IOTech Expands North American Presence with Investment from Dell Technologies Capital
Former FogHorn CEO David C. King joins the board of directors, providing significant guidance for the American industrial IoT market
San Francisco (Aug. 29, 2023) -- IOTech, the leader in open edge computing, today announced its expansion in the North American market, fueled by additional investment led by Dell Technologies Capital. The investment will support go-to-market in the region and accelerate strategic product development of its groundbreaking open edge data platform. To help further drive growth in the U.S., IOTech has also appointed industrial IoT (IIoT) veteran David C. King to its board of directors.
The new investment included existing investors Dell Technologies Capital, SPDG (Société Anonyme de Participation et De Gestion), the holding company of the Périer-D’Ieteren family, Northstar Ventures, and the Scottish Investment Bank.
“IOTech’s platform lets enterprises capitalize on the massive volume of data generated at the Industrial IoT edge. Their technology has proven to be valuable to manufacturing and energy customers,” said Gregg Adkin, managing director with Dell Technologies Capital. “Building out in the North American market creates opportunity to address new vertical use cases, and help more organizations realize the full potential of their edge data.”
North America represents IOTech’s largest market opportunity and the additional funding will allow the company to invest in expanded sales, marketing, and pre-sales support to deliver deployments and future customer engagements. As part of its expansion across North America, IOTech recently expanded its technology expertise with the addition of field CTOs.
IOTech makes industrial data easily accessible, actionable, and manageable for the world’s leading providers and consumers of industrial edge solutions. Its partners and customers are comprised of some of the largest industrial OEMs, ISVs, and SIs across industrial automation, renewable energy, building automation, and other vertical markets. Customers include Accenture, EATON, Fluence Energy, Johnson Controls, King Steel, and Schneider Electric.
The company is also strengthening its presence in the U.S. via the appointment of renowned tech leader David C. King, former CEO of FogHorn, which was acquired in 2022 by Johnson Controls, as a board and company advisor. In this advisory role, King will provide expert insight and guidance as the company continues to launch new edge products, develops its portfolio of IIoT solutions, and expands into new global markets.
“The industrial edge is the key to extracting the full value of industrial organizations’ data and IOTech is well-positioned to take that key and open the door to new business opportunities for its customers and partners,” said King. “It’s an exciting and pivotal time for the company and I’m looking forward to serving in an active role in its continued growth and success.”
King led FogHorn, a leader in edge AI software for industrial IoT solutions, through three successful financing rounds with leading venture capital and major corporate investors.
“We’re pleased investors remain strongly committed to IOTech’s exceptional journey as a leader in industrial open edge computing. Our relationship with Dell Technologies Capital continues to strengthen on a variety of fronts and its support has been critical to the company’s excellent growth to this point,” said Keith Steele, founder, and CEO, IOTech. “In addition to the funding, we are extremely excited to welcome David King to our board. His deep depth of knowledge, track record of success, and his proven ability to accelerate growth are major assets for our leadership team and company.”
IOTech solves the industrial data problem at the edge. Used by the world's leading providers and consumers of industrial edge solutions, IOTech Edge Central makes industrial data easily accessible, actionable, and manageable. Edge Central is the most comprehensive foundational software solution for the edge and includes connectivity, processing, and edge management. Our modular and flexible plug-and-play, open edge distributed computing data platform and edge management software toolset greatly reduce the time-to-value equation and protects software investment beyond the hardware lifecycle. Edge Central is based on EdgeX, the world's #1 open-source data integration platform, and a true, vendor-neutral collaborative ecosystem.