Particle is an integrated IoT platform that helps companies connect, manage, and deploy connected devices at scale. It offers device fleet management, wireless connectivity, edge computing, and over-the-air software updates.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
$260M
Series D, Sep 2023, Perplexity
UpMarket Estimate
$234M
Based on UpMarket valuation model
How to Invest in Particle Through UpMarket
Particle shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Particle offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
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Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
Sep 2023
Series D
$260M
Why Investors Are Watching Particle
Growth Signal
Particle said it raised $40M Series C to expand IoT footprint
Particle announced a $40 million Series C led by Qualcomm Ventures and Energy Impact Partners to continue expanding its footprint and investing in growth. The company said the round brought its total venture funding to $81.3 million and included returning investors such as Spark Capital and SOSV.
Competitive Moat
Particle calls itself the most widely used IoT platform
Particle described itself as the most widely-used Internet of Things platform in the world in its funding announcement. That positioning suggests a scale advantage in developer adoption and deployment breadth across connected-device use cases.
Market Opportunity
Particle targets traditional industries as IoT adoption widens
Particle said the new funding would help it empower traditional industries and drive widespread IoT adoption. The company’s stated use of proceeds points to a large addressable market beyond consumer devices, including industrial and enterprise connected products.
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No. As of March 2026, Particle is a private company and does not trade on any public stock exchange. Accredited investors can access Particle shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Particle does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Particle shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered alternative investments since 2019.
Pre-IPO investments carry significant risks. Particle shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Particle operates an integrated IoT platform for device fleet management, wireless connectivity, and edge computing at a $234M valuation, and recently raised $40M in Series C to expand its IoT footprint — accredited investors can access Particle stock through UpMarket.