Zonoff raises $32M for 'Internet of things' software
Mike Harris' firm plans growth backed by Valhalla, Grotech, new investors
Zonoff Inc., the Great Valley firm that builds "Internet of Things" home and small-business appliance-linking software for clients including Staples Inc.'s Staples Connect product line (manufactured by D-Link), says it has raised $31.8 million from past investors including Valhalla Partners and Grotech Ventures, plus new investors the firm hasn't yet named. Last year Zonoff raised $3.8 million.
The new cash "validates our approach in building a software platform for our channel partners," said CEO and coufounder Mike Harris in a statement. Zonoff is "the only (home-software) platform provider that is not also in the hardware business," so it doesn't compete with manufacturers, making it a more attractive business partner for appliance and device makers, Kiran Hebbar, general partner at Valhalla, said in a statement.