Engage Ventures Is Backing ThingTech On Its Mission To Help Organizations Reach New Levels Of Efficiency By Leveraging The IoT To Provide Actionable Data And Real Time Digital Insight
Engage Ventures announced that ThingTech is one of eight startups selected to participate in its Spring 2018 accelerator program. Engage Ventures, the largest grouping of strategic corporations in a venture fund, brings together a $16.5 million venture fund financed by AT&T, Chick-fil-A, Cox Enterprises, Delta Air Lines, Georgia-Pacific, Georgia Power, Intercontinental Exchange, Invesco, Home Depot, and UPS.
“Reflecting on our journey as a tech startup, I believe that connecting with Atlanta’s technology community has been a key to our success,” said Tim Quinn, CEO & Co-Founder of ThingTech. “Beyond the incredible talent pool Atlanta has to offer, startups like us need customers to sell to. Atlanta offers an incredible field of enterprises looking for connected technology solutions. And Engage Ventures is helping us meet that demand by providing support and access to 10 tremendously successful corporations seeking digital transformation.”
ThingTech customers want to achieve digital transformation through the Internet of Things (IoT). Assets—whether vehicles, heavy equipment, or power generators—that aren’t maintained properly will perform poorly, delay service delivery, result in costly breakdowns, and put the safety of workers at risk. ThingTech delivers purpose-built solutions for asset and maintenance managers seeking IoT-enabled solutions that can prevent and predict equipment failure using data analytics.
Through the IoT, we are helping government agencies meet the increasing demands of government transparency and shrinking budgets. In the private sector, we help companies accelerate cost savings and revenue growth by transforming operational data into actionable intelligence.
ThingTech combines devices, network connectivity, and software applications to deliver a scalable, end-to-end IoT platform. Our customers own and operate high-value assets—vehicles, heavy equipment, facilities, infrastructure, mobile work force. And they desperately want to connect to these expensive “things” in real-time to manage, maintain, and utilize their assets more efficiently to improve safety, reduce costs, increase revenues, streamline operations, and create more connected customers. Our target industries are transportation, construction, field service, and state and local government where elected officials around the country have pledged to build their urban centers into smart cities.