Bit Stew Systems Completes Initial Closing of Series C to Drive the Future of the IIoT Ecosystem
May 19, 2016
Burnaby, BC – Bit Stew Systems, developer of the premier platform that solves the data integration challenge in the Industrial Internet of Things (IIoT), today announced the initial closing of Series C funding to help advance the company’s global market growth and development plans.
The undisclosed investment round includes an international syndicate of new and current investors including Yaletown Partners, GE Ventures, BDC Capital and Kensington Capital Partners.
“This additional funding from leaders in the Industrial Internet and investment community reflects a time of ongoing technology innovation, revenue growth, and new customer and partner adoption for our company,” says Kevin Collins, CEO at Bit Stew. “This investment re-affirms the venture capital community’s continued confidence in our team, our unrivaled MIx Core™ platform, and the enormous market opportunity that lies ahead for Bit Stew in the IIoT.”
“Bit Stew is firmly positioned as a global leader in the Industrial Internet of Things space,” says Salil Munjal, Bit Stew Board Member, and General Partner at Yaletown Partners, Bit Stew’s largest investor. “Accolades from Forbes and Gartner recognize Bit Stew’s technology innovation, visionary leadership and rapid growth – achievements that we believed possible when Yaletown led the first institutional round for Bit Stew in 2013. The company has understandably attracted some top global investors to join us as shareholders including GE and Cisco.”
Author: Bitstew Systems
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