Datanomix Announces $2M Round of Funding to Accelerate Commercialization and Further Development of their Fusion Software
NASHUA, N.H.--(BUSINESS WIRE)--Oct 30, 2019--
Datanomix announced today that it raised a fresh round of capital to fuel commercialization and further development of their Fusion product. The company had an oversubscribed round led by Bruce Sachs, with participation from Wasabi Ventures, York.IE, Alumni Ventures, Argon Ventures, WPI and several local angels.
Datanomix, founded by enterprise data veterans John Joseph (CEO) and Greg McHale (CTO), has pioneered a new way to look at productivity in manufacturing environments with their Fusion software. The platform helps manufacturers manage their factory environments through a novel production scoring system, allowing a rapid response to the most pressing problems.
“This is a vote of confidence from our investors for the value that Fusion is bringing to our customers. This new funding will be used to expand our sales and marketing teams with a strong focus on North American customer growth,” says Joseph.
“Working with multiple early adopters, Datanomix has intelligently synthesized process knowledge with the massive amounts of data and information available on the manufacturing floor to increase throughput and quality. As a result, Fusion provides insight and efficiencies to deliver a strong value proposition. John and Greg have assembled a great team that is ready to scale the business and I am excited about the next growth phase for the company,” says Sachs.
It’s about knowing the score.
“Our ability to deliver a real-time production score to the entire organization has taken us to a whole new level of sophistication in data analytics, improved information flow and closed the time gap between questions and answers. Gone are the days where you are chasing yesterday’s answers - we have set the standard that information is needed about production as it is happening in a way that allows customers to respond intelligently and proactively,” says McHale.
“We were very deliberate with our product development process to maximize value to the customer. We held customer focus groups that were invaluable in setting our course. We spent days on production floors watching people, machines, and interactions, and we saw something very obvious - in spite of ERP terminals, tablets, and various other systems of record - nobody knew the score, and so nobody knew what to focus on to make today a win,” says McHale.
This new round of funding is paving the way for the future.
“This is just the beginning for Fusion. Without tipping our hand too much, let’s just say knowing the score at the job level is step one, but there are many more places this real-time scoring concept can be applied going forward. We are excited to share that with our customers in the near future,” says Joseph.
With Fusion fully released and deployments in several states, Datanomix is expanding nationwide at an increasing rate. This round of funding is set to assist with rapid customer expansion in the Midwest, with accounts already in progress in Michigan, the Ohio Valley, and the Pittsburgh-area.
Datanomix, founded in 2016, is focused on bringing meaningful insight to manufacturers of discrete components and precision parts.
Datanomix leverages data-rich communication languages that have been the standard enabling technology on industrial equipment for more than a decade. Datanomix combines machine learning with cloud-based data processing to produce real-time insights for industrial manufacturers who find legacy platforms and metrics unable to help them manage their production environments.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191030005748/en/
CONTACT: Amanda Uhme
KEYWORD: NEW HAMPSHIRE UNITED STATES NORTH AMERICA
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PUB: 10/30/2019 12:24 PM/DISC: 10/30/2019 12:24 PM