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Salesforce and other tech giants invest $24M in IFTTT to help it expand in enterprise IoT

  • Posted by admin on May 9, 2018

IFTTT (If This Than That), a web-based software that automates and connects over 600 online services/software raised a $ 24M Series C led by Salesforce. Other investors include IBM and the Chamberlain Group and Fenox Venture Capital.

New apps and devices that made their way to IFTTT

The latest round brings IFTTT’s funding to $ 63M and it will use the funding proceeds to provide integration for enterprise and IoT services and hiring. In IFTTT’s platform, applets are code/script users need to deploy to integrate two or more services (such Google Drive’s integration with Twitter/Facebook).

“IFTTT is at the forefront of establishing a more connected ecosystem for devices and services. They see IFTTT as an important business, ecosystem, and partner in the industry,” said CEO Linden Tibbets.

Investment in IFTTT reveals that Salesforce is consolidating its presence in enterprise IoT space. It also acquired Mulesoft, an integration platform that rivals Microsoft’s BizTalk.

IBM’s investment in IFTTT is also noteworthy as the former is pushing its IBM Watson IoT platform. The following statement also shows its keen interest in IFTTT.

“IBM and IFTTT are working together to realize the potential of today’s connected world. By bringing together IBM’s Watson IoT Platform and Watson Assistant Solutions with consumer- facing services, we can help clients to create powerful and open solutions for their users that work with everything in the Internet of Things,” said Bret Greenstein, VP, Watson Internet of Things, IBM.

Other recent investments in IoT companies include $ 30M Series B of Armis and Myriota‘s $ 15M for its IoT satellite-based connectivity platform.

For latest IoT funding and product news, please visit our IoT news section.


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