Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Ayla Networks (“Ayla” or the “Company”), a leading advanced end-to-end IoT platform that connects devices and provides unmatched analytical capabilities, in a growth equity capital raise led by Arrowroot Capital (“Arrowroot”).
Ayla is a leader in global Internet of Things (IoT) platforms that accelerate digital transformation for product manufacturers, service providers, and enterprise companies. The Company’s IoT platform fast-tracks the development, support, and ongoing enhancements of connected products and allows companies to unlock edge data generated through device operation to enhance productivity and reduce operational expenses. Offered as a managed cloud Platform-as-a-Service (PaaS), Ayla is enabling some of the largest companies in the world to turn everyday home controls and appliances, commercial and gateway devices into intelligent systems that provide real-time data and drive business transformation.
The capital raised will support the Company’s ability to further deepen their offering in the consumer device market and swiftly expand their presence amongst service providers by bolstering their sales and marketing team. Additionally, Arrowroot’s investment will accelerate the Company’s deployment of their AI/ML products, particularly with service provider end users.
“We have seen substantial growth in recent years and believe that IoT is going to experience enormous expansion in the near-term,” said Jonathan Cobb, CEO of Ayla. “The opportunities that we have today are tremendous across the industries that we serve. Thanks to Cascadia Capital, we have secured a valuable partnership with Arrowroot that will provide the necessary resources to support Ayla with its strategic plan.”
Yee Lee, Senior Vice President at Cascadia Capital added, “Tailwinds in the IoT market will continue to drive the adoption of connected devices and the digital transformation across various end markets. Successful IoT companies are beginning to realize the amount of data being collected and are developing monetization strategies with use cases such as predictive maintenance, condition monitoring and optimization. Ayla has set itself apart as a leading IoT player and will continue to see accelerated deployments in its growth markets.”
For more information about this transaction, please the contact Cascadia Capital deal team:
Senior Vice President