Evrythng, the Internet of Things (IoT) smart products platform that gives any physical object a so-called “digital identity," has closed a $24.8 million Series B funding.
The round was led by San Francisco-based Sway Ventures, and also included Toronto-based Generation Ventures and London-based Bloc Ventures. They join existing backers such as Cisco Investments, Samsung, BHLP, Atomico, Dawn Capital and Advance Vixeid Partners.
Founded all the way back in 2011, Evrythng offers an enterprise-focused IoT platform for managing what it calls “intelligent software identities" for products that have been made referral marketing solution video smart via anything from smart tags like QR codes, to NFC, BLE, RFID, or which are directly connected to the internet. In other words, it's the data layer needed by companies that want to go all in on the IoT trend as part of their digital transformation strategy.
In a call, Evrythng co-founder and CEO Niall Murphy told me that the company's customers and use case broadly falls into three camps: tracking products through the supply chain, direct-to-consumer applications through smart packaging that can be the trigger for new types of experiences, and directly connected smart home products (i.e. what consumers might traditionally think of as IoT).