About Essential
Essential is a company based in Palo Alto (United States) founded in 2015 by Matt Hershenson was acquired by Nothing in February 2021.. Essential has raised $330 million across 2 funding rounds from investors including Tencent, Nothing and Foxconn Electronics. The company has 120 employees as of December 31, 2022. Essential has completed 1 acquisition, including CloudMagic. Essential operates in a competitive market with competitors including Motorola Mobility, Apple, Meizu, Sonim Technologies and Lume Cube, among others.
- Headquarter Palo Alto, United States
- Employees 120 as on 31 Dec, 2022
- Founders Matt Hershenson
-
Sectors
Consumer
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Essential Products, Inc.
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Funding Insights of Essential
Essential has successfully raised a total of $330M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $300 million completed in October 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series B — $300.0M
-
First Round
First Round
(01 Jun 2016)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2017 | Amount | Series B - Essential | Valuation |
investors |
|
| Jun, 2016 | Amount | Series B - Essential | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Essential
Essential has secured backing from 8 investors, including institutional and venture fund investors. Prominent investors backing the company include Tencent, Nothing and Foxconn Electronics. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Startups are accelerated and funded through Amazon's corporate venture capital.
|
Founded Year | Domain | Location | |
|
Tech-focused VC firm funding companies in the US
|
Founded Year | Domain | Location | |
|
Redpoint Ventures is engaged in venture capital investments.
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Essential
Essential has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include CloudMagic. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
A web-based platform is offered for managing multiple email accounts.
|
2010 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
OVO is recognized as a smart digital payment application.
|
2017 | ||||
|
Bionic investment advisor platform
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 |
Financial Statements - Essential
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Essential Comparisons
Competitors of Essential
Essential operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Motorola Mobility, Apple, Meizu, Sonim Technologies and Lume Cube, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Mobile devices, cases, tablets, and screen protectors are offered online.
|
|
| domain | founded_year | HQ Location |
Consumer electronics, computers, and software are designed and sold worldwide.
|
|
| domain | founded_year | HQ Location |
Multi-category consumer electronics are provided by an internet-first brand.
|
|
| domain | founded_year | HQ Location |
Internet first brand of mobile and its accessories
|
|
| domain | founded_year | HQ Location |
Multi-category consumer electronics are provided by an internet-first brand.
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Essential
Frequently Asked Questions about Essential
When was Essential founded?
Essential was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Where is Essential located?
Essential is headquartered in Palo Alto, United States. It is registered at Palo Alto, California, United States.
Is Essential a funded company?
Essential is a funded company, having raised a total of $330M across 2 funding rounds to date. The company's 1st funding round was a Series B of $30M, raised on Jun 01, 2016.
How many employees does Essential have?
As of Dec 31, 2022, the latest employee count at Essential is 120.
What does Essential do?
Essential was established in 2015 in Palo Alto, United States, with Matt Hershenson serving as co-founder. Operations are centered on the consumer electronics sector, where smartphones and related accessories are produced. The company maintains its headquarters in the United States and operates through the domain essential.com. Focus is placed on hardware development, though specific services beyond manufacturing are not detailed in available profiles.
Who are the top competitors of Essential?
Essential's top competitors include Apple, Motorola Mobility and Meizu.
How many acquisitions has Essential made?
Essential has made 1 acquisition, including CloudMagic.
Who are Essential's investors?
Essential has 8 investors. Key investors include Tencent, Nothing, Foxconn Electronics, The Alexa Fund, and Access Technology Ventures.
Book a demo & talk to our team
Share a few details and we’ll reach out to schedule a session.