San Mateo-based MODE is a sensor cloud company that has raised $3 million in Series A funding led by True Ventures. Om Malik, a partner at True Ventures and the founder of GigaOm, is joining MODE’s board of directors in conjunction with the funding.
What does MODE do? The company provides instant access to sensor data from the Internet of Things (IoT) devices, connected vehicles, mobile devices, medical equipment, etc. Often times, businesses that have these sensors do not have back-end databases or tools for creating actionable insights around this data.
The ability for companies to harness operational data is essential for businesses in order to stay competitive. As of right now, MODE is working primarily with companies in the solar, medical and manufacturing sectors.
“We focus on data collection because we want to address common infrastructure challenges and let customers spend their time utilizing data for their businesses,” said MODE co-founder Gaku Ueda.
MODE co-founder Ethan Kan and Ueda are experienced in building large-scale cloud infrastructure. And both of them have been friends for years, which is one of the reasons why Malik was attracted to the company.
MODE now has $5 million in total funding. MODE plans to use this funding round to hire more employees, scale their operations, and connect millions of additional sensors to the cloud.
“Sensors are and will increasingly become a source of data and data-derived intelligence that will help improve and automate many industrial processes,” added Malik in a statement. “MODE has developed software technologies to harness this power and transform the industrial world.”
