1NCE, one of the fastest-growing providers of IoT software and connectivity, announced the completion of a $60 million funding round. 1NCE provides a software platform for connected products to more than 24,000 customers managing 30 million devices across 170+ countries.
Since launching in the marketplace in 2018, the company has become an IoT industry disruptor by integrating connectivity as a component of its software platform. It currently operates the world’s largest IoT network in the cloud.
Since 2017, 1NCE has raised the equivalent of $160 million from investors in five countries. To date, its list of investors includes Deutsche Telekom, iSquared Capital, Kensington Capital Partners, SoftBank Corp., Vicenda Group, and Founder Alexander P. Sator.
New Leaders Added: The company has also continued to build out a seasoned team of leaders. And 1NCE recently appointed telecom industry veteran Christoph Vilanek as Chairman of the Advisory Board. Since 2009, he served as the Chief Executive Officer at Freenet, one of the largest telecom companies in Europe. In late 2024, the company also announced three additions to the C-Suite.
What the funding will be used for: This funding round supports 1NCE’s plans to continue its global expansion, which started in 2022 with a focus on the US, APAC, and LATAM. And 1NCE now has team members working from 30 countries, with branches in 11 countries offering regional operations for sales, billing, distribution, and warehousing.
Combined with a strong digital customer experience and support in 25 languages, 1NCE currently has a user base from 50+ countries. The company also plans to use a portion of the funding round proceeds to grow its presence in the US further.
1NCE also plans to utilize the new funding to broaden its product portfolio for use cases across dozens of industry verticals. The company is preparing to launch its next-generation platform to further cement 1NCE as one of the preeminent destinations for IoT. For customers already using the 1NCE OS software for their AI projects, the company also plans to launch new features soon. The company believes that AI growth will fuel adoption of IoT, with customers eager to ramp up data collection that strengthens their AI-driven engines.
KEY QUOTES:
“The U.S. is our largest and fastest growing market, and we‘re expanding our American workforce to accelerate our momentum. 1NCE already delivers at an incredibly high quality with consistency and industry-defining endpoint availability of 99.97%. This funding further increases our ability to expand our competitive advantage across the world.”
Ivo Rook, Co-Chief Executive Officer of 1NCE
“1NCE is a true global player in IoT with a variety of financial backers from the worlds of finance and telecom. Closing a strong round affirms that we are on the right track for continued success with our next generation SaaS platform.”
Alexander P. Sator, Founder and Co-Chief Executive Officer of 1NCE
