Predixion Software, a developer of cloud-based predictive analytics (PA) software, today announced that Software AG will lead the company’s series D funding round. This round of funding, which includes participation from existing financial and strategic investors, including GE Software Ventures, will support Predixion’s move into the Internet of Things (IoT) analytics market.
This fourth funding round, expected to close in 60-90 days, focuses on resources to develop Predixion’s advanced analytics for IoT use cases in manufacturing, energy & utilities, transportation, healthcare and retail sectors. According to IDC, the IoT market is estimated to grow from $1.7 trillion in 2015 to $3 trillion in 2020 with a compound annual growth rate (CAGR) of 13%. Revenues from IoT analytics, estimated by ABI research to be $5.7 billion by the end of this year, is anticipated to grow even faster, at a 5-year CAGR of 30%.
“We are pleased to join forces with Predixion, a true thought leader in the advanced analytics market and how it relates to the Internet of Things,” said Frederic Hanika, Head of M&A and Corporate Ventures at Software AG. “Our investment in Predixion is a part of our ongoing efforts to enable customers to drive operational efficiency, modernize systems and optimize processes for smarter decisions and better service.”
Predixion specializes in the “Last Mile of Analytics™” — that is getting the power of predictive insights to the front lines where decisions are made. The company’s patent-pending Machine Learning Semantic Model (MLSM) enables analytics to be easily embedded into a variety of production environments including existing applications, databases, real-time streaming engines and even directly on to connected or disconnected devices. This unique capability gives Predixion an advantage over traditional analytic tools that cannot handle the speed and volume of streaming data or the real-time actions required when dealing with use cases that involve devices or machines at the edge or in the fog (i.e., with limited connectivity). Advanced analytics and automated actions on the device or machine are required to realize the return made on connecting all these things within the IoT for the Industrial Internet, Connected Vehicles, Connected Patients, Smart Buildings and more.
“We are very excited to have Software AG supporting our move into analytics for the IoT market,” said Simon Arkell, CEO of Predixion Software. “Predixion is the only advanced analytics vendor that can embed predictive models on the device, at the gateway and in the cloud, so the analytics are where you need them, when you need them. This will become increasing critical as organizations shift from connecting devices to deriving value from them.”
Predixion Software will be showcasing their unique technology at the upcoming IoT World Conference in San Francisco on May 12-13 in booth # 351.
About Software AG
Software AG (FRANKFURT: SOW) helps organizations achieve their business objectives faster. The company’s big data, integration and business process technologies enable customers to drive operational efficiency, modernize their systems and optimize processes for smarter decisions and better service. Building on over 40 years of customer-centric innovation, the company is ranked as a leader in 14 market categories, fueled by core product families Adabas-Natural, ARIS, Alfabet, Apama, Terracotta and webMethods. Software AG has more than 4,400 employees in 70 countries and had revenues of EUR 858 million in 2014. Learn more at www.softwareag.com
About Predixion Software
Predixion was founded on the belief that predictive analytics has the power to create a smarter, safer and healthier world — and that access to that power should not be limited. To achieve this vision, Predixion developed Predixion Insight™, a cloud-based analytics platform that provides real-time, predictive analytics at the decision point in order to improve outcomes. Predixion specializes in the “Last Mile of Analytics™” — that is getting the power of predictive insights to the front lines where decisions are made — whether that is an application, a BI dashboard, a machine or a device. More than 200 companies worldwide rely on Predixion to make better decisions every day. For more information visit www.predixionsoftware.com.