EdgeIQ Announces New Financing Round to Expand its Digital Transformation Offering for Connected Product Companies
BOSTON, MA (July 21, 2020) EdgeIQ today announced it closed a new round of funding that will allow the company to accelerate its product development and go-to-market initiatives. EdgeIQ provides software that enables and accelerates digital transformation for connected product companies.
Connected product companies number in the tens of thousands and produce billions of devices used by enterprises, consumers, government and educational institutions. These smart devices are often cloud-enabled, produce enormous amounts of data and can be deeply integrated into broader systems throughout the value chain. Connected product companies are also eager to embrace powerful new business models and service revenue streams that digital transformation strategies can deliver. Organizations that invest in digital transformation strategies and technologies will reap significant value:
- Better Customer Experiences - reliability, manageability, improved data access;
- Reduced Operating Costs - Zero-touch deployment, remote monitoring and software management;
- Extended Product Lifecycles - Product diagnostics, real time alerting and preventative maintenance;
- Distributed Computing - Balance cloud with edge computing and management capabilities;
- Device as a Service - New business models create new and higher margin recurring revenue streams;
- Value Chain Integration - Extend data and device management capabilities from planning, manufacturing, support, customer usage and supply chain management.
Unfortunately, almost all connected product companies lack the tools and software to support their digital transformation aspirations. Many organizations attempt to build this infrastructure, shifting scarce resources away from critical innovation and customer acquisition priorities. Just as organizations embraced third-party cloud infrastructure, data management and business process software, they must look to experts such as EdgeIQ that can deliver software that will simplify and scale the underlying infrastructure of their offerings and strategies.
“Digital Transformation is the existential opportunity and threat facing all Connected Product companies,” said Michael Campbell, President and CEO of EdgeIQ. “To increase revenue and value, organizations must stop wasting time and money on basic infrastructure software that is the same whether you are making a digital sign or a drone. EdgeIQ is singularly focused on providing the software tools connected product companies need from Device Management to Device Monetization.”
EdgeIQ Is Infrastructure Software for Connected Product Digital Transformation
Device Management - You can’t monetize what you can’t manage. Device lifecycle management is the foundation of Digital Transformation. Defining device profiles, onboarding, deploying, user and account management.
Data Management - Consume, normalize, filter, throttle, analyze and federate data from connected devices and their infrastructure to any authorized application and service endpoint.
Orchestration - Simplify cloud integrations, certificate management, manage applications at the edge and automate virtually any workflow or task.
EdgeIQ is CRM for Machines™ and the leading provider of software infrastructure for connected product companies and a cornerstone to their Digital Transformation initiatives. EdgeIQ is an API-first platform that helps organizations invest their resources on innovation outcomes, not undifferentiated infrastructure software. To connect, visit www.edgeiq.io, email firstname.lastname@example.org, or on Twitter @Edge_IQ.