Some of Cloudleaf’s key customers include: ArcelorMittal, Dickten Masch Plastics, Magna and Shire, among others.
“We are excited to have these leading investors on board. This round of funding will enable us to drive continuous innovation and establish key partnerships,” said Mahesh Veerina, President and CEO of Cloudleaf. “Customers love the quick time-to-value of our technology and we are pleased with the rapid traction in the market."
IoT is top-of-mind for enterprises looking to enable digital business transformation, but IoT has been challenging to use. Cloudleaf is changing the game for IoT by transforming how IoT is deployed and delivered.
Cloudleaf offers Sensor Fabric™, a mesh of intelligent IoT sensors, endpoints, gateways and cloud technologies, to generate a unique digital fingerprint with location and contextual metadata, for assets-in-motion. Our location engine and cloud applications transform the digital metadata into actionable insights, delivering operational efficiencies for our customers, leading to reduced costs and improved financial performance.
Cloudleaf was founded in 2014 by Silicon Valley engineers with strong backgrounds in radio networks, embedded software and cloud technologies. Its management team is comprised of seasoned entrepreneurs and technologists, with vast experience in launching technology companies and leading them from the earliest stages, through rapid growth to successful IPOs or M&A exits. For more information, please visit www.cloudleaf.com/company.