thethings.iO provides a cloud backend for Internet of Things devices, offering analytics, storage, APIs, tooling for device management and interoperability to speed deployment and performance. It targets both developers building connected devices and companies deploying IoT devices, positioning itself against rivals such as Evrythng and Xively. The startup reports about 2,500 registered users and 10 paying customers and plans to begin monetizing DIY users with a €1 per device per year license. Founded two years ago and based in Barcelona, the company says it has customers mainly in Europe and is opening contacts in Asia. thethings.iO previously took funding from Wayra (the Telefónica incubator). The new capital will be used for marketing, sales development and expansion into Asia and the U.S. TheThings.io offers a full cloud-based back end for IoT companies, including data storage, analytics, APIs, and a hardware-agnostic architecture designed for device interoperability. Servers are currently based in Europe with plans to expand to the U.S. to reduce transatlantic latency. The company targets early-stage IoT startups and charges a tiered per-device pricing model (around €1 per device/year, €0.5 at 50,000 devices, €0.2 at 250,000 devices, and custom pricing at 1M devices). During stealth it ran six pilot programs and signed up about 2,000 developers; the team comprises six employees in Spain. TheThings.io positions itself against platforms such as Xively, SmartThings (Samsung), and Relayr Cloud while arguing its focus on interoperability and IoT-specific app architecture differentiates it from generic cloud providers. Financially, it has completed seed rounds and is actively raising additional capital to support expansion and growth.

Total raised

$0M

Funding rounds

2

Latest round

Equity

Latest activity

Jul 2015