Riyadh – Sharikat Mubasher: Saudi Aramco Ventures participated in a $10.4 million Series A2 for IOTA Software Inc., a Denver-based developer of industrial and business data visualization software.

IOTA announced a successful closure of the funding round led by the Denver-based venture capital firm Altira Group with participation from Oxy Technology Ventures and existing investors, including Aramco Ventures and Second Avenue Partners, according to a recent press release.

IOTA’s visualization software is an enterprise-scale, cloud-native platform that provides access to all sources of critical and dynamic business and process information.

The company said the new funding will be used to expand its engineering, product, and customer success teams and enhance its technology infrastructure and marketing efforts. IOTA added in a statement announcing the funding that this will enable it to further develop its technology, expand its global reach, and continue its growth trajectory.

On this occasion, Ivan Datskov, IOTA’s CEO: “We are thrilled to secure this funding, which enables us to accelerate our growth and technology development,” said. “Our platform already helps businesses across a wide range of industries make more informed decisions, and we are excited about the opportunity to positively impact even more organizations.”