TempoDB Raises $3.2 M to Pursue Internet of Things
Chicago-based TempoDB, a technology company that stores and analyzes large amounts of time-specific data captured by Internet-connected sensors, has raised $3.2 million in funding from a group of mostly local investors.
The fresh capital brings TempoDB’s total funding to $4.2 million and will allow it to hire more software engineers and sales staff. In August, when TempoDB outgrew its office at Catapult, a shared space in River North for startups, it had six full-time employees. It plans to add four employees this year and another eight in 2014. The company was founded in December 2011 and makes technology that stores billions of time-related data points from sensors such as thermostats. Its customers represent sectors such as energy, infrastructure and health care.
Read more in the Chicago Tribune