Salesforce Ventures, the corporate venturing arm of customer relationship management software producer Salesforce, has led a $24m funding round for US-based internet-of-things (IoT) integration technology provider IFTTT.
Computing technology provider IBM and smart door system manufacturer Chamberlain also contributed to the round, as did venture capital firm Fenox Venture Capital.
Founded in 2010, IFTTT has created a platform that enables devices and apps such as smart assistants, social media platforms and connected cars to connect and integrate, creating ‘applets’ which harmonise the execution of tasks across multiple industries.
John Somorjai, executive vice-president of Salesforce Ventures, said: “IFTTT is at the forefront of establishing a more connected ecosystem for devices and services.
“It is a prime example of the amazing innovation and commitment to customer success that we look for in our portfolio companies.”
The company will put the cash towards a recruitment drive as it looks to expand the platform and target additional industries. It has now raised a total of $63m in funding, it said.
VC firm Norwest Venture Partners led IFTTT’s $30m series B round in 2014 with participation from Andreessen Horowitz, which had itself led the company’s $7m series A in 2012, which also featured New Enterprise Associates (NEA) and Lerer Ventures (now Lerer Hippeau).
IFTTT had closed a $1.8m seed round at the start of 2012, securing cash from NEA, Lerer Ventures, Betaworks, Greylock Partners, CrunchFund, Founder Collective, SV Angel and angel investors Roger Sippl, Peter Kirwan, Joshua Schachter, David Tisch, Ohad Pressman and Gunderson Dettmer.