Software-as-a-service (SaaS) provider ihiji has announced that a recent round of Series A funding has raised $1.8 million in capital to back the next stages of growth as well as new product development for the company.
Funding was led by Jopeko, LLC, representing personal capital of healthcare fund manager Peter Kolchinsky. The funding will help ihiji respond to the rapid expansion of the Internet of Things (IoT) market by building a strong development team and expanding its cloud-based invision platform.
“Since ihiji’s inception in 2009, we’ve been focusing diligently on the IoT market and currently have a number of new products in the development process,” says ihiji CEO Stuart Rench. “As the market continues to mature and demand increases, this new investment will help expand our engineering team, allowing us to deliver these new solutions to the IoT technology professional even more quickly.”
Additional investors also came in to support the Series A funding including Capital Factory, Silverton Partners, Floodgate Capital and others.
“Having seen the power of ihiji’s invision platform in my own home, and hearing my technology integrator rave about how it streamlined the way they monitor and manage all their clients’ homes, I was thrilled to have the opportunity to support the platform’s further development,” says Kolchinsky.
“Though this industry’s leaders are already onboard, it’s hard to imagine how any technology professionals are managing their systems efficiently without ihiji’s invision product today,” continues Kolchinsky. “With ihiji’s upcoming product developments, the invision platform will become indispensable to every integrator and MSP in the near future. And, my family will be happy to have our home technology running ever more smoothly.”