Join top executives in San Francisco on July 11-12, to hear how leaders are integrating and optimizing AI investments for success. Learn More
The Internet of Things has arrived. Glassbeam, Inc just announced new funding of $2 million today and an expansion of its board of directors, pointing to the company’s continued growth and expansion in the IoT market. This brings its total funding up to $5.3 million.
Glassbeam is known for SCALAR, a platform designed to process large amounts of data at once. This data is dubbed “machine data” in that it is generated by the growing number of connected devices now available. The IoT requires inherent flexibility, and SCALAR offers that by working with any data stream and any device you can throw at it.
VKRM Group led the round, a venture capital firm that specializes in investing in innovative businesses. But growth isn’t all Glassbeam had on its mind with this injection of capital: It was also thinking about leadership. In fact, Kumar Malavalli was just brought on board as Chief Strategy Officer (CSO). He is the co-founder of Glassbeam and previously led several tech startups, including Brocade Communications and InMage, which was later acquired by Microsoft.
Sashi Reddi was also appointed to the board of directors. He is the founder of SRI Capital and four other startups.
Glassbeam was founded in 2009. It received its first round of Series D funding in September 2013 in the amount of $3.3 million. Leading that round was VKRM Group, yet again.
The Internet of Things has been making the news rounds as of late. Just yesterday, Intel revealed the world’s smallest wireless modem. And in July, experts claimed IoT would be at the heart of the next industrial revolution.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.