Ayla Networks, a developer of technology that connects devices online, has closed a $14.5m series B round that featured networking company Cisco’s corporate venturing unit, Cisco Investments.
Cisco invested alongside the World Bank-backed International Finance Corporation, Linear Venture, SAIF Partners, SJF Ventures, and existing investors Crosslink Capital and Voyager Capital.
Founded in 2010, Aylas main product is Agile IoT, a software platform that can help businesses design and develop connected products, even with existing products that are already being used.
The company revealed the latest funding at the same time as it announced plans to focus on expanding its business in China, where web portal Sina began using its technology last year.
“Cisco Investments was quickly able to grasp the huge potential for Ayla’s Agile IoT platform technology and business model,” said Dave Friedman, chief executive of Ayla Networks. “The internet of things represents one of the largest opportunities in technology, and Ayla is fortunate to be able to access the resources, expertise, and relationships that Cisco Investments can bring.”
Ayla has now raised about $20m in total, having secured $5.4m from Voyager and Crosslink in June 2013.