2018 Highlights Include $28Million in Series a Funding Secured to Bring Large-Scale Machine Learning to Asset-Heavy Industries
Arundo Analytics, a software company enabling advanced analytics in heavy industry, announced significant achievements in 2018 including initiating numerous strategic partnerships, adding prominent board members and expanding its international presence.
“By combining deep data and AI knowledge with decades of cumulative experience in enterprise consulting, Arundo is ushering in a new era in IIoT. We’re starting 2019 with a strong foundation of growth, and look forward to empowering our clients with our proprietary technology and experienced team.”
“Asset-heavy companies can no longer afford to make business decisions based on an incomplete view of their organization,” said Tor Jakob Ramsøy, CEO and founder of Arundo Analytics. “By combining deep data and AI knowledge with decades of cumulative experience in enterprise consulting, Arundo is ushering in a new era in IIoT. We’re starting 2019 with a strong foundation of growth, and look forward to empowering our clients with our proprietary technology and experienced team.”
The practical application of advanced analytics delivers proven results in asset-heavy industries where powerful analytics reduce risk, improve efficiency and allow for faster, clearer business responses based on data, both in the cloud and at the edge. Arundo is a critical component, automating the end-to-end challenges to rapidly applying machine learning and advanced analytics, integrating it into daily business operations, and scaling these applications across assets and throughout the enterprise.
This year, the company raised approximately $28 million (in aggregate) in Series A funding that closed in the first half of 2018, in addition to expanding its global presence to include new offices in Houston, Stockholm, Calgary and London.
In 2018, Arundo also established several strategic partnerships that dramatically advanced the adoption of its software among asset-heavy categories, including oil and gas, manufacturing, shipping and maritime. Notable partnerships formed in 2018 include a collaboration with Dell Technologies to power an IoT solutions bundle for companies in maritime and oil and gas, a joint venture with DNV GL’s Veracity platform to stream data analytics for maritime companies and a partnership with WorleyParsons to power advanced machine learning applications in engineering, procurement, construction and ongoing operations in oil & gas, mining, chemicals, and other heavy industries.
Furthermore, Arundo also announced several new members to its board of directors this year, adding another layer of business, technology and domain expertise to help power the company’s next major phase of growth.