Tile Wants To Use Its $18 Million Series B To Take Over 'Analog' Devices

Tile, the company behind the item-finding app and technology of the same name, announced an $18 million oversubscribed Series B round in a press release Thursday. The round was led by new investor Bessemer Venture Partners, with existing partners GGV Capital, Khosla Ventures, Tandem and Tencent reaffirming their commitment.

According to an email interview with CEO Mike Farley, Tile plans to use the funds to add Tile functionality to "analog" devices.

"[We plan to] blanket the world with smart location [technology] by partnering with other brands to put the power of Tile's smart location into products made by other companies," Farley wrote.

Farley pointed to Tile's recent integration with Land Rover's Discovery Sport models as an example of an expansion of the company's services. The app can tell users if all their important belongings are in the car with them before they start a trip.

"This is just one example of what to expect ahead," Farley wrote. "Smart location is still in its infancy. When more things are empowered with smart location, the world will become a smaller, happier, more productive place."