WigWag, the maker of a platform for connecting devices in the home through the Internet, announced this week it has raised $3.175 million in seed funding.
The Austin based startup, founded in 2011, received the funding from Palo Alto-based CSC Venture Capital. It plans to use the money on product development and to hire more sales and marketing staff and to launch its platform and consumer products. The company is also hiring for software development and testing.
“According to Gartner, by 2022 the typical U.S. household will contain over 500 connected devices,” Ed Hemphill, WigWag co-founder and CEO, said in a news release. “As we enter into a Jetson-esque age of true smart environments, the world of traditional Internet protocol networking will merge with IoT technologies. That massive change, which involves more intelligence being placed at the network edge, creates a tremendous challenge for traditional network equipment manufacturers and a tremendous opportunity for us.”
In 2013, WigWag raised $454,976 from 1,694 backers on Kickstarter. The company began shipping products to its customers this month, according to its Kickstarter update.
WigWag’s platform lets consumers connect all kinds of devices in their home including lights, thermostat, security system and more.
“CSC Venture Capital invests in companies that have the capacity to radically transform new markets and where we see major trends on the cusp of significant adoption,” Veronica Wu, President of CSC Group International Corp. said in a news release. “We believe the timing is right for the Internet of Things. However, navigating the plethora of standards/protocols pose significant challenge for adoption. We believe WigWag’s technology could dramatically simplify go to market for companies wanting to deliver intelligent and secure IoT solutions to consumers.”