Apkudo provides a platform for companies to manage, sell and test connected devices such as smartphones, tablets, laptops and wearables, handling grading, pricing and both in-lab and field testing. The platform uses AI to predict where devices are likely to be lost or stolen and to distinguish cosmetic issues (smudges, scratches, chips, cracks) to assess condition. Apkudo’s customers include FedEx, T-Mobile and Asurion, and its customer base grew 30% year-over-year from last February. The company says it was built capital-efficiently by solving for sophisticated buyers and aims to expand beyond mobility into compute. Apkudo has about 180 employees and disclosed that its annual recurring revenue grew around 141% year over year; no raw revenue figures were provided. Management plans to use the new capital to expand engineering teams, build out go-to-market functions and establish a physical presence outside the U.S. Apkudo provides a connected device platform that connects internal systems and ecosystem partners to automate supply chain processes across the full device lifecycle. Its platform surfaces condition and value data to drive inventory management, reverse logistics, repair, resale and recycling decisions. Apkudo has expanded beyond wireless mobility to serve computer and laptop brands and integrates with partners such as FedEx Supply Chain Robotics and ERI. The company says it has tripled the number of customers on its platform over the past two years. Apkudo positions its technology to strengthen circular supply chains and reduce e-waste by improving refurbishment and recycling outcomes. The company will use new funding to accelerate growth and advance development of its connected device platform. Apkudo provides a universal system for managing connected devices across the entire supply chain by securely bridging internal systems and external partners into a single platform. Its Hive Device Platform leverages AI-enhanced test software and high-volume robotics for diagnostics and cosmetic grading to drive supply chain efficiencies. Customers include smartphone manufacturers such as Samsung and LG, carriers including AT&T Mexico, T-Mobile and Verizon, and marketplaces like Amazon. The company plans to use new funding to accelerate global expansion of the Hive platform across emerging channels and verticals. Apkudo was founded in 2011 by Josh Matthews and Ben Leslie and is based in Baltimore, MD. It recently completed a Series B raise to support these growth efforts.

Total raised

$66M

Funding rounds

3

Latest round

Series C

Latest activity

Feb 2023