Total amount raised
$22.9 Million
Latest funding date
03/01/2022
Location
Teal has successfully raised funding over three rounds, with the latest being a Series A involving investors like Stormbreaker Ventures and StageDotO. The company is dedicated to providing secure and controllable global connectivity through its innovative eSIM solutions.
Keep reading to explore the intricacies of Teal's fundraising journey and the investors backing this forward-thinking platform.
What Is Teal?
Teal Communications, Inc. is a private company based in Bellevue, Washington, United States. The company operates in multiple industries, including Information Technology, Internet of Things, Mobile, Network Security, Software, and Telecommunications. Teal is on a mission to end roaming and connect any device to any global carrier automatically.
Founded with the goal of providing secure and controllable global connectivity, Teal offers innovative eSIM solutions and a Network Orchestration Service (NOS) that allows seamless switching between leading cellular networks in 196 countries. The company has an employee count ranging from 11 to 50 and is trusted by numerous organizations worldwide for its reliable and flexible connectivity solutions.
How Much Funding Has Teal Raised?
- Seed Round
- Amount Raised: USD 3,000,000
- Date: June 2018
- Lead Investors: StageDotO
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Teal's innovative eSIM solutions and Network Orchestration Service.
- Series A
- Amount Raised: USD 9,100,000
- Date: April 2021
- Lead Investors: StageDotO
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Teal's market reach and enhance its platform capabilities.
- Series A-1
- Amount Raised: USD 10,800,000
- Date: March 2022
- Lead Investors: StageDotO, Stormbreaker Ventures, Capital Eleven
- Valuation at Round: Over $100 million
- Motivation Behind the Round: To support Teal's rapid growth and further develop its IoT connectivity solutions.
Total amount raised: USD 22,900,000. Current valuation: Over $100 million.
Key Investors
- StageDotO Ventures
- Details: StageDotO Ventures is an early-stage investment fund with offices in Seattle, Washington, and Boise, Idaho. They focus on providing capital and strategic support to startups in their initial growth phases.
- Investment Focus Areas: Early-stage investments.
- Notable Investments: Not specified.
- Stormbreaker Ventures
- Details: Stormbreaker Ventures is an investment firm that participated in Teal's Series A-1 funding round. Specific details about the firm are not provided in the sources.
- Investment Focus Areas: Not specified.
- Notable Investments: Not specified.
- Capital Eleven
- Details: Capital Eleven is an investment firm that participated in Teal's Series A-1 funding round. Specific details about the firm are not provided in the sources.
- Investment Focus Areas: Not specified.
- Notable Investments: Not specified.
What's Next for Teal?
Teal stands at the cusp of significant opportunities, driven by its innovative eSIM solutions and Network Orchestration Service. The company is poised to capitalize on the growing demand for IoT solutions across various industries, including Mobility, Healthcare, and Industry 4.0. With access to multiple native 5G networks, Teal's platform is set to revolutionize connectivity, offering a seamless experience for enterprise customers worldwide.
As Teal continues to expand its market reach, future fundraising opportunities appear promising. The company's impressive growth and recent funding rounds suggest that it will continue to attract investment, potentially leading to strategic acquisitions that enhance its technology and market presence. However, Teal must navigate challenges such as competition from other IoT platform providers and the need to keep pace with rapidly evolving networking technologies.
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