What does PingThings do?
PingThings, is an innovator of predictive technology for electric utility industry. It brings an innovative solution and a real time big data technology for physical systems together for transforming the way high value industrial assets like step down transformers and GSU transformers and electric utility grid are managed. The company’s PredictiveGrid technology is designed with sensor analytics and it focuses on storing and manipulating the time series data and models complex relationship between the high resolution signals of synchrophasors.
How much PingThings was funded?
PingThings raised an undisclosed amount in Venture round on April 23rd, 2015 from the investors GE Ventures and Frost Data Capital.
- $1M in Seed round on April 21, 2014 from GE Ventures and Frost Data Capital
- $1.4M in Seed round on January 15, 2015 from Frost Data Capital and GE Ventures.
What is next for PingThings?
The innovator in predictive technology for electric utility will use the latest undisclosed amount of funding raised in the Venture round to grow its initial deployment at big cities in U.S. utilities and also for expanding its sales team
More about PingThings
PingThings was founded on April 21st, 2014 by Rich Sootkoos and Jerry Schuman. It has its headquarters in San Juan Capistrano, CA. With PredictiveGrid technology PingThings brings the predictive intelligence solutions to the electric utility industry. This technology combines predictive analytics, sensor data and embedded expertise to help electrical utility companies in optimizing asset health, minimizing environmental disruption and improving grid stability. PingThings brings the best practices regarding big data with its deep understanding of real time sensor data and machine learning techniques. It is built on a software which can bring a change. It supports a large array of technologies which can plug in to replace something which people are not familiar with.