{"id":469563,"date":"2021-04-01T08:03:31","date_gmt":"2021-04-01T12:03:31","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=469563"},"modified":"2021-04-01T08:03:31","modified_gmt":"2021-04-01T12:03:31","slug":"memfault-raises-8-5m-in-series-a-funding-to-expand-the-first-end-to-end-observability-platform-for-iot-devices","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/memfault-raises-8-5m-in-series-a-funding-to-expand-the-first-end-to-end-observability-platform-for-iot-devices\/","title":{"rendered":"Memfault Raises $8.5M in Series A Funding to Expand the First End-To-End Observability Platform for IoT Devices"},"content":{"rendered":"

\nMemfault\u2019s OTA updates, proactive device monitoring, and automated fault debugging deliver efficiencies and savings across the entire connected device lifecycle
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SAN FRANCISCO, April 01, 2021 (GLOBE NEWSWIRE) — Memfault<\/u><\/a>, the provider of the first cloud-based platform for connected device monitoring, updating, and debugging, today announced it has raised $8.5 million in Series A funding. Partech<\/u><\/a> led the round, with participation from existing investor Uncork Capital<\/u><\/a>. The Series A will allow Memfault to quickly scale its engineering team to meet accelerated demand from IoT device makers and make significant investments across product development and marketing.<\/p>\n

\u201cMemfault’s smart-device platform modernizes device monitoring, debugging, and deployment of updates, improving time-to-market and overall device health – all without impacting the end user,\u201d said Jean Sini, General Partner at Partech. \u201cThe company’s growth over the past few years underscores the demand for a better, more cost-effective, and simpler method of managing device fleets at scale, and we’re excited to support Memfault’s vision.”<\/p>\n

\u201cAs an early investor in several hardware startups, we recognized that Memfault solved a problem no one else did by empowering developers to get ahead of potential issues, leading to faster production, better products, and happier end-users,” said Jeff Clavier, founder and managing partner of Uncork Capital. “With the executive team’s deep domain experience in hardware development, Memfault’s diagnostic tools completely transform traditional hardware practices that can’t match the pace of the smart device industry. We’ve been thrilled to watch the success of Memfault as it extends its reach in response to the exponential growth of connected devices across all market sectors.”<\/p>\n

Memfault launched in 2018 with a founding team of embedded engineers from Pebble, Fitbit, and Oculus to solve the slow, inefficient, costly, and reactive processes that continued to plague firmware engineering teams. This passive process effectively relied on customers to be product testers as the first indication of a device issue often came through unhappy users contacting customer service or voicing dissatisfaction more publicly through social media and product review channels. With 30 billion<\/u><\/a> IoT devices predicted to be in use by 2025, traditional hardware monitoring and debugging methods can not keep pace with the increase of smart device adoption and the complexity of connectivity blocking teams from scaling their fleet of devices.<\/p>\n

Memfault’s cloud-based firmware observability platform dramatically reduces engineering and support overhead by enabling teams to deploy OTA firmware updates, automatically capture and remotely debug issues, and continuously monitor fleets of connected devices at scale. Memfault\u2019s SDK can be deployed on any connected device to capture data and send it to the cloud for analysis. Memfault\u2019s backend identifies, classifies, and deduplicates error reports, so engineers know what issues are most prevalent, and where the issue occurs without requiring any action from end-users.<\/p>\n

\n Key Features of Memfault<\/strong>
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By integrating Memfault into smart device infrastructure, developer teams can monitor and manage the entire device lifecycle, from development to feature updates, with ease and speed.<\/p>\n

Key features include:<\/p>\n