Seattle-based Internet of Things startup Teal has raised $10.8 million.
The company is calling the funding a Series A-1 round, and it builds on the company's $9.2 million Series A round it raised in April 2021. With the new funding, which the company announced Tuesday, Teal says its value is now over $100 million.
"By developing a technology that gives our customers control over which data networks they access, we've created a truly scalable and future-proof solution that spans a broad range of use cases and industries," Robert Hamblet, Teal co-founder and CEO, said in a news release. "We're just scratching the surface of what's possible and are excited to provide our customers with real-time access to more global networks over time."
On its website, Teal has open roles in engineering, sales and customer success. StageDotO Ventures led the new round of funding, while Stormbreaker Ventures and Capital Eleven participated.
Teal, founded in 2018, works with enterprise clients to connect devices to various cellular and satellite networks. The company says it offers more than 2,000 networks in 195 countries through its partners and has clients in mobility, health care, agriculture and defense, among others.
Teal is one of multiple local companies focused on the IoT industry. Seattle-based Impinj, for example, connects everyday goods to the internet through computer chips and software. The company went public on the Nasdaq in 2016. Seattle-based Mason, meanwhile, offers software and hardware to make smart devices like donation kiosks, remote patient monitors and mobile point-of-sale products.
"We're taking all of this magic of Apple, in terms of an integrated hardware and software experience, having ownership and control, and we're democratizing that," Mason CEO Nancy Xiao previously told the Business Journal. "We're putting that power in the hands of any business."
