Hologram Announces $65 Million in Series B, Led by Tiger Global
A Market Leading IoT Connectivity Platform Secures New Funding and Plans to Triple its Team on its Mission to Connect the Physical World to the Internet
CHICAGO, Aug. 10, 2021 /PRNewswire/ -- Hologram, a cellular connectivity platform for IoT devices that allows companies to manage fleets of devices globally, today announced its Series B funding round of $65 million. The round was led by Tiger Global, with participation from Bullpen Capital, NextView Ventures, and Mucker Capital.
"It's my belief that iconic companies require iconic cultures. We're excited to use this new capital to grow our team while staying true to our core values of transparency, mindfulness, and ownership," said Ben Forgan, CEO and co-founder of Hologram. "We're committed to building Hologram into a place where employees can do the best work of their careers."
Along with Forgan, Hologram was co-founded by Pat Wilbur, an expert on cybersecurity. The two co-founders launched Hologram in 2014 and have grown it to more than 470 carriers in 200 countries. Hologram is currently trusted by thousands of businesses in nearly every vertical from healthcare to micromobility to manufacturing across six continents. With this funding, Hologram plans to more than triple its team from 70+ employees to 225+ employees. The organization will also further develop its proprietary connectivity management technology and grow across key use-cases, including fleet & asset management and sensors.
"Hologram's global reach, developer-centric approach and strength across end markets positions the company to be the default solution to securely connect devices to the internet," said Evan Feinberg, partner at Tiger Global. "We think the team is poised to extend their market leadership as the number of devices connected to the internet continues to grow."
The round takes Hologram to a total of $80 million raised in equity capital. Additionally, as part of their Series B, Hologram has allocated $5 million to angel investors, primarily focusing on underrepresented groups including women and people of color. The plan includes adding an independent board member, which further underscores Hologram's commitment to equity, diversity and inclusion.
About Hologram
Hologram's mission is to connect any device to any network, instantaneously, anywhere. With Hologram, SIM cards automatically switch network access to the best coverage across more than 470 carriers in 200 countries. To learn more about Hologram, please visit www.hologram.io. Join Hologram on social media at Twitter here, Facebook here, and LinkedIn here.
About Tiger Global Management
Tiger Global Management is an investment firm focused on private and public companies in the internet, software, and financial technology sectors. Since 2001, Tiger Global has invested in hundreds of companies across more than 30 countries, including investments ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in its core focus areas. Tiger Global's investments have included JD.com, UiPath, Stripe, Databricks, Bytedance, Snowflake, Facebook, Alibaba, Procore, Chime, Blend, Peloton, Attentive, LinkedIn, Flipkart, and Toast.
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SOURCE Hologram
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