Onstream to Receive $2m from Traynor Family Enterprise
3 August 2015 — Onstream, a device intelligence framework provider, is receiving $2 million in funding from Traynor Family Enterprise, a Nevada-based holding company that has backed various technology and industrial ventures, including HawsTEC, Brita® Hydration Stations®, and Cirrus Systems.
Onstream’s device intelligence framework is designed for OEMs and solution providers who want to drive intelligence, responsive behavior, and new product features to networks of smart devices. Onstream’s system activates the brain of each device, creating intelligence close to the device. The framework drives device behavior through a bi-directional communication loop that is completely customizable by the OEM or solution provider.
For companies wanting to do more than just stream data to some distant database, Onstream closes the loop on device intelligence, instantly automating and optimizing device behavior.
“The vast economic promise of device intelligence is still just unrealized potential for many of the companies best positioned to benefit from the Internet of Things (IoT),” said Craig Macy, chief executive officer of Onstream (above). “Onstream is an easily deployable, flexible framework that can solve IoT technology challenges for companies, and create immediate value from streaming data as soon as it leaves the device."
The funding from Traynor Family Enterprise will accelerate the development and optimization of Onstream’s full line of device intelligence products, including Onstream’s proprietary Redirect Service, which allows device owners to conditionally pre-process and stream connected device data to multiple destinations, and to completely control where data is stored and what types of data are instantly processed.
“Onstream’s unique technology, strong market position and experienced team immediately make it a powerful player in the fast-growing world of device intelligence and IoT ,” said Tom White, CEO of Traynor Family Enterprise. “We’re excited to partner with Onstream on a device intelligence framework that has obvious applications for companies seeking to wring more value out of their device data.”
Select clients have already tested and deployed Onstream. Cirrus Systems, a mining solutions provider, uses Onstream as the intelligence backbone for their traffic control and monitoring system that prioritizes, automates and monitors mining traffic to increase efficiency and safety, while reducing vehicle wear.
Onstream has applications in development across numerous industries, including mining, fitness, and wine. Competitive advantages include out-of-the-box device intelligence, flexible deployment, and low latency.
Onstream enables OEMs and solution providers to enrich their products into differentiated, feature-rich, configurable intelligent devices. Onstream provides seamless user interface to control the behavior of devices by setting conditions and intelligent actions. Onstream streams data through a bi-directional loop that interacts equally well with the cloud, fog or local networks. Learn more at http://www.onstream.io.