CINCINNATI--(BUSINESS WIRE)--CincyTech, a seed stage investor in digital and life science companies in Southwest Ohio, is pleased to announce an investment in Losant. Losant’s Internet of Things platform allows developers to build complex, connected solutions quickly and easily.
“The possibilities are endless for connected devices. IoT devices can enable predictive maintenance in manufacturing, real-time tracking in logistics companies, connected living in smart cities and improved patient experiences in healthcare, to name just a few examples,” said Losant CEO Charlie Key. "The problem is there are so many different hardware vendors that don't work together. The goal with our platform is to enable everyone to easily connect all of these devices together."
Key and Brandon Cannaday lead the founding team at Losant, which is headquartered in Cincinnati. The pair previously co-founded Modulus, a platform-as-a-service startup with thousands of customers that was acquired by Progress Software in 2014.
“Losant's founders are already proven technology entrepreneurs with a successful exit under their belts,” said CincyTech Managing Director Mike Venerable. “They are now addressing a bigger market and have a bigger appetite to go after IoT, one of the biggest opportunities you can chase. Charlie and Brandon are also committed to the region. They could do this anywhere, but they are happy to build their second successful company in Cincinnati.”
The Losant platform makes connecting a variety of hardware and sensors simple with open-source software development kits (SDKs) and widely adopted communication protocols. Data from these devices is streamed to the platform and can be easily visualized with dashboards or aggregated using the Losant API. Data can be analyzed and acted on in real time using the workflow engine built into the platform.
“Losant is already working with a number of Fortune 500 companies,” said Key. “We're extremely excited for the trajectory of the company and what the capital and engagement from CincyTech will let us achieve."
Losant is the sixth company to receive investment from CincyTech Fund IV, a $30.75M fund which closed in April. Terms of the investment were not disclosed.
ABOUT CINCYTECH
CincyTech transforms innovation into high performing life science and digital companies in Southwest Ohio. Our team provides advice and capital to entrepreneurs, helps research institutions commercialize technology through startups, and catalyzes investment
from individuals and institutions into regional companies. Our companies create jobs, economic vitality and wealth in Southwest Ohio. Learn more at https://www.cincytechusa.com.
ABOUT LOSANT
Losant provides an Internet of Things solution platform that allows developers to build complex, connected solutions quickly and easily. The platform makes connecting a variety of hardware and sensors simple with open-source SDKs and widely adopted communication protocols. Data from these devices is streamed to the platform and can be easily visualized with dashboards or aggregated using the Losant API. Learn more at https://www.losant.com.
