Prescient Devices, Inc. (PDI), a leading provider of SaaS based IoT solutions, announces today that it closed a $2 million round of financing to expand its Prescient Designer low-code solutions platform by addressing the rapidly growing IoT market across the industrial and enterprise space.
The round was led by Z5 Capital and additionally fueled by a class of super-angels from the software, IoT, cloud services industries, and leaders from the Massachusetts Institute of Technology and the Harvard Business School. PDI will use the funds to expand its end-to-end, low-code IoT SaaS solution as well as ramp up sales and marketing programs.
For years the promise of IoT and the next stage of digital transformation to bring greater visibility and stronger programmable automation out to every product, device and process at the edge, has been thwarted by current approaches and the real-world complexity realization of the encompassing process. Focusing on accelerating the next wave of innovation within the manufacturing, smart buildings, utilities, intelligent transportation, and risk management, Prescient Devices redefines IoT, without the complexity through their Prescient Designer platform that enables engineers to design and manage agile IoT/AI solutions.
Prescient Devices’ distributed low-code programmable platform allows system integrators, IT/OT engineers, and data scientists to build sensor-to-cloud IoT and edge computing solutions with simplicity and scalability. The platform supports turnkey solution templates from the sensor to the cloud, providing remote monitoring and industrial automation solutions businesses can deploy into real-world environments on day one, then scale and customize as needed.
“We uniquely focus on removing the technology barrier for engineers, integrators, and data scientists to build, and accelerate IoT applications, helping deliver new business applications to the commercial market. The growing interest and active engagement from our users have been amazing,” said Andy Wang, co-founder and CEO of Prescient Devices. “Our growing community has already developed active IoT applications for predictive maintenance, machine vision, and test automation within weeks of concept and transforming the entire approach to IoT business automation and edge intelligence applications. This round of funding will help accelerate our ability to better support our customers while expanding Prescient Designer’s functionality.”
Support from the IoT, Edge Device Manufactures and Investment Community
The company has a strong advisory board including leading technologists and business leaders in AI and IoT. With this round, Prescient Devices will add key industry leaders to its Board, including Professor Charles Sodini from MIT and Saqib Syed, software entrepreneur and investor.
“I am excited about Prescient’s pragmatic and creative approach to handling the scale and complexity of emerging IoT deployments,” said Hari Balakrishnan, Professor of Computer Science and Artificial Intelligence at MIT and CTO of Cambridge Mobile Telematics (CMT). “Prescient Designer is an end-to-end solutions platform that enables low-code designs and provides a unified management framework with intuitive interfaces and has the potential to truly transform how IoT systems are implemented and managed at scale.”
“Low-code software has transformed application development across industrial automation and is now poised to do the same for IoT systems, particularly given the disjointed, complex and inflexible tools users are working with today,” said Glen Almendinger, president of Harbor Research. “Prescient Devices low-code, open-source development platform takes a refreshingly new approach to IoT solutions, incorporating critical elements of Node-RED. Prescient Designer leapfrogs the current market’s noise and clutter by viewing enterprise-class IoT applications development and support as a unified challenge that can be managed by a single, scalable solution.”
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