Total amount raised
$68 Million
Latest funding date
08/01/2024
Location
Butlr has successfully raised funding over seven rounds, with the latest being a Venture - Series Unknown round. The company is backed by a total of 45 investors, including notable names like Wistron Corporation and Ricoh.
Keep reading to explore the intricacies of Butlr's fundraising journey and the investors backing this innovative platform.
What Is Butlr?
Butlr is a pioneering company in the field of artificial intelligence, specializing in wireless anonymous people sensing and occupancy detection solutions. Based in Burlingame, California, Butlr operates within the AI, electronics, machine learning, sensor, and software industries.
Founded with a mission to provide advanced technology solutions, Butlr has grown to employ between 51-100 people. The company’s innovative platform is designed for intelligent buildings, offering privacy-first, heat-based sensing solutions that deliver real-time activity insights.
How Much Funding Has Butlr Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: 500 Global, SOSV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial prototypes and validate the technology.
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 2020
- Lead Investors: Tectonic Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue product development and early market testing.
- Seed Round
- Amount Raised: USD 8,000,000
- Date: May 2021
- Lead Investors: Hyperplane
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the team and expand market reach.
- Series A Round
- Amount Raised: USD 22,000,000
- Date: July 2022
- Lead Investors: Ray Stata, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and enter new markets.
- Grant
- Amount Raised: Not publicly disclosed
- Date: October 2023
- Lead Investors: MassAITC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support research and development initiatives.
- Series B Round
- Amount Raised: USD 38,000,000
- Date: August 2024
- Lead Investors: Foundry Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To meet the growing demand for sensors and improve technology for faster emergency response and healthcare interventions.
- Series Unknown Round
- Amount Raised: USD 7,000,000
- Date: January 2025
- Lead Investors: Ricoh
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market presence and enhance product capabilities.
Total Amount Raised: USD 75,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Ricoh
- Details: Ricoh is a global technology company specializing in office equipment, digital services, and IT services. Founded in 1936, Ricoh has a strong presence in over 200 countries.
- Investment Focus Areas: Office equipment, digital services, IT services.
- Notable Investments: Not publicly disclosed.
- Foundry Group
- Details: Foundry Group is a venture capital firm based in Boulder, Colorado, established in 2007. The firm manages over $3 billion and has invested in hundreds of companies.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Fitbit, SendGrid, Zynga.
- MassAITC
- Details: MassAITC is an organization focused on advancing technology and innovation. It supports various tech initiatives and startups.
- Investment Focus Areas: Technology, innovation.
- Notable Investments: Not publicly disclosed.
- Ray Stata
- Details: Ray Stata is a prominent individual investor known for his contributions to the technology sector. He is the co-founder of Analog Devices, a major semiconductor company.
- Investment Focus Areas: Technology, innovation.
- Notable Investments: Not publicly disclosed.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on public and private companies in the internet, software, consumer, and financial technology sectors. Founded in 2001, it has a global investment portfolio.
- Investment Focus Areas: Internet, software, consumer, financial technology sectors.
- Notable Investments: Not publicly disclosed.
What's Next for Butlr?
Butlr stands at the cusp of significant growth, driven by the increasing demand for its AI-powered sensors across various sectors. The company is poised to expand its presence in senior living communities, workplaces, and retail environments, leveraging its technology to enhance safety, energy efficiency, and space utilization. With the senior living market alone valued at $90 billion, the opportunities for Butlr are vast and promising.
Future fundraising efforts are likely as Butlr continues to scale its operations and refine its technology. The successful Series B round, which raised $38 million, sets a strong precedent for potential future investments. As the company expands into new markets and develops additional product offerings, further funding rounds could be anticipated to support these initiatives.
However, Butlr may face challenges such as scaling production to meet growing demand, ensuring data privacy, and navigating regulatory requirements. The company must also stay ahead of competitors by continuously innovating its technology. Despite these hurdles, Butlr's strategic partnerships and robust financial backing position it well for future success.
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