Balena raises $14.4 million to simplify IoT device management.

Image Credit: Balena

It’s estimated that by 2022, the number of connected electronics worldwide will hit 29 billion, of which around 18 million will occupy the burgeoning internet of things (IoT) subcategory. Wrangling even a portion of these might seem like a Sisyphean task for enterprises, but Alexandros Marinos aims to make managing IoT devices as straightforward as configuring PC peripherals.

Marinos is the founder of Balena.io (formerly Resin.io), a provider of DevOps solutions for devices in verticals from robotics and manufacturing to transport and building management. Three years after the Seattle, Washington-based company’s founding in 2013, it managed to attract $9 million in venture capital from Threshold Ventures, GE Ventures, Ericsson, and Aspect Ventures. Now, on the heels of this and a subsequent $5 million in funding, Balena is gearing up for expansion, flush with $14.4 million raised in a series B round led by OpenView and existing investors. The infusion will fuel the growth of its workforce, which now stands at 45 employees across its Seattle headquarters and satellite offices in London and Athens, Greece.


By Kyle Wiggers.
Full story at Venture Beat.