Senet Raises $16M to fund International Expansion
22 September 2020 – Senet, Inc., a leading provider of cloud-based software and services platforms that enable the Internet of Things (IoT), today announced it has secured a $16 million funding round led by Fisk Ventures. This new round of funding is a strong endorsement of Senet’s focus on building out the United States’ largest public carrier-grade LoRaWAN network, and supporting global IoT solution deployment by providing coverage and connectivity readiness in 80+ countries.
This funding will be used to:
- Accelerate the deployment and densification of Senet’s LoRaWAN network across the United States to support utility and municipal network builds
- Expand global business development and co-marketing activities with network operators, tower companies and radio access network (RAN) providers
- Invest in awareness programs and business development resources designed to scale the commercial Internet of Things by transitioning users to mission-critical applications.
Senet was launched in 2014 to create a low-cost data network to rapidly deploy, securely connect and manage millions, and ultimately billions, of low-power, low-cost sensors. Senet’s LoRaWAN network supports a variety of municipal, industrial, and enterprise initiatives focused on automation, service delivery and sustainability.
Included in its growth strategy, Senet is now offering programs for customers looking to transition from developer networks, crowd-sourced hotspot networks, and gateway-based Network Servers.
“Over the past six years we've seen a wide range of businesses embrace IoT and have learned that creating a bridge between the physical and digital worlds is far more complex than most people realize,” said Bruce Chatterley, CEO at Senet. “Building on our experience and with the support of our investors, we will continue to strive toward delivering ubiquitous low-cost network connectivity, zero-touch device configuration, and device monitoring and management at massive scale in support of our customers’ needs. With a multi-year head start over competing LPWAN technologies and a strong partner ecosystem, we are in a great position to execute the next steps of our long-term strategic vision of helping organizations transform business outcomes, markets, and economies.”