Tile, the company once known for wanting to put a Bluetooth tracker on your keychain, hopes to integrate its technology into any device. Investors appear to be interested, if the $45 million raised last week is any indication.
"It was initially launched as something to help you find your keys. But since then, we've expanded to address that pain point for many other types of devices, like bags, and even beyond devices: pets, kids' jackets," Tile CEO C.J. Prober told Cheddar.
To date, the company has raised more than $104 million, according to Crunchbase, with the latest round of fundraising led by Francisco Partners, a private equity technology firm.
The San Mateo-based startup was founded in 2012. After laying off dozens of employees early last year, recent fundraising may offer a much-needed lifeline.
"The investment is going to help one of our big strategies, which is embedding Tile in third-party products," said Prober. "So anything that has a Bluetooth chip can be a Tile with a very simple software update."
Prober pointed to new product deals through which Tile is directly integrated into audio headset products, such as partnerships with Skullcandy and Bose. He added that more collaborations are in the works.
Despite the new direction, Prober — who was brought in as the company's newest CEO last September— said that Tile has not lost its focus on manufacturing its own devices: the light, square-shaped pods that users can attach to their valued items.
"We see an opportunity both to expand our own devices [and to] integrate into third-party products," he explained.
Tile saw its sales on Amazon Prime Day more than double compared to the previous year. Prober added that the company is also looking to expand internationally and noted that its business in Europe has jumped 160 percent since 2018.
"So far we haven't been impacted by tariffs, knock on wood. We do manufacture our products in China. So it's a situation that we're monitoring closely, but no impact to Tile to date," he said.
With an increasing demand for mental health services, one person wanted to change the therapy game. In 2017, CEO Alex Katz founded Two Chairs, a company that uses technology to match patients with the right therapist.
Not only is April Financial Literacy Month, it’s also the kickoff of the spring homebuying season. So now is the time to make sure you have a financial plan in place – and why it might not be wise for that to include buying your first home.
While the U.S. may slowly be on the path to lowering inflation (and therefore interest rates), Europe has thoroughly trounced America, putting it on the path to lower rates by this summer.
April's release of the monthly Housing Starts and Building Permits reports by the Census Bureau provides crucial insights into the construction activity in the housing market. These reports are an economic indicator, shedding light on the current state of the housing market and its broader economic impact.
Caitlin Clark is heading to the Indiana Fever, the number one draft pick and the highest-scoring college basketball player of all time. And while she may not be getting millions from the WNBA, there's a few ways she'll net compensation for her generational talents.
Author of 'Clean Meat,' Paul Shapiro joins Cheddar to discuss how the cellular agricultural revolution helps lower rates of foodborne illness and greatly improves environmental sustainability. Plus, how his company The Better Meat Co. is bringing healthier food options to the table.
Recent headlines might make it sound like World War III is imminent, but when it comes to your finances, it's not the time to panic. The market is coming off its longest winning streak since 2011.
You may have noticed fewer new venture capital-backed startups (like Airbnb or Uber) lately. The market slowed to a crawl after 2021, but things are expected to take off again in 2025.
Corporate earnings season is underway, that time when companies share their billions in sales or double-digit profits. But the data shows even companies are struggling with high inflation and interest rates.
Boeing continues their terrifying trend of having their planes fall apart mid-flight, inflation — checks notes — is still up and the future of AI looks terrifying. Cheery!
