Tile, the company that makes connected devices – which you add to keychains, bags, suitcases, laptops, or keep in your wallet in order to track items when they go missing – today announced it has raised a Series B-1 round of new funding, led by Bessemer Venture Partners. In addition, Tile noted it has now hit two major milestones for its business: $100 million in revenue in 2016, and 10 million total units sold.
The new round included participation from existing investors GGV Capital and Khosla Ventures, as well as new investor Lead Edge Capital. To date, Tile has raised $59 million.
The company manufactures two styles of its devices, its original keychain dongle called the Tile Mate, and its thinner device designed to be inserted into wallets, called the Tile Slim. These devices work alongside a mobile application which can be used to locate the missing items. If you can’t find your keys, for example, you launch the app and hit the “Find” button, and they’ll ring when you’re within Bluetooth range.
