Two Idaho-based venture capital firms will back a growing startup aiming to connect devices to the Internet.
Teal Communications, based in Seattle, closed a $9.1 million funding round, known as Series A funding. Boise’s StageDotO led the round, with Meridian’s Capital Eleven participating.
Teal also added two executives in the Boise area, and co-founder Michael Johnston says they hope to grow their local presence.
“We are scaling the team and growing sales, product, and engineering roles,” he said. “We’re looking to localize talents here in the northwest in Seattle and Boise. We hired a VP of sales in Boise and a strategic advisor who was at Micron and AT&T.”
Connecting to the Internet of Things
Teal provides software for the internet of things – a wide array of devices that connect to the Internet beyond just computers and phones – including kiosks, cars, scooters and more.
“(We have) an intelligent eSIM platform enabling any device to get connected on any network in the world automatically,” Johnston said. “It could be networks like AT&T Verizon or TMobile – as well as private cellular networks.”
Johnston said they are currently working on private networking for Intel, helping provide connectivity inside warehouses.
Though Teal remains based in the Seattle area, it maintained a strong tie to the Boise area via StageDotO.
“StageDotO led our seed round,” Johnston said. “We’ve had a good relationship with them for the past three years and have traveled to Boise quite a bit and made some good relationships. We made some good connections with both talent and investors in the Boise community. There’s lots of talent there and we’re extremely excited to plant our flag there and grow our presence.”