– IOTA Software has secured USD 10.4 million in Series A2 funding, led by Altira Group, with contributions from Oxy Technology Ventures, Aramco Ventures, and Second Avenue Partners. 

– The funding will support IOTA’s expansion of its engineering, product, and customer success teams, along with enhancing its technology infrastructure and marketing strategies. 

– IOTA’s cloud-native platform helps industrial enterprises optimize performance by consolidating critical business and operations data, supporting informed decision-making across industries.

IOTA Software has raised USD 10.4 million in its latest Series A2 funding round. Altira Group led the round, with key participation from Aramco Ventures, Oxy Technology Ventures, and Second Avenue Partners.

The fresh capital will drive the company’s growth, focusing on expanding its engineering, product, and customer success teams, while also enhancing its technology and marketing efforts.

Expansion and Growth Strategy

Additionally, the new funding will accelerate IOTA’s efforts to expand its core teams. This includes boosting engineering, product development, and customer success. Enhancements to the company’s technology infrastructure and marketing strategy will also be a priority.

These advancements will help IOTA continue its rapid growth trajectory in the industrial data visualization market.

Cloud-Native Visualization Platform

IOTA’s cloud-native platform offers a cohesive visual environment designed for enterprise use. Executives and operators can utilize the platform to optimize performance and make data-driven decisions.

Meanwhile, IOTA helps companies gather insights from siloed business and operations data, improving asset performance and streamlining control room operations.

Strong Investor Support

Ivan Datskov, CEO of IOTA Software, expressed enthusiasm about the funding, stating that it would enable the company to accelerate growth and impact even more industries.

J.P. Bauman, Partner at Altira Group, highlighted the importance of supporting IOTA as it continues to drive customer success in the energy sector.

Trey Lowe, Chief Technology Officer at Devon Energy, shared his pride in being both a partner and a customer of IOTA Software.

Hence, with this new round of funding, IOTA Software is well-positioned to strengthen its leadership in industrial data visualization and continue delivering innovative solutions to its clients.