Total amount raised
$75M
Latest funding date
2025-01-01
Location
Butlr has successfully raised funding over seven rounds, with the latest being a Venture - Series Unknown round. The company is backed by a total of 45 investors, including notable names like Wistron Corporation and Ricoh.
Keep reading to explore the intricacies of Butlr's fundraising journey and the investors backing this innovative platform.
What Is Butlr?
Butlr is a pioneering company in the field of artificial intelligence, specializing in wireless anonymous people sensing and occupancy detection solutions. Based in Burlingame, California, Butlr operates within the AI, electronics, machine learning, sensor, and software industries.
Founded with a mission to provide advanced technology solutions, Butlr has grown to employ between 51-100 people. The company's innovative platform is designed for intelligent buildings, offering privacy-first, heat-based sensing solutions that deliver real-time activity insights.
How Much Funding Has Butlr Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: 500 Global, SOSV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial prototypes and validate the technology.
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 2020
- Lead Investors: Tectonic Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue product development and early market testing.
- Seed Round
- Amount Raised: USD 7,900,000
- Date: July 2021
- Lead Investors: Hyperplane
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the team, expand market reach, and advance the people-sensing platform for the built environment.
- Series A Round
- Amount Raised: USD 20,000,000
- Date: July 2022
- Lead Investors: Tiger Global Management, Ray Stata, Primetime Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features, grow the go-to-market team, and enter new markets including a strategic agreement with Carrier Global.
- Grant
- Amount Raised: Not publicly disclosed
- Date: October 2023
- Lead Investors: MassAITC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support research and development initiatives in AI-based aging and connected care.
- Series B Round
- Amount Raised: USD 38,000,000
- Date: August 2024
- Lead Investors: Foundry
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To meet the growing demand for sensors, expand presence in senior living communities, and improve technology for faster emergency response and healthcare interventions. Participating investors included Tectonic Ventures, E14 Fund, Hyperplane Ventures, and Union Labs Ventures.
- Strategic Investment Round
- Amount Raised: USD 7,000,000 (combined; individual amounts undisclosed)
- Date: April 2025 (Ricoh investment announced January 2025; round completed April 2025)
- Lead Investors: Ricoh (via RICOH Innovation Fund), Wistron, Taiwan Global Angels (TGA)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market presence, strengthen workplace experience solutions, and enhance product capabilities through strategic partnerships.
Total Amount Raised: at least USD 75,000,000 based on disclosed funding (pre-seed amounts undisclosed). Current Valuation: Not publicly disclosed.
Key Investors
- Ricoh
- Details: Ricoh is a global technology company specializing in office equipment, digital services, and IT services. Founded in 1936, Ricoh has a strong presence in over 200 countries. It invested in Butlr via the RICOH Innovation Fund CVC.
- Investment Focus Areas: Office equipment, digital services, IT services.
- Notable Investments: Not publicly disclosed.
- Foundry
- Details: Foundry (formerly Foundry Group) is a venture capital firm based in Boulder, Colorado, established in 2007. The firm manages over $3 billion and has invested in hundreds of companies. Foundry led Butlr's $38M Series B in August 2024.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Fitbit, SendGrid, Zynga.
- MassAITC
- Details: MassAITC is the Massachusetts AI and Technology Center for Connected Care in Aging and Alzheimer's Disease, focused on advancing AI-driven innovation in healthcare and aging. It provided a grant to Butlr for research in fall prevention and frailty detection among seniors.
- Investment Focus Areas: Technology, AI, aging care, innovation.
- Notable Investments: Not publicly disclosed.
- Ray Stata
- Details: Ray Stata is a prominent individual investor and the co-founder of Analog Devices, a major semiconductor company. He co-led Butlr's $20M Series A in July 2022 and joined Butlr's board of directors.
- Investment Focus Areas: Technology, innovation.
- Notable Investments: Not publicly disclosed.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm focused on public and private companies in the internet, software, consumer, and financial technology sectors. Founded in 2001, it has a global investment portfolio. Tiger Global co-led Butlr's Series A in July 2022.
- Investment Focus Areas: Internet, software, consumer, financial technology sectors.
- Notable Investments: Not publicly disclosed.
What's Next for Butlr?
Butlr stands at the cusp of significant growth, driven by the increasing demand for its AI-powered sensors across various sectors. The company is poised to expand its presence in senior living communities, workplaces, and retail environments, leveraging its technology to enhance safety, energy efficiency, and space utilization. With the senior living market alone valued at $90 billion, the opportunities for Butlr are vast and promising.
Future fundraising efforts are likely as Butlr continues to scale its operations and refine its technology. The successful Series B round, which raised $38 million, sets a strong precedent for potential future investments. As the company expands into new markets and develops additional product offerings, further funding rounds could be anticipated to support these initiatives.
However, Butlr may face challenges such as scaling production to meet growing demand, ensuring data privacy, and navigating regulatory requirements. The company must also stay ahead of competitors by continuously innovating its technology. Despite these hurdles, Butlr's strategic partnerships and robust financial backing position it well for future success.
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