Zonoff Up Total Funding to $35.6 million
Zonoff, creators of the Zonoff Connected Home Software Platform, today announced the completion of a Series B investment of $31.8 million USD. The round was a mixture of strategic and venture investment, including current Zonoff investors Grotech Ventures and Valhalla Partners. The close of this Series B round of funding brings Zonoff's total funding to $35.6 million.
"We're excited to reach this next milestone in our progress," explained co-founder and CEO Mike Harris. "This investment validates our approach in building a software platform for our channel partners, who in turn, have deep and trusted ties with consumers through their brand relationship."
Zonoff is the software platform that powers Staples Connect, the home automation solution found in over 550 Staples retail stores. Zonoff's software platform includes apps for all devices, cloud storage and remote access, as well as embedded software for the home control hub, manufactured by D-Link. With this investment, Zonoff adds new commercial agreements, which will be announced in 2015, to expand the product footprint into additional channels.
"As the connected home market continues to consolidate, Zonoff is the only platform provider that is not also in the hardware business," said Kiran Hebbar, General Partner of Valhalla Partners. "This is a very valuable position for the company as it does not compete with its various partners that either make or sell connected devices. We are extremely excited about the opportunity in front of Zonoff to drive mass consumer adoption of connected solutions."