IIoT Company GOFACTORY Secures $2 Million Seed Round

Top Quote Visionnaire Ventures leads the round backing IIoT applications where uptime is critical. End Quote
  • Columbus, OH (1888PressRelease) May 22, 2015 - Industrial Internet of Things (IIoT) company GOFACTORY today announced the close of a $2 million seed round funded by Visionnaire Ventures and a group of seasoned executives in the industrial and manufacturing sectors.

    GOFACTORY, named to Gartner's 2015 Cool Vendors List for Mobile and IoT Security, has developed a versatile, scalable IIoT service that analyzes data from connected assets in real-time and instantly notifies the right people with the information needed to respond to and solve critical issues.

    The GOFACTORY Cloud Service connects machines, sensors, systems and people to drive intelligent action and response. It receives and filters an unprecedented level of real-time data to quickly identify faults and locate and dispatch the right person to address the problem. This is powerful in situations where uptime is essential such as cell towers, traffic signals, alternative energy and oil and gas infrastructure.

    GOFACTORY has a leadership team with deep experience building enterprise-ready products and has confidential solutions operating in the field. Bryan Hughes, GOFACTORY Founder and CTO, has led an engineering effort consisting of thousands of hours of development time behind their IIoT technology platform. With real market validation, they are now ready to scale the team.

    "With this round of funding, we will expand our IIoT solutions to several industries that can benefit from real-time insight and response," said Allan McNichol, CEO of GOFACTORY. "GOFACTORY is different from other IIoT technologies because rather than simply gathering data, we help drive intelligent action."

    The Internet of Things is projected to be one of the fastest growing markets over the next several years. Gartner forecasts that there will be as many as 25 billion connected "things" in use by 2020.

    "GOFACTORY is providing solutions for real-world industrial issues," said Keith Nilsson, co-founder and managing partner, Visionnaire Ventures. "This company has huge growth potential that can span across a variety of different industries and applications."

    Visionnaire Ventures is a global technology investment firm focused on visionary people and ideas that can become world-class, market-leading companies. Other investors in this round include Reuben Brothers, David Clark, Jonathan McQueen, Swordfish Investments and Thomas Kunz.

    GOFACTORY provides an Industrial IoT service that drives intelligent action when uptime is essential. Analyzing data from assets in real-time, GOFACTORY arms the right people with the right information to solve critical issues quickly. GOFACTORY was named to Gartner's 2015 Cool Vendors List for Mobile and IoT Security. Visit www.go-factory.com for more information.

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