IoT connectivity startup Teal Communications raises $9.1M
April 19, 2021 at 4:48 pm
Teal Communications co-founders Robert Hamblet (left) and Michael Johnston. (Teal Photo)
New funding: Teal Communications raised $9.1 million for its networking service used by Internet of Things device operators and others.
The tech: The Seattle-area startup operates an “eSIM platform” that lets companies connect their IoT devices to thousands of carriers by installing a standard or physically embedded SIM card. The startup has customers across industries such as oil & gas, healthcare, transportation, and more. It has access to more than 2,000 networks in 195 countries.
The idea is to help a drone manufacturer, for example, get its devices connected to the internet in a cheaper way than going directly to one mobile broadband provider. Teal’s software automates connectivity based on variables such as price, coverage maps, and network quality.
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BELLEVUE, Wash., April 20, 2021 /PRNewswire/ Bellevue-based startup Teal Communications has raised $9.1 million to fuel its intelligent eSIM platform for IoT and private networks and to expand its services into new verticals.
Teal Communications, Inc.
The company s Series A is led by StageDotO Ventures, an early-stage investment fund with offices in Seattle, Washington, and Boise, Idaho. Stormbreaker Ventures, Capital Eleven, Accellius Capital, the Alliance of Angels (AoA), and principals of Steelhead Partners also participated in the round. Additionally, Sunit Patel, the former CFO at CenturyLink and Level 3 Communications and former EVP in charge of T-Mobile s acquisition of Sprint, joins Teal as an investor.
April 20, 2021·1 min read
Bellevue-Based Startup Teal Communications Raises $9.1M to Expand Intelligent eSIM Platform, Enabling Global IoT and Private Network Services
Bellevue-based startup Teal Communications has raised $9.1 million to fuel its intelligent eSIM platform for IoT and private networks and to expand its services into new verticals.
The company’s Series A is led by StageDotO Ventures, an early-stage investment fund with offices in Seattle, Washington, and Boise, Idaho. Stormbreaker Ventures, Capital Eleven, Accellius Capital, the Alliance of Angels (AoA), and principals of Steelhead Partners also participated in the round. Additionally, Sunit Patel, the former CFO at CenturyLink and Level 3 Communications and former EVP in charge of T-Mobile’s acquisition of Sprint, joins Teal as an investor.
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