Welcome!

News Feed Item

Investment from Kleiner Perkins’ Green Growth Fund Enables Element Analytics to Bring Industrial Software Platform to Market

Today Element Analytics formally announced the Element Platform™, a next-generation industrial software analytics platform that tackles the critical data readiness challenge for industrial operators. With seed funding of $7M, the majority from Kleiner Perkins’ Green Growth Fund, and as a member of both OSIsoft and Microsoft’s Partner Network, Element Analytics is delivering advanced predictive analytics capabilities to the oil and gas, chemical, utility, mining and other asset intensive industries.

“Data readiness is the foundation for advanced analytics, but it’s held back by messy, siloed data - particularly industrial time-series data,” said David Mount, Kleiner Perkins’ Green Growth Fund partner and co-founder of Element Analytics. Along with Sameer Kalwani, vice president of product, David Mount founded Element Analytics in 2015. They set out to provide an industrial software analytics platform that undertakes the heavy lifting of data readiness by automating the mapping of equipment sensor data into asset models and blending it with other operational data. Whereas ‘data wrangling’ is performed manually today, the Element Platform accelerates the process to give industrial organizations the ability to make sophisticated predictive analytics fast, repeatable and scalable.

“Industrial operators face no shortage of data. Mounds of data exist, but getting the data to a ready state is core to making it analyzable, predictive and actionable,” added Mount.

Today, most large industrial operators collect huge amounts of data from their equipment sensors in order to monitor and ensure smooth operations. Often missing is the critical early step of engineering unstructured data. Data readiness imparts the ability to predict equipment failures or malfunctions before an adverse event occurs, thereby avoiding the cost and disruption of unscheduled or emergency downtime. The Element Platform leverages historical data by organizing, joining, and analyzing data across assets and systems to make data explorable and easy to model, enabling operators to look ahead and predict equipment behavior instead of reacting to causes after an occurrence of downtime or failure.

Data and advanced predictive analytics are key to optimizing efficiency of industrial equipment and have a direct impact on asset-intensive industrial business operations. Operational efficiency mitigates risks, improves worker safety, and supports sustainable production methods that streamline business costs. Industrial spending by Industrial Internet of Things (IoT) technology is expected to grow to $125 billion by the year 2020.

The current challenge operators face is that while a lot of data is captured, often it is unorganized or inconsistent. “Industrial data is messy, lacks context and you can’t always trust what sensor data is telling you. That’s a big challenge for those seeking to do diagnostic and predictive analysis at scale in order to modernize and increase the efficiency of their industrial businesses,” said Andy Bane, Element Analytics CEO. “Many industrial IoT projects are held up or fail, because they skip the crucial data readiness step, and assume that the data will just appear. Data must be readied and kept in a constant state of readiness in order to deliver value,” Bane said.

The Element Platform leverages the OSIsoft PI System, the leading enterprise data infrastructure for the Industrial Internet. And as a Microsoft Partner Network member, the Element Platform uses Microsoft Azure and Cortana Intelligence for trusted cloud-based big data and analytics needs. Working together with two leading industry infrastructure leaders was an important development for Element Analytics in 2016.

Element Analytics has begun new deployments in the past quarter with customers in the oil and gas, chemical, transportation and diversified industrial segments.

“Element Analytics’ early-stage venture funding through Kleiner Perkins’ Green Growth Fund and our strong partner work with the OSIsoft and Microsoft programs have given us an excellent base and provided momentum. We are poised for an exciting 2017 as we continue to ramp customer engagements and grow the company,” said Bane.

About Element Analytics

Based in San Francisco, CA, Element Analytics is an industrial analytics software company that makes data work for people, 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.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to o...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.