Monogoto Raises $27 Million in Series A Funding to Lead the Software-Defined Connectivity Revolution

Backed by Toyota Ventures, Samsung Next, Assembly Ventures, and Team8, Monogoto introduces software-driven, API-based connectivity to fuel innovation in connected devices

PALO ALTO, CA / ACCESSWIRE / October 15, 2024 / Monogoto, the leading provider of software-defined connectivity solutions, today announced that it secured a $27 million Series A funding round. The round was led by Toyota Ventures, with participation from Samsung Next, The ACTIVE Fund, Assembly Ventures, Magenta Venture Partners, and J-Ventures, as well as from existing investors who doubled down on their initial investment - including Triventures, Singtel Innov8 Ventures, Telefónica, Team8, and Alter Venture Partners. Monogoto has raised a total of $38 million to date.

Connectivity has been a fundamental part of digital transformation, reshaping how we live and work while enhancing efficiency and sustainability. However, amidst the rapid adoption of AI and automation, connectivity is emerging as the driving force behind the AI revolution - serving as the lifeline for cutting-edge technological products, from autonomous trucks and deliveries to advanced robots, drones, and augmented reality devices. This shift is fueling a growing demand for simplified, software-defined connectivity solutions that offer management flexibility, simple developer-friendly APIs and webhooks, and the ability to seamlessly switch between carriers, enabling context-aware devices to tackle technical, IT, and regulatory challenges.

"Connectivity has evolved from simple human networks to advanced, software-defined systems, but it still remains a complex, context-dependent challenge. Devices like drones and electric cars have different connectivity needs depending on their state, requiring agile, scalable solutions. Legacy tools cannot simply be duplicated for the new era," said Itamar Kunik, Co-Founder and CEO of Monogoto. "We've built a game-changing, self-service cloud infrastructure that simplifies connectivity and drives innovation. Just as AWS transformed the cloud and Twilio scaled communications at scale, Monogoto is redefining connectivity."

Monogoto is a cloud-based, connectivity-as-a-service provider that simplifies device connectivity for enterprises and developers. By consolidating connectivity on a single platform, Monogoto offers resilient, API-driven, automated solutions that ensure high-quality service across public, private, and satellite networks. Monogoto lowers the barriers to device innovation with rich functionality, offering secure, accessible, and context-aware connectivity for sensors and devices. This enables customers to streamline operations and unlock the full potential of their physical products through software-defined connectivity.

Since its founding in late 2018 by cellular and web veterans Itamar Kunik (CEO) and Maor Efrati (CTO), Monogoto has experienced rapid growth, serving Fortune 500 companies and enterprises across sectors such as automotive, retail, energy, supply chain, and smart cities. The company is currently providing its services in over 180 countries, using 550 public, private LTE/5G, and satellite networks. With the new round of funding, Monogoto plans to accelerate its global expansion and hire for key positions worldwide to further enhance its go-to-market efforts.

"Enterprises have long sought a digital infrastructure that can seamlessly facilitate connectivity - and Monogoto is leading this shift with its software-defined, accessible, and affordable solution," said Chris Thomas, Co-Founder and Partner at Assembly Ventures. "We're excited to partner with their visionary team to break down barriers for innovators, creating continuous connectivity that will ultimately disrupt the way we live, work and move the world."

About Monogoto

Monogoto revolutionizes IoT with its software-defined connectivity platform, offering seamless cellular, private LTE/5G, and satellite connectivity. By delivering simplified, API-driven, always-on connectivity, Monogoto empowers enterprises and developers to overcome traditional barriers and scale innovation. Serving over 180 countries and leveraging 550 networks, Monogoto enables the connection of sensors and devices across diverse industries, including automotive, smart cities, retail, healthcare, fleet management, and more.

Contact Information:

Tamar Harel
tamar@tellny.com

SOURCE: Monogoto

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