Total Internet of Things funding was a good deal higher, at $752 million. This was spread over 112 deals, for an average deal size of $6.7 million. Of course, perennial favorites like Nest, with their learning thermostat and suspiciously intelligent smoke detector, probably took an outsized portion of the money, so perhaps the real average deal size is more in the $3-4m range.
This suggests a relatively young industry, with lots of series As (which tend to be in the $1m to $5m range). It’ll be interesting to see how the overall funding amount and the average deal sizes change as the industry continues to mature. Hopefully some of these smaller companies will stick around long enough to do follow on funding and continue growing.
Sand Hill Rd photo credit Mark Coggins, Creative Commons