Achieved record fundraising to accelerate network deployment in the U.S. Lowered IoT entry cost and spurred adoption with the introduction of ultra-low cost modules starting as low as $3.00 in the U.S. market. Expanded in key enterprise verticals: logistics, asset management and agriculture.
Sigfox today announced several growth milestones, including 20 percent population coverage within the U.S. and network deployment in 100+ U.S. cities, including major U.S. metropolitan areas such as Houston, San Francisco, Los Angeles, Chicago, New York City and Atlanta.
The rapid U.S. coverage deployment strengthens the powerful Sigfox global network that connects millions of objects, spanning coverage in 29 countries. By operating on a low-power wide-area network (LPWAN), Sigfox delivers low energy consumption, low cost and complementary connectivity solutions to customers and partners across industries. The Sigfox network enables the creation of new business models, acceleration of digital transformation and generation of additional revenue opportunities for U.S. businesses.
Last month, Sigfox closed a Series E funding round of €150 million to accelerate the expansion of its network. The funding was joined by U.S. investors including Salesforce Ventures and Elliott Management, in addition to Total, Henri Seydoux, Alto Invest, Swen CP, and Tamer Group. The new funding will be primarily dedicated to the U.S. network deployment and expansion.
“We are thrilled to celebrate this significant benchmark – in 100+ U.S. cities in one year – and we can attribute strong customer demand for connectivity to driving our aggressive network deployment in the U.S., as it is a priority growth market for IoT and Sigfox,” said Allen Proithis, President of Sigfox North America.
“By filling a massive unmet market need, we are enabling a new class of connected devices. We are excited to be the important connectivity layer in the next Industrial Revolution.”
Sigfox has signed over two dozen U.S. channel partners to enable IoT connectivity in key verticals including logistics, asset management and agriculture. Sigfox, in conjunction with channel partner Marconi Development Group, a key partner in the U.S. market offering end-to-end tower site solutions for improved revenue streams, is actively working on connected space opportunities in commercial real estate, asset management and logistics, including a pilot use case with a national franchise restaurant.
“We are very excited to partner with Sigfox, a recognized global leader in dedicated IoT connectivity,” said Tom Kallopoulos, Managing Partner, Marconi Development Group. “Sigfox’s low power and low cost solution is a big differentiator in the market, enabling our team to provide our customers with affordable and efficient IoT connectivity solutions. Sigfox enables our customers to transform their businesses by implementing use cases that otherwise may not have been possible.”
Sigfox kicks off the new year with refreshed commitments to rapid U.S. expansion and anticipates meeting several new milestones in the U.S. in 2017, including:
- Continued expansion into major U.S. metropolitan areas including Seattle, Philadelphia and the Baltimore-Washington beltway
- Forty percent U.S. population network coverage by the end of 2017, with a focus in major metropolitan areas as driven by customer needs
- A commitment to bring more enabled partners into their ecosystem