Hologram, a Chicago headquartered connectivity platform for IoT devices that enables corporations to handle fleets of devices worldwide, has secured US$ 65 million in a Series B funding round led by Tiger Global Management on 10 August 2021.
Investors: The latest investment round featured Tiger Global Management, a global leading investment firm, as the lead investor with participation from Bullpen Capital, NextView Ventures, and Mucker Capital. The startup has raised, in total, US$ 80 million in equity capital.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round towards increasing the size of its team from over 70 to more than 225 personnel. It also aims to utilize funds to develop its connectivity management tech further and expand across important use-cases, including fleet and asset management and sensors.
About Hologram
Established in 2014 by Benjamin Forgan and Patrick Wilbur, Hologram assists corporations in managing their fleets of devices worldwide with the help of its cellular connectivity platform. The co-founders have expanded the organisation to more than 470 carriers in 200 nations. Hologram concentrates on spontaneously switching the network access to the most strong coverage, allowing devices to remain connected seamlessly. Furthermore, Hologram delivers its clients an unparalleled, cloud-based dashboard that provides 24/7 visibility to device usage, data regulations, billing, and other offerings through a single platform. The firm has allotted US$ 5 million to angel investors as part of the latest round, fundamentally concentrating on underrepresented sections of society, comprising both women and people of colour. Presently, the startup caters to a number of enterprises in approximately all domains ranging from healthcare to micromobility and manufacturing spread across six continents.
What the Founder has to say: “I strongly believe that iconic corporations demand iconic practices and cultures. It is exhilarating to utilize the latest funds to triple the size of our team while being true to our pivotal ethics of transparency, mindfulness, and ownership. We have remained committed to developing Hologram into an organisation where employees can perform the finest work of their careers.”- Ben Forgan, CEO and Co-Founder of Hologram.
What the Investors have to say: “The global reach, developer-centric attitude and strength across end markets has well-placed Hologram to become the primary solution for safely connecting devices with internet. An increase in the number of devices connected to the internet validates our belief that the firm is on the path to stretch its market leadership.”- Evan Feinberg, Partner at Tiger Global Management.
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