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Arrayent Announces $11.9 Million Series B Funding Round with DCM Ventures and Intel Capital

Arrayent, a leader in virtualization technology for the Internet of Things, today announced its Series B Funding Round led by DCM Ventures, with participation from Intel Capital.

“Arrayent is in a very strong position with a fundamentally unique and differentiated approach to the Internet of Things,” said Shane Dyer, founder and CEO of Arrayent. “This latest round of funding will allow us to expand our platform and continue to grow our customer base within strategic global markets.”

Leveraging the power of the cloud to make connected consumer devices for the home less complex and more affordable, Arrayent’s technology is enabling manufacturers of consumer products, retailers and service providers to strengthen their relationships with consumers.

Jason Krikorian, general partner at DCM Ventures, said, “We are extremely compelled by Arrayent’s cloud-oriented architecture. With it, it’s no longer true that to provide sophisticated connectivity, device complexity must unduly escalate. An architecture like Arrayent’s is key to the Internet of Things delivering on its massive promise, and global consumer brands are recognizing that.”

Arrayent provides a platform upon which companies can build a wide range of compatible connected products so that home appliances can be controlled with a single smart phone application. Some of Arrayent’s customers include Whirlpool, Pentair, First Alert and Chamberlain as well as leading U.S. retailers. In Europe, the company is also partnered with SALUS Controls plc, a leading supplier of thermostats.

“Arrayent enables manufacturers, retailers and service providers to deliver smarter, connected consumer products,” said Arvind Sodhani, president of Intel Capital and Intel executive vice president. “By shifting the complexity of software and connectivity to the cloud, Arrayent is helping companies fulfill the potential of the Internet of Things.”

Published Tuesday, November 12, 2013 5:43 PM by David Marshall
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