IOTech’s core product is Edge Central, a modular open edge distributed computing and edge management platform built on the EdgeX open-source data integration framework. The platform provides connectivity, processing and management tools to accelerate time-to-value and protect software investment beyond hardware lifecycles. IOTech’s customers and partners include large industrial OEMs, ISVs and SIs such as Accenture, EATON, Fluence Energy, Johnson Controls, King Steel and Schneider Electric. The company is using new funding to expand its North American go-to-market, invest in sales, marketing and pre-sales support, and accelerate strategic product development. To support technical and product expansion it has added field CTOs and appointed industrial IoT veteran David C. King to its board and as an advisor. The company emphasizes its positioning as a vendor-neutral open edge computing leader across industrial automation, renewable energy, building automation and other verticals. IOTech builds and deploys open and secure software edge platforms for Industrial IoT (IIoT), addressing hard and soft real-time edge computing needs. It monetizes the open-source EdgeX stack through complementary licensed products such as Edge Xpert and a real-time extension, Edge XRT, supporting vendor-neutral north (cloud) and southbound (thing) integration. The company sells through global channels and has announced significant distribution deals with a major system integrator and Dell Technologies, and in September 2019 joined the Intel IoT Solutions Alliance. IOTech plays a central role in the EdgeX Foundry project—its CEO is chairman of the technical steering group and its CTO is a lead architect—and leverages that ecosystem for commercial adoption. The company was founded in April 2017 and is based in Edinburgh, Scotland. Proceeds from the Series A will be used to expand channel support and customer acquisition across the U.S., Europe and APAC, accelerate product delivery, and extend professional services to support pilots and production deployments. IOTech develops commercialized IoT edge platform products that extend the Linux Foundation’s EdgeX Foundry open-source project. Its flagship licensed offering, Edge Xpert, provides a vendor-neutral commercial version of the EdgeX code base with multi-hardware and OS support, upgrades, and support options. The company is also developing Edge XRT to address hard- and soft-real-time industrial edge use cases, including deployments on CPU- and memory-constrained microcontrollers and microsecond latency requirements. IOTech leverages an open-source strategy to grow a global partner ecosystem and reduce systems-integration costs and deployment time for customers. The company says the new funding will accelerate product and service development, enhance partner support, expand local presence, and drive hiring across software development, engineering, and professional services. IOTech positions itself as a provider across the full spectrum of secure hard- and soft-real-time edge computing needs for multiple vertical IIoT markets.

Total raised

$10M

Funding rounds

3

Latest round

Series A

Latest activity

Nov 2019