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Matroid Completes $20 Million Series B Financing to Expand into Manufacturing and Industrial IOT

We are proud to announce that Matroid has raised $20M in Series B funding led by Energize Ventures with participation from existing investors New Enterprise Associates (NEA), Intel Capital, and others. The new financing brings our total funding to $33.5 million.

We will leverage this additional  funding to accelerate product development and go-to-market expansion in manufacturing, industrial IOT (IIOT), and video security markets. Matroid enables non-software organizations to harness the power of software-defined sensors that are critical for many enterprises, federal agencies, and public safety organizations. With Matroid, these companies can expand the scope of their deployments, easily building video and machine learning pipelines in a manner of minutes, not months. Building on the enterprise success of its product, Matroid plans to leverage the new funding to accelerate product development and go-to-market expansion in manufacturing, industrial IOT (IIOT), and video security markets. Within manufacturing and IIOT, Energize’s corporate investors include General Electric, Schneider Electric, Caterpillar, Invenergy, and others.

To learn more about Matroid, sign up and get a free demo.  Visit us at matroid.com or contact solutions@matroid.com.

Press Coverage

Full article on Bloomberg

About Entergize Ventures

Energize Ventures is a pre-growth venture capital firm located in Chicago. Energize partners with entrepreneurs to advance the next generation of energy and industry by investing in software and business model innovations. Since it was founded in 2016, Energize has made 14 investments spanning cypersecurity, mobility, data analytics, operational efficiency and distributed assets. For more information on Energize Ventures, please visit www.energize.vc.

About New Enterprise Associates (NEA)

New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With more than $20 billion in cumulative committed capital since the firm’s founding in 1977, NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 220 portfolio company IPOs and more than 370 acquisitions. For additional information, visit www.nea.com

About Intel Capital

Intel Capital, Intel's strategic investment organization, invests in innovative startups targeting computing and smart devices, 5G connectivity, cloud, datacenter, artificial intelligence, merged reality, automated driving, the Internet of Things, robotic technologies, immersive entertainment and semiconductor manufacturing. Since 1991, Intel Capital has invested US$12.2 billion in 1,490 companies worldwide, and 636 portfolio companies have gone public or been acquired. Learn more at intelcapital.com or follow @Intelcapital.