Lumavate, LLC, a Carmel, Ind.-based provider of a platform that connects products and end-users, raised an additional $2m in funding.
The round was led by Indianapolis-based tech entrepreneur Don Brown with participation from Elevate Ventures and Allos Ventures, and 4G Ventures and Collina Ventures, and other private investors. In addition to the funding, technology veteran John True joined the Lumavate Board of Managers.
The company intends to use the capital to scale sales and marketing efforts and increase product development efforts around the opportunity for customer experience solutions related to the Internet of Things (IoT).
Led by Paul McGrath, CEO, Lumavate provides a SaaS based platform that combines smart packaging with IoT to enable the connection of products and end-users at key moments in a product’s lifecycle. Lumavate aims to create a new, captive channel that companies own and control – enabling them to monetize their IoT strategy and open new revenue streams to accelerate their growth.