Internet of things connectivity management platform startup Monogoto Inc. announced today that it has raised $27 million in new funding to accelerate its global expansion, hire for key positions worldwide and to enhance its go-to-market efforts.
Founded in 2018, Monogoto offers software-defined connectivity solutions that allow for secure connections across public and private LTE/5G and satellite networks. The company’s platform is pitched as simplifying IoT device connectivity through an application programming interface-driven approach that provides continuous, context-aware service for various industries.
Monogoto’s single subscription model allows enterprises to connect devices in over 180 countries, leveraging 550 global networks for what it says is robust, automated connectivity. The company says its solutions offer real-time management, security and flexibility for developers and enterprises.
The platform integrates granular control over connectivity to address compliance, security and energy management needs. It also supports scalable, global IoT deployments for a range of devices, such as streetlights to drones and electric vehicles.
“Connectivity has evolved from simple human networks to advanced, software-defined systems, but it still remains a complex, context-dependent challenge,” said co-founder and Chief Executive Itamar Kunik. “Devices like drones and electric cars have different connectivity needs depending on their state, requiring agile, scalable solutions. Legacy tools cannot simply be duplicated for the new era. Just as AWS transformed the cloud and Twilio scaled communications, Monogoto is redefining connectivity.”
Monogoto has built a deep customer base that includes Fortune 500 companies and enterprises across sectors such as automotive, retail, energy, supply chain and smart cities.
Toyota Ventures led the Series A round, with Samsung Next, The ACTIVE Fund LP, Assembly Ventures LP, Magenta Venture Partners LP and J-Ventures also participating.
“Enterprises have long sought a digital infrastructure that can seamlessly facilitate connectivity — and Monogoto is leading this shift with its software-defined, accessible, and affordable solution,” said Assembly Ventures co-founder and Partner Chris Thomas.
Coming into the new funding round, Monogoto had previously raised $11 million in one round, according to data from Tracxn.