1NCE recently announced the completion of a $60 million funding round as the company looks to expand its global presence.
1NCE provides a software platform for connected products to more than 24,000 customers managing 30 million devices across 170+ countries. Since launching in the marketplace in 2018, the company integrates connectivity as a core component of its software platform.
Since 2017, 1NCE has raised the equivalent of $160 million from investors from five countries. 1NCE’s list of investors to date now includes Deutsche Telekom, iSquared Capital, Kensington Capital Partners, SoftBank Corp., Vicenda Group, and Founder Alexander P. Sator.
The funding round supports the company’s plan to continue its global expansion, which began in 2022 with a focus on the United States, APAC and LATAM. 1NCE now has team members working from 30 countries, with branches in 11 countries offering regional operations for sales, billing, distribution and warehousing. Coupled with a strong digital customer experience and support in 25 languages, 1NCE currently has a userbase from 50+ countries.
The company also intends to use a portion of the funding round proceeds to further grow its presence in the United States.
“The US is our largest and fastest growing market, and we‘re expanding our American workforce to accelerate our momentum. 1NCE already delivers at an incredibly high quality with consistency and industry-defining endpoint availability of 99.97%. This funding further increases our ability to expand our competitive advantage across the world,” said Ivo Rook, Co-Chief Executive Officer of 1NCE.
1NCE also plans to leverage the new funding to broaden its product portfolio for use cases across dozens of industry verticals. The company is preparing the launch of its next-generation platform to further strengthen 1NCE’s postions. For customers already using the 1NCE OS software for their AI projects, the company plans to launch new features soon. The company believes that AI growth will fuel adoption of IoT, with customers eager to ramp up data collection that strengthens their AI-driven engines.
“1NCE is a true global player in IoT with a variety of financial backers from the worlds of finance and telecom. Closing a strong round affirms that we are on the right track for continued success with our next generation SaaS platform,” said Alexander P. Sator, Founder and Co-Chief Executive Officer of 1NCE.
The company has continued to build out a seasoned team of leaders. 1NCE recently appointed telecom industry veteran Christoph Vilanek as Chairman of the Advisory Board. Since 2009, he has served as the Chief Executive Officer at Freenet, one of the largest telecom companies in Europe.
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