I have spent the last 23 years in a series of successful (thankfully!) technology start-ups. Each has had its own trajectory and, as 2012 is now upon us, I would like to take a minute to reflect back on ThingWorx’ trajectory as measured by its significant accomplishments. Building the next generation application platform, the 1st Application Platform for the Connected World™, is a lot of work. After almost 20 man years of development under our belts at the start of 2011, and a great team in place, we expected great things. And, our optimism (and hard work) was rewarded.
In 2011 we:
- Transitioned from a self-funded start-up to a venture-back entity in February, through a $5M investment from a great venture firm, Safeguard Scientifics (SFE).
- Brought to market the first two releases of our ground-breaking Connected Application Platform – V1 “platform” and V2 “mashup builder” in February and September respectively
- Acquired Palantiri Systems, a well-respected innovator in the M2M space. We ended up with significant IP, talent and vertical expertise which has us well on the way to dominating the next phase of the M2M market
- Grew staff by more than 300%, building a strong team primarily through prior relationships
- Achieved great early industry recognition by Gartner as a “2011 Cool Vendor”, selected by Postscapes as a one of the “Top 100 Thinkers influencing the Internet of Things”, and previously as an M2M Pioneer by Connected World Magazine.
- Recognized by AlwaysOn as one of the Venture Summit Mid-Atlantic 100 winners, and recognized as one of the “Hottest Companies in Pennsylvania” by Lead411
- Achieved customer adoption across a wide range of our target verticals, including: smart grid, transportation, industrials, M2M, smart cities, life sciences, and public health & safety
- Started expanding our global footprint with partners in South America, Europe and Australia
In a broader sense, the transition to a connected world is accelerating – companies are moving more quickly than we had expected, investing to extend (or create) business processes to leverage the value and ambient awareness offered by the explosion of smart devices and equipment. During 2011 companies like GE, Google, Cisco, Intel and SAP, and others have announced plans to make significant investments in the Internet of Things (aka the connected world). This is great news for us at ThingWorx, and with a multi-year head start, the 1st Application Platform for the Connected World™ is perfectly positioned for a great 2012 and beyond.
Stay tuned for great stuff from ThingWorx™ in 2012!