Everactive Funding, Investors & Competitors

Everactive has raised $144M across 8 funding rounds, most recently a $11M Series A in September 2024.

Last Everactive funding round

$11M

Series A · Sep 2024

Cumulative funding Everactive raised

$144M

across 8 funding rounds

Key investors in Everactive

  • New Enterprise Associates
  • OUP (Osage University Partners)
  • Jaffray Woodriff
  • University of Michigan
  • Blue Bear Capital
  • Future Fund
  • ABB
  • Asahi Kasei

Everactive Overview

About Everactive

Everactive is a developer of battery-free wireless IoT sensors using energy harvesting. Based in Santa Clara, California, it supplies self-powered devices for asset tracking, environmental monitoring, and predictive maintenance in retail, logistics, and manufacturing. The platform includes a LoRaWAN network for data transmission powered by ambient RF energy, enabling always-on sensing without maintenance.


Founded

2012

HQ

United StatesSan Jose, CA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Everactive Funding History

Everactive has raised a total of $144M across 8 funding rounds.

Everactive's first fundraising round was a $5M Series A in November 2014. The most recent completed round was a $11M Series A in September 2024.

Everactive funding rounds

Everactive funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2024Series A-$11MEveractive raised $35 million in an oversubscribed Series C financing round led by Fluke Corporation, with participation from new investors 40 North Ventures, TOP Ventures, and Asahi Kasei Corporation, alongside existing investor New Enterprise Associates. The funding, announced around September 2024, aims to accelerate sales, marketing, and product development for its batteryless wireless IoT solutions focused on pervasive remote monitoring in Industry 4.0 applications. Everactive develops self-sustaining sensors that enable scalable, cost-effective IIoT deployments for real-time insights in industrial settings, addressing the skills gap for manufacturers. Separate reports indicate an additional $10.9 million funding round on September 10, 2024, and an $11 million Series C extension in August 2024 with investors including 3M, Ericsson, and 40 North Ventures. The company, specializing in batteryless industrial IoT chips and self-powered systems, has cumulatively raised $137 million across eight rounds. Prior rounds include a Series C of $35.38 million in 2020 and others dating back to 2012.
Nov 2022Undisclosed stage-$19MEveractive is a batteryless industrial IoT chip company that has raised $137M total across eight funding rounds as of August 2024. The company develops energy harvesting semiconductor technology that enables devices to operate without traditional batteries, targeting industrial Internet of Things applications. In its Series D funding round on October 27, 2022, Everactive raised $18.68M according to Nasdaq Private Market records, though the post-money valuation for this round was not publicly disclosed. The company has attracted support from strategic investors including 3M, Ericsson, and 40 North Ventures. As of August 2024, Everactive remained an active private company in the semiconductor sector with partial market visibility, but specific revenue and EBITDA figures near the October 2022 funding date were not available in public sources.
Jul 2021Series CArmstrong International; 3M; Ericsson Ventures$16MEveractive develops batteryless, wireless Internet of Things (IoT) solutions for large-scale remote monitoring in industrial applications. The company's sensors generate power from sources like indoor solar, vibration, and thermal, enabling deployment at unprecedented scale without batteries. Customers include 3M for manufacturing efficiency, Ericsson for IoT use cases with mobile infrastructure, and Armstrong International for smarter steam systems. On July 29, 2021, Everactive raised $16 million in additional Series C funding from strategic investors 3M, Ericsson Ventures, and Armstrong International, all prior customers or partners. This brought the total Series C to over $50 million. The funding supports expansion of batteryless IoT technology. Over the 12 months prior to July 2021, Everactive grew its recurring revenue by 400% while nearly doubling team size amid rising demand for remote monitoring during the COVID-19 pandemic.
Sep 2020Series CFluke (lead); Asahi Kasei; 40 North Ventures; New Enterprise Associates; TOP Ventures$35MEveractive, founded in 2012 as PsiKick and spun out from the University of Michigan and University of Virginia, develops self-powered industrial sensors that harvest thermal and light-derived energy to operate without batteries. The company's proprietary ultra-low-power semiconductors require 1,000x less power than competing circuits, enabling continuous measurement, processing, and wireless transmission of equipment and infrastructure health data from industrial assets. This battery-free approach eliminates maintenance burdens and enables cost-effective scaling across legacy equipment in industrial plants and refineries. Everactive raised a $35 million Series C funding round with multiple tranches: an initial $30 million close in June 2019 led by Australian sovereign wealth fund Future Fund and ABB Technology Ventures, followed by additional funding from Fluke Corporation in September 2020. The complete Series C included investors 40 North Ventures, Asahi Kasei Ventures, Top Ventures (venture arm of Thaioil), New Enterprise Associates, Blue Bear Capital, and undisclosed additional investors, bringing the company's cumulative funding to over $100 million across all rounds since its 2012 founding. The series C funding was earmarked to accelerate sales, marketing, and product development, with Fluke's investment reflecting Fortive's strategic commitment to advancing essential technologies in the industrial internet-of-things sector. Marc Tremblay, President of Fluke, joined Everactive's board as part of the investment.
Oct 2017Undisclosed stageFuture Fund (lead); New Enterprise Associates; Blue Bear Capital; ABB; OUP (Osage University Partners)$40M-
Dec 2015Series BOUP (Osage University Partners) (lead); Jaffray Woodriff; New Enterprise Associates; University of Michigan$17M-
Jun 2015Seed-$1M-
Nov 2014Series ANew Enterprise Associates (lead); Jaffray Woodriff; University of Michigan; OUP (Osage University Partners)$5M-

Who has invested in Everactive?

14 investors have backed Everactive across its funding rounds, including New Enterprise Associates, OUP (Osage University Partners), Jaffray Woodriff, University of Michigan, Blue Bear Capital and Future Fund.

Lead investors include Fluke, Future Fund, OUP (Osage University Partners) and New Enterprise Associates.


Everactive Investors

Investors in Everactive by funding rounds participated
InvestorHQRoundsRoleFirst check
New Enterprise AssociatesUnited StatesSan Francisco, CA4LeadNov 2014
OUP (Osage University Partners)United StatesPhiladelphia, PA3LeadNov 2014
Jaffray WoodriffUnited StatesCharlottesville, VA2ParticipantNov 2014
University of MichiganUnited StatesAnn Arbor, MI2ParticipantNov 2014
FlukeBrazilSão Paulo1LeadSep 2020
Asahi KaseiJapanTokyo1ParticipantSep 2020
Armstrong InternationalUnited StatesThree Rivers, MI1ParticipantJul 2021
40 North VenturesUnited StatesUnited States1ParticipantSep 2020
TOP VenturesThailandBangkok1ParticipantSep 2020
3MUnited StatesUnited States1ParticipantJul 2021
Future FundAustraliaMelbourne1LeadOct 2017
Ericsson VenturesUnited StatesSan Jose, CA1ParticipantJul 2021

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Everactive Competitors

Everactive competitors include listed companies like Johnson Controls and Samsara, and private ones like Verkada, ZaiNar, Tractian and proteanTecs.

Public and private companies comparable to Everactive
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
VerkadaUnited StatesSan Francisco, CAPrivate--$5.8B-
ZaiNarUnited StatesSan Francisco, CAPrivate--$1B-
TractianUnited StatesUnited StatesPrivate--$720M-
proteanTecsIsraelHaifaPrivate$60M-$600M10.0x
Johnson ControlsUnited StatesUnited StatesPublicly listed$24B$3B$85B3.7x
SamsaraUnited StatesUnited StatesPublicly listed$1.6B($29M)$23B12.0x

Everactive Public Comps

Everactive is still privately-owned, but its public comps include Amphenol, Foxconn Industrial Internet, Hitachi, Keyence, Johnson Controls, Lumentum, Honeywell, TE Connectivity, AMETEK and Hikvision.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Amphenol$23B$6.9B9.0x6.5x30.0x19.8x
Foxconn Industrial Internet$135B$7.7B1.4x0.9x23.8x16.6x
Hitachi$68B$11B2.2x2.2x13.8x13.5x
Keyence$7.5B$4.1B14.5x13.2x26.6x24.5x
Johnson Controls$24B$3B4.0x3.7x31.0x20.0x
Lumentum$3B($6.9B)26.2x21.3x(11.4x)56.6x
Honeywell$37B$7.8B2.4x3.6x11.6x16.1x
TE Connectivity$17B$4B3.7x3.3x15.9x12.2x

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Common questions about Everactive

When was Everactive founded?Everactive was founded in 2012.
Where is Everactive headquartered?Everactive is headquartered in San Jose, CA, United States.
Is Everactive publicly listed?No, Everactive is a private, VC-backed company.
How much funding has Everactive raised?Everactive has raised $144M across 8 funding rounds.
What was Everactive's last funding round?Everactive's last funding round was a $11M Series A in September 2024.
Who are Everactive's investors?Everactive's investors include New Enterprise Associates, OUP (Osage University Partners), Jaffray Woodriff, University of Michigan, Fluke, Asahi Kasei, Armstrong International, 40 North Ventures, TOP Ventures, 3M and 4 others.
Which companies are comparable to Everactive?Companies comparable to Everactive include Verkada, ZaiNar, Tractian, proteanTecs, Johnson Controls and Samsara.

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