sensemetrics Completes More Than $10 Million in Financing to Advance Global IIoT

According to a recent release, sensemetrics has completed a Series A financing round to advance its global growth in the Industrial IoT (IIoT) sensor market. With the addition of the new funding, the San Diego-based company, founded in 2014, has received more than $10 million in financing to date. The Series A funding round is led by X2 I Equity, an investor in growth stage industrial high-tech companies based in Munich with offices in the U.S. and China. Existing investors, including Mooring Ventures and Three Curve Capital, will join X2 | Equity in the round. sensemetrics serves Fortune 500 companies and other businesses, offering an innovative IIoT sensor platform that reduces the cost and complexity of introducing IoT strategies into industrial environments. It will use the financing to further develop its engineering capabilities as well as its core platform, and increase sales and support functions in San Diego, Calif. and Denver, Colo. to expand its presence in core verticals in its growing North American Free Trade Agreement (NAFTA) business.  “sensemetrics evaluated numerous financing options when looking towards our next phase of growth,” said Matt Meehan, CEO, sensemetrics. “The decision to partner with X2 Equity was driven by their deep background in industrial technologies as well as the support structure that they have put in place to be an active force in expanding our core technology into new regions and markets.