Electric Imp

Electric Imp is an IoT connectivity platform provider that specializes in secure, efficient data transmission between devices and the cloud, enabling seamless integration for a variety of industries. Founded in 2011 in Los Altos, California, Electric Imp provides an IoT connectivity platform that facilitates secure data communication. The company has secured four deals, with its most recent investment in July 2020 during a Series C round where it raised USD 21. 00 mn led by Rampart Capital.

The company has achieved a current valuation of USD 200. 425 mn. Electric Imp offers a robust IoT connectivity platform designed to facilitate secure and efficient data transmission between devices and the cloud. Their core product, the imp006 module, supports CAT-M1, NB-IoT, 2G cellular, dual-band WiFi, and Bluetooth Low Energy (BLE).

This modular architecture allows businesses to choose suitable connectivity options. Enhanced by a seven-layer security framework, a fully managed operating system, and fail-safe over-the-air updates, Electric Imp serves industries including smart furniture, food and beverage, energy management, and industrial solutions globally, focusing on scalable, enterprise-level deployments. Electric Imp operates on a subscription-based revenue model, allowing clients to pay for services without upfront hardware costs. Their flagship products, including the imp006 module, generate revenue through direct sales to manufacturers looking for reliable IoT solutions.

Long-term service agreements ensure that clients receive ongoing support, updates, and maintenance, facilitating a steady revenue stream as clients scale their IoT initiatives. In July 2020, Twilio, Inc. acquired Electric Imp, aiming to leverage their robust IoT capabilities. The funding from the Series C round will be utilized to enhance product offerings and expand market reach, particularly targeting new sectors and geographic regions to strengthen their presence in North America, Europe, and parts of Asia.