Tile, maker of little devices that help you find lost stuff — like your misplaced keys — revealed today that it’s raised $25 million in additional funding. The company also announced a new milestone: 10 million Bluetooth-enabled trackers sold.
Compared to past crowdfunding darlings like Pebble (and its slow march to death), Tile looks like a rare success story.
Tile crowdfunded its way to 2 million key fobs sold in two years, and today, two years later, it’s grown fivefold. The company says it runs “the world’s largest lost and found,” but declined to say if it does so profitably — last year it made $100 million in revenue.
New funding in hand, the company’s next steps are not so new. In October Tile announced plans to put its tracking tech inside other devices, like headphones, electric scooters, and high-end battery packs. “We’ll be investing heavily in expanding our Platform strategy,” said CEO Mike Farley. “We’re also going to double down on establishing our iconic brand and and continue growing the Tile community, which already locates more than two million items every day across 230 countries and territories.”
Existing investor Bessemer led the $25 million round.