Espresso portfolio company Hologram raises $65 million Series B round

Chicago — October 5, 2021 — Hologram, a global cellular platform for IoT connectivity and an Espresso Capital portfolio company, has raised a $65 million Series B funding round. The round was led by Tiger Global, with participation from Bullpen Capital, NextView Ventures, and Mucker Capital.

“Congratulations to the entire Hologram team,” said Espresso Capital Director Mark Gilbert. “This is an incredible milestone for the company and will help fuel Hologram in becoming a category- defining company in the IoT connectivity space.” 

In 2020, Espresso extended a credit facility to Hologram to support the company’s continued growth and fund strategic investments to maximize that growth.

“Espresso Capital was able to offer us financing solutions to help us ambitiously pursue our growth and new equity funding at the same time,” said  Ben Forgan, CEO and co-founder of Hologram. “Following our Series B raise, we’re planning to triple our team and we’ll continue our remote-first culture.” 

Existing investors include Drive Capital, Capital Midwest Fund, Mucker Capital, and Bullpen Capital.

About Espresso Capital

Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 300 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at www.espressocapital.com.