SAN FRANCISCO--(BUSINESS WIRE)--Element Analytics, a leading developer of analytics data management and integration software for industrial companies, today announced that it has been included in the list of vendors in the report, “Cool Vendors in IoT Analytics” by Gartner, Inc. Element sees this news as the latest sign of momentum for the company: In recent months it has raised almost $20M in equity financing, signed new customers and strengthened ties with a key partner.
According to the report, “IoT analytics is enhancing operational efficiencies, improving customer engagement and creating new revenue streams. Enterprise architecture and technology innovation leaders should take advantage of a new crop of innovative startups that have emerged to address this growing market segment.”
Element is a pioneer in software that processes, manages and integrates large volumes of industrial data from sensors, engineering and operational systems and other sources. The company’s Element Platform™ creates and maintains dynamic digital representations of physical equipment and assets – often referred to as “Digital Twins” – which enable comprehensive, easy and accurate data analysis.
Element’s technology is designed to produce insights four times faster than other approaches and increase data fidelity by eliminating manual data preparation. In addition, the technology can tailor data to the needs of specific teams and applications, and helps ensure on-going data readiness by updating digital twins as underlying assets change.
Element is currently engaged with customers in the metals, oil and gas, chemicals, power generation and oilfield services sectors, joining other clients including a Fortune 50 oil and gas leader. Earlier this month, the company announced it had achieved Microsoft Azure Co-Sell status, meaning it meets Microsoft’s technical and related standards for delivering an optimized and secure solution on Azure. Element announced in January that it raised $19.5M in Series A funding from leading investors in the venture capital and industrial sectors.
“We appreciate this recognition from Gartner, and the support we’re receiving from customers, partners, and investors,” said Andy Bane, CEO of Element. “To us, it’s exciting to see the positive reception for Element and we are gratified and humbled by our progress to date.”
The Gartner report, “Cool Vendors in IoT Analytics,” published May 4, 2018, was written by analysts Mark Hung, Jim Hare and Scot Kim.
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Based in San Francisco, CA, Element is an industrial software company that makes data work for people, enabling analytics and proactively surfacing insight where it’s needed most. The Element Platform rapidly transforms data into actionable insight, helping industrial organizations make the best-informed decisions for greater efficiency, sustainability, and profit. For more information, visit www.elementanalytics.com.