The Internet of Things Making Headlines
Posted by | February 22, 2011
Last week, we announced that we provided $5 million in a Series B financing for ThingWorx, a disruptive technology that revolutionizes how people, systems and devices communicate in a newly connected world, commonly referred to as “The Internet of Things.”
The number of things communicating on the internet is set to eclipse the number of people who communicate. ThingWorx extends the key functionality of Web 2.0, social media and the semantic web to the ‘world of things,’ creating a platform that amplifies the productivity of people through collective intelligence and user-driven information. The platform’s unique ability to link people and systems with the physical world unlocks tremendous value in industrial markets such as manufacturing, utilities and energy, as well as in emerging “Internet of Things” markets, which include smart homes, cities, agriculture, transportation, and infrastructure.
Safeguard’s capital deployment into ThingWorx represents some of the first uses of proceeds from the Clarient and Avid Radiopharmaceuticals exits last year. To reiterate, those well-timed put Safeguard in a position of financial strength and flexibility to deploy capital into new, high-growth, high-value companies. ThingWorx fits ideally into our strategy: to partner with growth-stage technology companies that drive growth, realize cost efficiencies and leverage technology through innovation.
For more insight into this new partner company and its potential market opportunity, here’s a recap of some of the recent media coverage about this announcement:
- TechCrunch was one of the first outlets to cover the announcement, which was syndicated by other online sources such as BuzzBox.com, InvestorGuide.com and Business Insider.
- Philadelphia-area publications including Daily Local News, Philadelphia Business Journal and the Philadelphia Inquirer interviewed ThingWorx’s co-founders Russ Fadel (Chief Executive Officer) and John Richardson (Chief Operational Officer) about how the company puts its technology to work.
- Then, Richardson shed light on “The Internet of Things” in an interview with Flying Kite; and
- Technically Philly highlighted the Series B financing as part of its Venture Capital Roundup.
We welcome ThingWorx into the Safeguard family, and look forward to working with its management team to build a great business.
