Veniam has developed a technology platform that provides in-vehicle internet access and connectivity for cars and fleets, designed to overcome urban dead zones and automatically switch to Wi‑Fi to expand a vehicle’s communication range. Its networking platform supports use cases including mobile Wi‑Fi hotspots with advertising, onboard diagnostics and video, smart city applications, and real-time monitoring and control of mobile assets. The company plans to use the new funding to expand its platform capabilities, deliver managed services and grow teams in Silicon Valley, Porto (Portugal) and Singapore. Veniam was founded by João Barros, Susana Sargento, Robin Chase and Roy Russell. The company is headquartered in Mountain View, CA. Financially, Veniam raised a $22M Series B and has raised $27M in total to date. Veniam equips moving vehicles with hardware and software to create mobile Wi‑Fi networks and collect transportation data. Its technology has been demonstrated on Porto’s public buses, where about 50,000 citizens use the service out of a 350,000 population and it reaches nearly 75% of smartphone-owning bus riders. The company positions this market as the “Internet of Moving Things” and aims to turn fleets into live networks independent of cellular carriers. Veniam plans to use new funding to expand operations inside the United States and already maintains offices in Mountain View, California, while keeping core operations in Europe. The firm said its new capital will carry it around 18 months and noted a lower spend rate due to having some operations in Europe where developer talent is less expensive. Veniam also sees the data collected from its networks—vehicle tracking and traffic information—as a potential business opportunity.

Total raised

$27M

Funding rounds

2

Latest round

Series B

Latest activity

Feb 2016