Tile raises $3M in Series A Extension

What does Tile do?

Tile, is a location tracking device and app for tracing valuable if they are lost. It has invented a sleek and simple location tracking app which can be used for tracking any items users do not want to misplace. You can place small and affordable Tiles on your purse, wallet, computers, luggage etc, allowing them to communicate within the lost and found network which is the largest in the world.

This is the first mass market Internet of Things community and device, and has created a user driven network of access points which work together for locating the missing belongings. They have a potential impact which much greater, healthcare, spanning transportation, connected home and energy.

How much Tile was funded?

Tile raised $3M in Series A round on June 9, 2015 from Khosla Ventures .

Previous funding

$200k in Seed round on February 20, 2013 from Tandem Capital

$2.6M in Product Crowdfunding on July 24, 2013

$3.5M in Seed round on September 30, 2014 from Tencent Holdings

$9.5Min Series A funding on October 2, 2014 from Khosla Ventures which invested $3M, GGV Capital, Charles Huang, Michael Lazerow, Bob Lee, Kass Lazerow and other angel investors.

What is next for Tile?

The company has announced many business milestones as it is nearing its 2 year crowd funding anniversary, which includes the Series A extension funding. It has shipper 2 M Tiles to date. It has recently expanded to UK, Canada, Australia and New Zealand. It has scaled up its hiring to triple its number of employees.

The latest funding will be used to continue its scaling to meet the needs of its growing community, to introduce new products and for expanding its platform.

More about Tile

Tile was founded on December 1, 2012 by Mike Farley and Nick Evans. It has its headquarters in San Mateo, CA.