IoT Company TEAL Pulled in $10.8M to Connect Devices Across Networks

With the fresh cash, the company is more than doubling the size of its team over the next year.

Written by Ashley Bowden
Published on Mar. 31, 2022
IoT Company TEAL Pulled in $10.8M to Connect Devices Across Networks
michael and robby teal
TEAL co-founders Robby Hamblet (left) and Michael Johnston (right). | Photo: TEAL

In this vast world, time, distance and space pose very little issue when it comes to connecting with one another. The internet has brought people closer together than ever before, and the same goes for devices. This ecosystem of internet-connected objects is continually expanding— wearable health devices and smart home products are just the start. Seattle-based TEAL is aiming to outfit companies in the IoT industry with programmable networking services.

TEAL provides enterprise customers with the tech they need to enable their end-users to automatically connect any device to any global carrier. It enables connectivity across over 2,000 networks in 195 countries. TEAL serves clients leveraging IoT solutions in industries like healthcare, agriculture, defense, robotics and private LTE/5G.

The company announced this week it secured $10.8 million in funding as an extension of its Series A round from 2019. The addition of this funding, led by StageDotO Ventures, brings TEAL’s total funding to $20 million. Investors Stormbreaker Ventures and Capital Eleven also participated in the recent round.

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“The Internet of Things space is expanding rapidly, but legacy solutions are constrained by a single network or network technology which is a major pain-point for device and network operators,” Robby Hamblet, TEAL co-founder and CEO, told Built In via email. “TEAL’s credentialing service can give its customers programmable access to virtually every data network in the world through a single platform, expanding beyond public cellular networks to offer customers access to private cellular networks, satellite networks, LoRaWAN networks, and network technologies that don't even exist today.”

With the new funding, the company plans to more than double its current headcount within the next twelve months, according to Michael Johnston, TEAL co-founder and chief business officer. Currently at nearly 50 employees, the team will grow to include over 100. TEAL is also expanding its footprint into international markets and incorporating additional mobile network operators and network tech to its platform.

“The proliferation of IoT devices, combined with the rollout of 5G networks, is a game-changer that creates a whole set of new opportunities and possibilities for edge technologies,” Johnston told Built In via email. “5G’s lightning-fast connection and low-latency are needed advancements for the digital future and emerging technologies such as AI, driverless cars, digital reality and blockchain will all benefit from this convergence. However, accessing these networks can be challenging, which is where TEAL bridges the gap.”  

In accordance with the company’s ongoing hiring efforts, TEAL currently lists a range of available positions on its site spanning sales, business development, marketing, customer success, product and engineering.

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