[CRN] FOGHORN SYSTEMS LANDS 12 MILLION IN SERIES A FUNDING
July 27, 2016 – By Lindsey O’Donnell
FogHorn Systems, an IoT software company that specializes in IoT software for industrial applications, has raised $12 million in Series A funding, the company said Wednesday.
CEO David King said the company would use the money to develop breakthrough Internet of Things systems tailored for industrial and commercial partners.
“FogHorn intends to go to market 100 percent with partners and does not plan to sell direct to a large audience,” he said. “This is the largest initial round of funding raised by a Silicon Valley startup focused on IoT edge analytics.”
The Series A funding was led by March Capital and GE Ventures. Additional funding was provided by Robert Bosch Venture Capital GmbH, Yokogawa Electric Corporation and Darling Ventures.
FogHorn’s industrial Internet of Things software stack combines technologies to blend sensor data from industrial machines with cloud-based management, analysis and machine learning capabilities.
According to King, in addition to integrating with larger IoT-focused industrial companies like GE, FogHorn sells branded solutions through larger systems integrators, and partners with solution providers, and IoT gateway and cloud providers to offer white-labeled services.
FogHorn’s platform stands out by significantly lowering cloud-related bandwidth costs. It does this through refocusing the role of the cloud in the IoT platform to certain, specific functions, like application portability, advanced analytics, and provisioning orchestration, according to the company.
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