ThingWorx provides a software application platform designed to build connected applications for products, machines, sensors, and industrial equipment. The platform combines Web 2.0, search, and social collaboration functionality and includes features such as a codeless Mashup builder, search-based intelligence, and AlwaysOn communications. Customers use ThingWorx to deliver remote services, telematics, smart-device monitoring, and to gain insight into manufacturing and industrial processes across markets like medical devices, energy, transportation, agriculture, and smart cities. The company says the platform yields a 5X to 10X increase in development efficiency for M2M applications. ThingWorx has grown its customer base and partnerships and is investing to scale operations as demand expands rapidly in the M2M/IoT market. Management plans to use Series C proceeds to strengthen sales and customer care teams to capitalize on market growth. ThingWorx markets an application platform designed for apps that connect people, systems and devices. The platform lets companies create and deploy secure connected applications in the cloud, on an intranet, or on embedded platforms. The company emphasizes the platform's value in industrial markets such as manufacturing, utilities and energy. It also targets emerging Internet of Things markets, including smart homes, cities and transportation. Founded in 2009, ThingWorx raised $5 million in a Series B round led by Safeguard Scientifics. The article does not provide revenue, user metrics, or detailed future plans.

Total raised

$5M

Funding rounds

2

Latest round

Series B

Latest activity

Feb 2011