When was the company founded? 2014
How many full-time employees? Fewer than 100
How much funding has it raised? Senet doesn’t disclose funding, but Crunchbase reports it has raised $28.82 million.
What is the business and business model? Like rivals Ingenu and Sigfox, Senet views its low-power wide area network (LPWAN) offering as a more attractive alternative—or sometimes a complementary—technology to cellular-based NB-IoT technologies. The company gained early traction in the space largely by connecting water meters and other industrial-type sensors; more recently it has moved into asset tracking, smart cities and other markets. The company sells its platform directly to customers looking to leverage IoT functionalities but also offers to manage IoT networks that have been built privately.
What is the company's differentiator? Senet is the largest LoRa-based network provider in the United States, and new CEO Bruce Chatterley said LoRa’s open source nature gives the company a notable edge as the IoT begins to move into more mainstream use cases. “The thing that’s interesting about LoRa is that it’s an open standard, so anyone can make hardware which can connect to a LoRa network,” Chatterley told FierceWireless recently. “We’ve seen dramatic reductions in the price of antennas to put on poles and devices just in the last three years. A second advantage is that it’s very efficient in terms of using batteries.”
What’s next? Chatterley’s hiring is an indication Senet is looking to raise its profile in an IoT space that remains largely unknown even to potential customers. The company is pursuing other industrial-centric uses but also moving into applications such as enabling airports to track the location of heavy equipment. And Senet is moving aggressively to take advantage of potential IoT opportunities ahead of the rollout of cellular-based 5G technologies and services, which will gradually be deployed over the next few years.
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