IFTTT (If This Then That) announced Thursday, August 28, that it raised a $30 million Series B funding round led by Norwest Venture Partners. The round also saw participation from previous investor Andreessen Horowitz, bringing IFTTT's total capital raised to $39 million.
IFTTT (pronounced like "gift" without the "g") is an automation tool that allows users to build "recipes" based on triggers and actions. The recipes are built with channels and ingredients. Channels represent anything from SMS, to email, to social media apps on your phone; and the ingredients are the specific inputs and outputs you want to connect.
For example, by using location services you can create a recipe that mutes your phone when you enter the office in the morning. The channels would be the phone's volume setting and locations services, and the ingredients would be the specific destination of your office and the enabling of the mute feature.
“With every new Channel on IFTTT, we're empowering people to create new connections that give them more control over their digital world,” says Linden Tibbets, CEO at IFTTT. “We’re excited to dedicate the new resources to opening our Channel Platform, growing the company and extending our vision for putting the Internet of Things to work for you.”
The Channel Platform would allow third party developers to create their own channels for IFTTT. Companies interested in building an IFTTT channel can find information here.
IFTTT launched in 2010 and grew as part of the Internet of Things (IoT) movement. The tool offers 125 channels from companies such as Square, Nest, and eBay; and there are currently around 14 million recipes on IFTTT that run 15 million times a day.
Josh Goldman, a general partner at Norwest Venture Partners, will join the IFTTT board as part of the deal. The San Francisco-based company is also backed by NEA, Lerer Hippeau Ventures, and SV Angel.