After a $3.1 million raise, Duluth Internet of things company Banyan Hills Technologies is refining its marketing strategy.

Why it matters: The raise is Banyan Hills' first investment round, indicating the company's plan to accelerate its growth. Even as a self-funded company, Banyan Hills garnered recognition in the local technology ecosystem. Last year, it was one of 14 companies included in Metro Atlanta Chamber's Backed by ATL program, which provides mentorship and networking connections to high-growth companies. In 2019, Banyan Hills was one of the companies to present at Venture Atlanta, widely recognized as the largest investor conference in the Southeast. Between 2018-2020, Banyan Hills landed on the Inc. 5000 list, which ranks the fastest-growing private companies in America. The company didn't make the most recent list in 2021. See more here.