Memfault Raises $24M in Series B Funding
Summary
Memfault, a San Francisco, CA-based provider of an IoT reliability platform, raised $24M in Series B funding. The round was led by Stripes with participation from Partech Partners and Uncork Capital as well as the 5G Open Innovation Lab. The company intends to use the funds to support its product roadmap and partner development, and grow its team across all areas to address rising enterprise demand. Memfault is compatible with a wide range of wired and wireless protocols such as Bluetooth, cellular, WiFi, LoRa, Thread, or Zigbee, allowing maximum flexibility. Commenting on the news, Baldassari said: “With this investment, we can continue to innovate on our platform and scale the business to meet the needs of customers, whether they build a niche industry device or a wearable used by millions.”