Blues recently announced an $8 million follow-on funding round led by existing investor XYZ Venture Capital, following on from its previous $25 million raise in May 2025, led by Sequoia Capital.
This latest fundraise was driven by increased investor demand after the prior round was oversubscribed, prompting the company to accelerate the timing of this next phase of capital investment. The additional capital comes at a key time for Blues, as rapid customer adoption and growing demand signal clear market need for its connectivity solutions.
The funding will be applied towards supporting the company’s growth, fuelling further product innovation, and enabling Blues to deliver on its mission to help the world’s physical product makers transform their offerings into data-driven intelligent services.
“We had more investor demand than we could accommodate in our last round, making it clear there was an opportunity to move faster,” said Ian Small, CEO of Blues. “IoT adoption is accelerating across industries, from refrigeration manufacturers, logistics providers, to automotive battery vendors. For product makers of all kinds, Blues simplifies secure, seamless Cloud connectivity for physical products. This is the ideal time to expand our reach, capitalise on our unique offering, and help our customers deploy intelligent services to generate new revenue streams.”
“We’ve been big believers in Ray Ozzie’s vision and in Blues’ technology for years,” added Ross Fubini, Managing Partner at XYZ Venture Capital. “Watching customer trials start to turn the corner into scaled production rollouts convinced us that this was the right moment to boost our investment in Blues and support the company’s increased go-to-market focus.”
Blues makes it significantly easier and more affordable to derive actionable insights from physical products, accelerating the time to market for new revenue-generating services that bring product makers into the intelligent era. Blues is driving a long-overdue platform shift by putting these capabilities within reach of every product maker, and not just those with big R&D budgets.
“I founded Blues because of my deeply held belief that there’s tremendous opportunity in helping every physical product become connected and intelligent,” said Ray Ozzie, Founder and Executive Chair of Blues. “It’s exciting to see our customers transform their own customers’ experience with new, intelligent services, all made possible by Blues’ tapping the data that lies within their physical products.”
With $99M in funding to date and growing adoption across new and existing customers, Blues is spearheading the movement in solving the toughest challenges in IoT connectivity.
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