March 15, 2016 07:00 AM Eastern Daylight Time
MINNEAPOLIS–(BUSINESS WIRE)–NimbeLink, a leading solution integrator and system provider for the IoT market, today announced that it has received $2.5 million in funding from First Analysis, a leading private growth-equity investor. The company will use the proceeds from the financing to capitalize on strong customer demand, to continue broadening its product suite, and to expand internationally to support its global client base.
“Our multi-year engagement with the company has convinced us that NimbeLink has the depth, experience and roadmap to build on its early success and become a major player in the IoT ecosystem, and we are excited to provide tangible support to their effort.”
“Putting the right components together to form Internet of Things Solutions is an inherently difficult task, and we have seen too many promising solutions delayed or abandoned due to these difficulties. NimbeLink eliminates this complexity with its highly-flexible hardware platform supported by a team of wireless experts,” says Howard Smith, Managing Director at First Analysis. “Our multi-year engagement with the company has convinced us that NimbeLink has the depth, experience and roadmap to build on its early success and become a major player in the IoT ecosystem, and we are excited to provide tangible support to their effort.”
Success in the competitive IoT marketplace requires a lot of elements – the right sensors and gateways, affordable modems, smart processors, sophisticated software, FCC and carrier certifications, secure networks and more – and NimbeLink ensures that its clients turn innovative concepts into reality quickly and economically.
“NimbeLink has established itself as the leader in the IoT market,” says Scott Schwalbe, CEO of NimbeLink. “First Analysis’ operational and strategic expertise, combined with its extensive resources, makes them the ideal partner to help us meet the growing needs of our customers and extend our market leadership position.”
Over the past few years, NimbeLink has proven its ability to deliver substantial and immediate benefits, ROI and customer service improvements to some of the world’s most demanding organizations.
NimbeLink is a solution integrator and system provider, simplifying connection to the cellular network for participants across the fast-growing Internet of Things market. The company creates simple, award-winning, application-specific devices including cellular modems and gateways, and provides product developers with a range of design, component, and manufacturing solutions to help speed innovative products to market. For more information, please call 612.285.3433 or visit nimbelink.com.
About First Analysis
First Analysis has one of the longest records (30+ years) in venture capital investing and has invested more than $750 million across 12 funds in three fund families. First Analysis excels at uncovering and leveraging the best opportunities in emerging high-growth segments in technology and health care for the benefit of the investors and growth companies we advise and serve. Integrated public and private company research underpins our success, yielding a deep, comprehensive understanding of each segment’s near-term and long-term potential. First Analysis helps established companies become profitable leaders in large markets, funding growth plans and working closely with management in areas including strategy, recruitment, sales and marketing, and corporate development. Its flexible approach targets investing $3-10 million as lead investor or as a syndicate partner who brings valuable perspective to the table.