Particle Reports Record Year with 156 Percent Revenue Growth in 2018
IoT platform leader gains market momentum, quadrupling device deployment for enterprise customers and growing headcount by 73 percent
SAN FRANCISCO, May 8, 2019 /PRNewswire/ -- Particle, the most widely used Internet of Things (IoT) platform, today announced impressive organizational and customer growth, reflecting strong demand for IoT deployments across an array of industries.
Particle recorded several major milestones in the last year, including:
- Nearly doubling headcount of full-time employees across the globe (73 percent) to fuel new product development
- Launching in-demand products, including mesh networking hardware, Intelligent Firmware Releases and Particle Workbench, an all-in-one desktop experience for IoT development
- Quadrupling the number of devices deployed for enterprise customers and increasing enterprise deals by 140 percent
- Increasing platform revenue by 156 percent
- Establishing its Shenzhen R&D hub to further invest in hardware product development
"The numbers are clear: businesses around the world are increasingly turning to IoT to solve real business problems," said Particle co-founder and CEO Zach Supalla. "Our impressive momentum reflects the power of our mission: making it easy for enterprises to quickly deploy and bring profitable and reliable IoT products to market. We are well-positioned to continue our rapid growth as a one-stop shop for all IoT needs, and are uniquely suited to help our customers navigate thorny but increasingly common conversations around privacy, security and data ownership."
Particle's suite of products has become the go-to choice for developers and enterprises, enabling rapid prototyping and a swift road to scale. New industry-leading tools include Particle Workbench, a professional developer environment built on Microsoft's Visual Studio Code in collaboration with their team to deliver a custom experience optimized for IoT. Additionally, Intelligent Firmware Releases will now be fully integrated into the Particle platform, enabling customers to deliver over-the-air updates at the ideal moment. This feature provides the fastest and safest way to update firmware on fleets of IoT-enabled devices without the hassle of having to build on top of existing solutions.
More than 8,500 businesses, including Jacuzzi, Watsco and Canary Compliance, rely on Particle technology to develop and scale revenue-driving connected products. Jacuzzi recently teamed up with Particle to develop Smart Tubs, bringing the product to market in just six months. By adding IoT capabilities, the hot tub manufacturer saved more than $2 million by monitoring performance remotely and applying predictive maintenance.
"Amid a sea of IoT noise, Particle stood out as a full-stack partner committed to powering business outcomes," said Larry Ovalle, Jacuzzi's director of marketing, strategic growth. "Particle's X-factor was its team's ability to quickly understand our business and be an active participant in driving our strategy and technical implementation."
In the past year, Particle has also expanded its active developer community. With more than 170,000 participants, activity in its developer forum is more than triple that of organizations such as GE, Intel and Samsung. Of the public IoT projects live on Hackster today, the Particle platform is chosen nearly four times more frequently than other platforms such as Twilio, AWS, Azure and Intel.
"Particle has continued to exceed the performance and technology expectations of its customers," said Avidan Ross, managing partner of Root Ventures. "Impressively, the company delivers scalable enterprise-grade IoT solutions, while continuously surprising organizations by effortlessly integrating their bleeding-edge technology so they can quickly get on to solving problems."
PR Contact:
Chelsea Robie
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About Particle
Particle helps connect anything to the internet. The company provides a scalable, reliable and secure Internet of Things platform that enables any enterprise or developer to easily build, connect and manage any device and unlock the power of the IoT. More than half the Fortune 500 have deployed the company's hardware and software offerings to add value and reduce costs, with customers ranging from global energy provider Engie and design studio Ideo to indoor crops provider Grow Labs and coffee pioneer Keurig. To learn more, visit Particle.io.
SOURCE Particle
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