Wyebot Raises $8 Million to Meet Growing Market Demand and Scale its Industry-Defining WiFi Automation Capabilities
Funding round, led by Stage 1 Ventures, empowers further development of Wyebot’s award winning, AI-driven Wireless Intelligence Platform
MARLBOROUGH, Mass., May 05, 2022 (GLOBE NEWSWIRE) -- Wyebot, the industry leader in AI-driven WiFi automation, today announced it has closed an $8 million Series A funding round to further commercialize its industry-leading Wireless Intelligence Platform (WIP) and meet expanding market demands across industries including the distributed enterprise, education, healthcare, manufacturing and warehousing. Stage 1 Ventures led the funding round, while existing investors Tectonic Ventures, Innospark Ventures and Launch Capital also participated.
With the ability to proactively eliminate mission-disrupting WiFi issues from any location, Wyebot and its WIP have proven to be a valued resource that is in great demand in today’s WiFi-reliant business ecosystem, where so much is dependent on an optimized WiFi network. Whether it be a large-scale manufacturer with multiple locations across the globe, or multi-building campuses, like hospitals and schools, Wyebot’s WIP provides IT departments with remote network automation, so they can efficiently identify and troubleshoot WiFi issues without ever having to be onsite.
“Wyebot has witnessed significant and growing demand, with the evolution of the mobile enterprise and explosion of IoT devices for a solution that leverages automation to proactively identify and address WiFi performance issues, and our investors realized that” said Roger Sands, CEO and Cofounder of Wyebot. “We will continue to lead this market transformation and deliver innovative solutions to ensure business continuity for our customers.”
Businesses of all kinds are dependent on their WiFi to maintain daily operations, and Wyebot has proven the ability to keep networks optimized and organizations running smoothly. In hospitals, Wyebot’s AI-driven sensors ensure life-saving technologies are constantly connected to the network while manufacturers rely on Wyebot to ensure machinery is working properly so they can avoid supply chain concerns.
“Proven by its incredible market demand and impressive client roster, Wyebot is an innovator that has a solution for addressing a critical business problem - ensuring an efficient and reliable WiFi,” said David Baum, Partner at Stage 1 Ventures. “Wyebot has continued to adapt and develop its awarding winning product, firmly establishing itself as the industry leader in eliminating critical WiFi issues across industries.”
Wyebot is the leader in AI-driven WiFi Automation. Its vendor agnostic Wireless Intelligence Platform™ monitors, analyzes and using its patented AI-based engine and market-leading multi-radio sensor, automatically provides problem identification with solutions resulting in up to a 90% reduction in meantime to problem resolution, up to a 70% reduction in WiFi problem tickets, and a reduction in onsite problem-solving visits by up to 80%. For more information, please visit https://wyebot.com.