Not only has the Internet penetrated the services we use, but it is rapidly becoming a part of our devices as well. Known as the Internet of Things (IoT), today the Internet is being used to access almost everything from mobile phones to wearable devices, washing machines, house lights, and other such appliances. According to a Cisco report, last year, there were 13 billion devices that could connect to the Internet. Cisco expects that number to go to 50 billion by 2020. Gartner has a more conservative estimate of 26 billion connected devices by 2020.
Jasper Technologies’ Offerings
Mountain View-based Jasper Technologies, formerly Jasper Wireless, was founded in 2004 when the term Internet of Things was not even coined. It came about when current CEO and founder Jahangir Mohammed had to take a detour to get his car’s “check engine light” fixed while driving out to Tahoe. The trip to the mechanic revealed that the “check engine light” needed a simple reset. But that incident made Mr. Mohammed realize that if his car were connected to the Internet, it could have reset the switch itself, saving him the detour. That incident led to the formation of Jasper.
Today, Jasper is among the leading platforms for the IoT market. They are a pioneer in offering cloud based solutions that help organizations launch, manage, and ultimately monetize the deployment of Internet of Things worldwide. Jasper’s cloud-based offering includes a platform that helps connect machines, cars, and mobile devices across the world. Their highly scalable platform can be customized across verticals to deliver higher rate of returns to the organizations.
Jasper’s customer list includes more than 1,000 organizations with more than 19 mobile operators worldwide and 11 car companies. Products built on their platform include Baby Pajamas that convey vital statistics to doctors to airplane engines that are connected to support real-time preventative maintenance. Jasper’s initial vision of creating connected cars has been adopted by companies like GM, Nissan, Ford, VW, and Tesla. Their platform is helping automobile manufacturers deliver real-time information on traffic, weather, entertainment, and are providing basic over-the-air maintenance services, thus helping the automobile industry in opening up new revenue streams. Within devices, Jasper is used by Amazon Kindles and the Sony Playstation Vita. For home products, companies like Alarm.com, Telular, Vivint, and Securitas Jasper’s solution helps homeowners manage energy use and provide detail on security using apps and connected sensors.
Jasper has kept their financials under tight wraps. They have only disclosed that revenues have grown more than 100% for the last two years. Jasper expects to see revenues grow 300% this year. They have been venture funded so far with $205.3 million raised from six funding rounds from investors including Temasek Holdings, AllianceBernstein, Sequoia Capital, and Benchmark. Their latest round of funding was held last month when they raised $50 million from Temasek Holdings at a valuation of $1 billion. Jasper plans to use these funds for continued product development and innovation.