Thingworx Receives $5MM from Safeguard Scientifics

We recently reported on Thingworx, “a revolutionary platform designed to accelerate the development of applications connecting people, systems and devices.” Yesterday Safeguard Scientifics announced that it has invested $5 million in Series B financing in the Pennsylvania-based startup. According to the President and CEO of Safeguard, Peter Boni, “Safeguard is now in a position of financial strength and flexibility to deploy capital into new, high-growth, high-value companies,” companies like Thingworx.

In the announcement Russell Fadel, co-founder of Thingworx commented, “The capital from Safeguard Scientifics, along with the team’s domain expertise and operational support, will enable us to execute our vision and realize the value of this disruptive technology.”

Fadel also commented on Thingworx’ “disruptive technology” as he calls it: “An Internet primarily composed of people is giving way to an ‘Internet of Things’ where every device and every system is connected… Because of this, applications will have to change from a hierarchical, pull-driven model dominated by people to an event-driven, peer-to-peer approach with more flexible collection and storage schemas than anything enterprise software offers today. And that’s exactly what we’ve set out to do at ThingWorx.”

Image: Courtesy Thingworx