What is IFTTT?
IFTTT operates as the world's leading integration platform, serving over 670 brands and 22 million consumers. The company empowers global enterprises to connect and grow their products into integrated, essential services. By offering a low-code alternative to in-house integration development, IFTTT significantly reduces development costs for its clients while maximizing compatibility and lifetime value. Enterprises such as Amazon, Bosch, Google, iRobot, and Samsung rely on IFTTT for their critical integration solutions, positioning the company as a de facto connectivity standard in the market.
How much funding has IFTTT raised?
IFTTT has raised a total of $38.9M across 4 funding rounds:
Angel/Seed
$1.5M
Series A
$7M
Series B
$30M
Debt
$350K
Angel/Seed (2012): $1.5M with participation from Gunderson Dettmer, Floodgate, BoxGroup, Raymond Tonsing, Lerer Hippeau Ventures, Ohad Eder-Pressman, Founder Collective, Peter Kirwan, Greylock Partners, CrunchFund, Betaworks, David Tisch, and Joshua Schachter
Series A (2012): $7M led by Andreessen Horowitz, Lerer Ventures, and New Enterprise Associates
Series B (2014): $30M supported by Andreessen Horowitz and Norwest Venture Partners
Debt (2020): $350K featuring PPP
Key Investors in IFTTT
Andreessen Horowitz
Andreessen Horowitz is a prominent venture capital firm known for investing in technology companies across various stages. Their focus often includes software, internet, and enterprise solutions, making them a strategic partner for growth-stage companies like IFTTT.
Norwest Venture Partners
Norwest Venture Partners is a global investment firm that provides venture capital and growth equity. They typically invest in companies with strong market potential across sectors like technology and business services, aligning with IFTTT's enterprise focus.
New Enterprise Associates
New Enterprise Associates (NEA) is a venture capital firm that invests in a wide range of technology and healthcare companies. Their involvement suggests a belief in IFTTT's scalable business model and its potential for significant market impact.
What's next for IFTTT?
The recent major strategic investment signals IFTTT's readiness to accelerate its expansion and solidify its position as a leader in the integration platform as a service (iPaaS) market. With a substantial total funding amount of $38.9M, the company is well-equipped to enhance its platform capabilities, expand its enterprise client base, and potentially explore new verticals. The focus on enterprise-level solutions suggests a strategic pivot towards higher-value contracts and deeper integrations with major industry players. Future developments are likely to center on strengthening its low-code offerings and further establishing itself as the go-to connectivity standard for businesses seeking to streamline their digital ecosystems.
See full IFTTT company page
