Final Series A Round Led By Middle East Venture Partners (MEVP) with Participation from Berytech Fund and Endeavor Catalyst
NEW YORK — March 8, 2017 — Scriptr.io, the award winning, managed service & enterprise IoT application marketplace, has closed the second and final round of the $5 million Series A funding led by Middle East Venture Partners (MEVP). The closing includes the participation of San Francisco based Endeavor Catalyst and Berytech Fund (BFII).
Based in Beirut, Lebanon, and New York City and helmed by Endeavor Entrepreneur Rabih Nassar, scriptr.io will use the funding to expand business operations in the U.S.
Scriptr.io enables enterprises to create and deliver IoT (Internet of Things) applications with reduced time-to-market and increased cost efficiency, combining agile application creation and a zero-DevOps managed service environment to power open, scalable, and secure IoT applications. Scriptr.io solves interoperability issues between enterprise applications and IoT-based service providers by offering a marketplace of pre-built vertical IoT applications and connectors to major IoT and enterprise systems. As a robust, carrier-grade application engine supporting millions of enterprise users and 100+ applications, scriptr.io can be provided from a cloud based infrastructure or as a fully-managed service delivered on premise or at the edge.
The platform gives users to access:
• A marketplace of more than a 100 connectors to IoT and Enterprise platforms
• More than 60 APIs that dramatically simplify developing applications
• A best-of-breed agile collaborative development and application creation environment
“The series A has allowed us to transform scriptr.io into a recognizable Enterprise IoT brand, build valuable partnerships and sales channels across the industry and acquire major customers,” said Rabih Nassar, Founder and CEO of scriptr.io.
Scriptr.io continues to expand partnerships with leading IoT device management and application enablement companies along with IoT product distribution channels.
“We welcome Endeavor Catalyst to the scriptr.io family. We look forward to expanding on the current strong traction, and believe that scriptr.io is on the right track to becoming a leading enterprise software vendor capitalizing on the IoT revolution.” said Walid Mansour, Managing Partner at MEVP.
Scriptr.io is the flagship software product of ElementN, which was selected into the Endeavor network in 2012 at the 44th International Selection Panel in London through the Endeavor Lebanon office.
About Endeavor Catalyst
Endeavor Catalyst is the innovative co-investment fund of Endeavor, set up to invest exclusively in Endeavor Entrepreneur-led companies and to sustain Endeavor’s long-term operations in a mission-aligned way. Since launching in January 2012, Endeavor Catalyst has raised $35M in philanthropically donated and invested capital, and invested into more than 40 Endeavor companies in 15 countries. To date, Endeavor Catalyst has co-invested alongside a number of leading venture capital and growth equity funds, including Accel Partners, General Atlantic, NEA, Sequoia Capital and Tiger Global. Investments include Globant (NYSE: GLOB) in Argentina; Yemeksepeti.com (acquired by Delivery Hero) in Turkey and Ruma in Indonesia.
Learn more about Endeavor Catalyst by clicking here.