"This has always been a big market but, up until now, it has been far too complex and fragmented for the mainstream"

SensorLogic uniquely delivers the power and efficiencies of cloud computing to the M2M market. The company helps businesses rapidly build and deploy custom applications that leverage its ‘M2M as a Service' offering to connect mobile devices, assets and resources to people and business systems. The company was recently named one of Connected World magazine's "CW100", a prestigious list of the most innovative technology providers of M2M and connected devices. The M2M market is one of the fastest growing segments of the technology industry, with forecasts predicting the number of connected devices worldwide to reach as high as 50 billion over the next ten years.

"SensorLogic's platform is being used by a growing number of strategic partners and customers to deliver a new generation of cloud-based enterprise services," said Michael Campbell, President and CEO, SensorLogic. "Our service delivery platform makes us a disruptive force for carriers, enterprises and other partners. This round of funding, along with the recent additions to our executive team, positions us strongly to extend our leadership position."

The financing round was led by Sevin Rosen Funds and Boston Millennia Partners. Current investors UPS Strategic Enterprise Fund and Covera Ventures also participated.

"This has always been a big market but, up until now, it has been far too complex and fragmented for the mainstream," said Dave McLean, a General Partner at Sevin Rosen. "Over the last 18 months, SensorLogic has emerged with a unique asset management platform and business model for the heart of the enterprise. With its recent customer wins, ecosystem partnerships and significant additions to the management team, the investor group is excited about the company's future."

The company also announced that Brian Alton has joined the company as CFO. Alton is a seasoned CFO with more than 20 years of diverse financial and operational leadership experience in technology and entrepreneurial firms, including start-ups, high-growth and turnaround companies. Prior to SensorLogic, Alton was CFO at RipCode, a leader in transactional video transcoding. Alton has also acted as a CFO and consultant for multiple venture-backed start-ups including Ignite Technologies and Tango Networks. Alton also served as CFO of Cyneta Networks, a wireless data infrastructure company.

Prior to joining Cyneta, Alton was president of the Restaurant Solutions Group of Ez2get.com in Dallas, Texas, where he was responsible for the development, sales and support of several software products used by the restaurant industry. He previously was president and CEO of IntegraTRAK, Inc., a specialty telemanagement software company located in Bellevue, Washington. During his tenure with that company, he achieved growth in sales and operating profits leading to the successful sale of the company.

"Brian's proven track record in helping to build successful companies has already proved valuable to SensorLogic," said Campbell. "I welcome his acumen and insight and look forward to working with him to help make SensorLogic the most highly valued business in this market."