June 19, 2018 – Rigado Inc., a global provider of commercial IoT Edge-as-a-Service solutions, today announced it has closed a $15 million Series A round of funding, led by Madrona Venture Group with participation from Vanedge Capital, Rogue Ventures, FusionX Ventures and the Oregon Venture Fund. The investment will be used to meet growing market demand for Rigado solutions that provide connectivity, computing and security for large-scale IoT applications such as smart buildings, asset tracking and connected retail. In addition, the funding will be used to help Rigado further extend its global footprint. Joining the board will be Len Jordan from Madrona and Moe Kermani from Vanedge Capital.
“Rigado’s rapid growth, fueled by its unique hands-on understanding of the challenges posed by Commercial IoT is impressive,” said Len Jordan, Managing Director at Madrona Venture Group. “Our investment in Rigado is a reflection of its proven ability to address a significant market need through Edge-as-a-Service solutions that deliver substantial ROI for teams deploying large-scale IoT applications.”
Rigado Cascade Edge-as-a-Service
Rigado recently announced Cascade, its integrated Edge-as-a-Service solution for IoT edge connectivity, computing and security. Offered as a simple monthly subscription, Rigado Cascade reduces the complexity, risk and cost of large-scale commercial IoT deployments.
Bert Van Hoof, Group Program Manager of Azure IoT, Microsoft, stated, “As a valuable part of the Microsoft Azure IoT ecosystem, Rigado solutions allow companies to accelerate the development and deployment of their smart building initiatives, finding their way to profitable solutions faster. While IoT initiatives can present companies with potential complexity and risk, Rigado solutions help organizations bring IoT to market faster with greater security and lower cost.”
In the year since Rigado announced $5.2M in seed funding, the company has seen rapid year-over-year growth fueled by accelerated new product development. It opened an EMEA headquarters in London and seeks to continue to extend its international footprint with today’s funding.
“The past year has seen very strong growth and interest from commercial organizations and their IoT partners,” said Ben Corrado, CEO, Rigado. “We’re proud to be working with innovative companies who use Rigado’s edge infrastructure to deploy their IoT applications on a global scale. From faster time to ROI to greater security and enhanced management, we look forward to further accelerating Rigado innovation and extending our solutions to more enterprises worldwide.”
Founded in 2010, Rigado was recently ranked a Top 10 fastest growing privately-held business in Oregon by the Portland Business Journal. Rigado’s edge solutions power more than 300 global customers and 5 million connected devices across Commercial IoT solutions such as Asset Tracking, Smart Lighting, and Sensing and Monitoring in markets like Smart Workplaces, and Connected Retail and Logistics. Rigado is headquartered in Portland and Salem, Oregon with offices in London, UK and Shenzhen, China. Rigado can be reached at www.rigado.com.