Insider Brief
- Viam has secured $45 million in Series B financing, raising its total funding to $87 million, with continued support from investors like Union Square Ventures and Battery Ventures.
- The company offers a transformative software platform designed to simplify the interaction with devices across IoT, robotics, smart home, and industrial automation sectors, removing the complexities traditionally associated with proprietary and siloed solutions.
- Viam’s funding will bolster enterprise partnerships, commercial innovation, and the development of its open-source platform, which aims to democratize access to open data, accelerate innovation, and enhance operational efficiency across critical sectors.
PRESS RELEASE — NEW YORK/March 26, 2024 /PRNewswire/ — Viam, the software platform for smart machines, today announced that it has closed $45 million in Series B financing. The round includes participation from continuing investors, Union Square Ventures and Battery Ventures. The financing brings Viam’s total funding to $87 million.
As the extraordinary pace of global innovation continues to accelerate, advances in AI and machine learning, the massive rise of connectivity, and the prevalence of cloud and edge computing continue to dominate the software landscape. However, software to manage hardware has continued to make only moderate gains, stymied by proprietary and siloed solutions specific to individual machines, sensors, and equipment, leading to complex constraints that frustrate developers, impede growth, and stifle progress.
Viam is at the forefront of a transformative change, introducing a singular software platform that streamlines interaction with devices across IoT, robotics, smart home, and industrial automation. Viam is a fully modular, interoperable, and open source software solution that works seamlessly across all hardware and any fleet of machines. Its open architecture removes costly and complex barriers to working with physical devices, in order to speed developer velocity, democratize access to open data to inform AI, and accelerate innovation in critical sectors such as industrial manufacturing, energy, and climate.
Since launching general availability in May 2023, Viam is now working with global enterprises and startups of every size to substantially accelerate time to market, decrease risks, increase developer velocity, improve operational efficiency, and craft modern end user experiences that drive improved customer satisfaction, delivering increased revenue.
The funding also follows the announcement that Viam is partnering with the Whale and Vessel Safety Taskforce (WAVS) to establish an open-source data collection program and AI solution crucial for North Atlantic Right Whale conservation efforts, showing how Viam can be used for open data to drive collaboration and transparency, as well as the unique ways Viam brings AI and actuation to the edge.
“Viam’s open architecture represents a paradigm shift that will bring the promises of robotics to the devices we use everyday,” said Albert Wenger, Partner, Union Square Ventures. “We’re thrilled to continue partnering with Viam in this exciting next chapter.”
Additional ongoing partnerships include working with industrial, automation, and innovation teams to keep machines running smoothly on the edge; enable device-to-cloud data pipelines that help manufacturers with real-time data monitoring, predictive maintenance, and remote diagnostics; and seamlessly deploy AI and ML models via the Viam Modular Registry.
“This investment affirms Viam’s commitment to innovation, and strengthens our vision to empower developers with intuitive, powerful, and flexible tools that help transform the way software powers hardware,” said Eliot Horowitz, founder and CEO, Viam. “Whether you’re in IoT, robotics, smart home, or industrial automation, we’re empowering the next generation of startups, developers, and enterprises to move quickly and build better.”
The latest funding will enable Viam to continue accelerating enterprise partnerships, driving commercial innovation, and making further developments into the software platform. Enterprises interested in learning more or requesting a custom demo can reach out here.
ABOUT VIAM
Viam is a comprehensive open-source platform that simplifies the building, monitoring, and data management of smart machines. From industrial robots to smart home appliances to IoT devices, Viam is transforming the way software powers hardware for any device with sensing, compute, and actuation. Founded in 2020 by former MongoDB co-founder and CTO Eliot Horowitz, Viam is headquartered in New York City.
www.viam.com
Media Contact: media@viam.com
