Zonoff, the Malvern company whose technology powers Staples’ connected-home offerings, just raised a $31.8 million Series B. Investors include Valhalla Partners and Grotech Ventures — Vienna, Va.-based investors who previously invested in the company — along with other strategic and venture investors, according to a release. The raise comes roughly 18 months after its $3.8 million Series A.
The raise will primarily be used to hire more staffers and “accommodate additional market expansion,” a spokeswoman said. The company has 45 full-time employees and is looking to double that over the next year. See open positions here.
In a statement, Valhalla Partners general partner Kiran Hebbar said that one of Zonoff’s selling points is that the company is not in the hardware business.
“This is a very valuable position for the company as it does not compete with its various partners that either make or sell connected devices,” he said.
In July, the company, led by CEO Mike Harris, expanded its partnership with Staples after a successful pilot. Its technology, which powers Staples Connect, is now sold in 500 Staples stores.
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