Latest venture-backed startup makes IoT accessible to all business people
LONDON, April 30, 2019 /PRNewswire/ -- Pilgrim Beart, the key man behind British Gas' innovative Hive platform and the UK's most successful IoT project to date, has announced his successful funding round of £1.5m, securing the resources to expand DevicePilot - an IoT analytics platform built to work across all verticals.
Beart's previous successes include Hive, sold to British Gas for $100m, and Antenova, selling billions of antenna systems and now in use in most mobile phones. His latest venture, DevicePilot, is a software-as-a-service (SaaS) designed to be used by anyone who wants to use IoT to solve a business problem, regardless of technological experience. Their solution allows any business person to build IoT solutions within 15 minutes of connecting their sensors. The funding follows Microsoft's recent pledge to spend $5bn building out its IoT proposition, as the industry continues to boom whilst IoT technology becomes more widely leveraged by businesses globally.
"This is a really exciting time," says CEO Pilgrim Beart, "Not just for DevicePilot but for the IoT industry as a whole, because now anyone can build an IoT solution. Our zero code integrations with leading device manufacturers as well as popular IoT services from AWS, Azure and Google, plus business platforms like Zendesk, Salesforce and Slack, are removing the barriers to industry growth.
Now, the internet of things is evolving - just like the internet itself did."
The round was led by Maria Dramalioti-Taylor of Beacon Capital - who will be joining the board alongside DevicePilot chairman, Rob Dobson - plus investors Pontaq & 8point Capital and further investments from original angel investors including the founders of Skyscanner, Moonfruit and Pachube.
About the Internet of Things:
- There are 20.4bn devices expected worldwide by 2020
- There's a potential for £250k additional revenue captured when using IoT analytics software
- Users see a 4x reduction in customer support resolution time with DevicePilot
- Companies will invest $15tn in IoT between 2017 and 2025
- Industrial IoT devices are expected to add $14tn to the global economy by 2030
DevicePilot is a SaaS company based in London, UK, providing the device analytics needed to analyse performance, track KPIs and trigger actions from IoT devices. The company works with IoT industry leaders to help grow businesses whilst keeping operational costs down. Unlike DIY systems, the tool is easy to use and infinitely scalable. For more information, please call +44 207 520 7073 or email firstname.lastname@example.org
About Beacon Capital LLP:
Beacon Capital is a venture capital firm based in London, UK, that invests in early-stage, B2B technology startup companies, primarily in the UK. Founded in 2012, Beacon has invested in more than 20 startup companies at pre-series A stage including category-defining ones such as Topia, Epignosis, Ometria and Lifebit. The market capitalization of the portfolio exceeds $600m at the time of writing, a 9x increase since its founding.
Pontaq is a UK registered venture capital fund with a core USP of cross border technology transfer between UK and India. Since inception in 2015, the firm has been capitalizing on the massive opportunity of "#Innovation #Startup #Scaleup" through its UK India Innovation Funds (UIIF). The fund comprises of a team of seasoned entrepreneurs with multiple exits and an experienced VC. The fund invests into both software and hardware-based technology firms across UK and India in the B2B/ B2B2C space.
About 8point Capital:
8point Capital ("8point") is a technology investment firm with a core focus on working with founders to scale across Asia and the Middle East. Strategically based out of Hong Kong, and deeply rooted in the Middle East, we leverage our networks across both regions for the benefit of our partners.