As of August 2026, Latka tracks 15 IoT development tools companies with $5M–$10M in annual revenue. They have combined revenues of $102.8M and employ 1.1K people. They have raised $1.5M and serve 50.3K customers combined.
Every company below sells IoT development tools to other businesses and is ranked by its most recent annual revenue. Revenue, funding, headcount and customer figures come from CEO interviews on the Latka podcast, public company filings, and Latka estimates where a company has not disclosed a number.
IoT Development Tools facilitate the creation, testing, and deployment of applications designed to manage and utilize Internet of Things (IoT) devices effectively. These tools enable developers to build software that can communicate with hardware components, process data, and ensure connectivity across various devices. Key use cases include smart home systems, industrial automation, healthcare monitoring, and environmental sensor applications, where the ability to gather, analyze, and act on data from connected devices is crucial. Typical features of IoT Development Tools include device management capabilities, data collection and visualization, real-time analytics, and integration with cloud services. These tools often provide features for protocol support, security measures, and scalability to accommodate numerous devices. Common buyer personas include software developers, product managers, IT professionals, and hardware engineers, all of whom require robust solutions to streamline their IoT projects and enhance operational efficiencies.
Sorting: Highest -> Lowest
Showing 10 of 15 companies ranked by annual revenue.
Bellevue, Washington, United States
Creates innovative mobile applications including multi-platform apps, cloud service, and retail service development that enable the world?s top class manufacturers, telecoms and internet service providers to successfully market products throughout the whole mobile/IoT ecosystem
Ghent, Belgium
Developer of an IoT middleware platform designed to connect IoT services to IT systems and cloud applications. The company's platform offers to break down silos by connecting devices with applications and online services to make business decisions based on real-time sensor information via real-time automation and notifications in energy, logistics, online retail and smart city projects, enabling clients to make automation and integration faster, smarter and more scalable.
Seattle, Washington, United States
Balena is a complete set of tools for building, deploying, and managing fleets of connected Linux devices. We provide infrastructure and tools for fleet owners so they can focus on developing their applications and growing their fleets with as little friction as possible. Our tools are designed to work well together as a platform, but you can also pick and choose the components you need for your project, and adapt them to your particular use case. We know that no two IoT projects are the same and there is no one-size-fits-all solution. All your devices and their running services can be managed, monitored, and updated through the web dashboard, or through our API via the CLI and SDK. We’ve solved the hard problems so you as the fleet owner can focus on your application, not your infrastructure.
Mountain View, California, United States
Iterate.ai empowers enterprise teams to build and run AI agents with confidence. Our platforms — Generate and Interplay — delivers privacy-first AI with speed, security, and total control, from the first prompt to full-scale deployment.
Boynton Beach, Florida, United States
Arm device virtualization for mobile security research, mobile app testing, IoT device modeling, and beyond. Powerful security and testing tools for iOS, Android, and Linux phones and devices.
Carlsbad, California, United States
Trident IoT is a technology and engineering company focused on simplifying RF development, increasing product success rates, and decreasing time-to-market for connected device makers.
Wrocław, Poland
Thaumatec is a development service provider in Embedded Systems, Internet of Things System and connectivity, located in Wrocław, Poland - just 300 kilometres from Berlin, Prague and Warsaw.
San Francisco, California, United States
Memfault builds developer tools for firmware engineers.
Duluth, Georgia, United States
Bluebird is an enterprise IoT total solution provider, offering consulting and customized solutions for enterprise IoT infrastructure.
Latka tracks 15 IoT development tools companies with $5M–$10M in annual revenue. Together they generate $102.8M in annual revenue and employ 1.1K people.
TecAce Software is the largest, with $9.6M in annual revenue, founded in 2000.
The average IoT development tools company in this list makes $6.9M a year, across 15 companies with reported revenue. They serve 50.3K customers combined.
Ranked by annual revenue, the leaders are TecAce Software, waylay, balena, Iterate.ai and Corellium.
The 15 IoT development tools companies with $5M–$10M in annual revenue tracked here have raised $1.5M in disclosed funding between them.
- Must provide tools for developing and deploying software for IoT applications - Should support various IoT protocols such as MQTT, CoAP, and HTTP - Must include features for device management and data analytics - Should facilitate integration with cloud platforms for data storage and processing - Not limited to just application development; must also support hardware integration and testing - Must offer security features to protect data and device access - Should enable scalability to manage multiple IoT devices.
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