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HighByte Raised Series A Funding to Propel Growth in Industrial DataOps Market

HighByte Raised Series A Funding to Propel Growth in Industrial DataOps Market

HighByte®An industrial software company has announced its Series A funding round led by Standard Investments, a platform investing in growth companies at the digital-physical intersection. The round is supported by existing HighByte investors, including Exposition Ventures, Maine Venture Fund, and outstanding convertible note holders.

The new funds will primarily support research and development, strategic partner management, and customer success initiatives to accelerate market penetration and increase deployments in existing accounts.

Ben Sampson, Managing Director of Standard Investments, said:
“HighByte's unique Industrial DataOps platform enables data collection, analysis, and applications that can significantly enhance physical industrial operations. At Standard Investments, we leverage technology to shape the industrial world. We are committed to investing in companies that are on the rise, and we are thrilled to be partnering with Highbyte in its next phase of growth.

Importance of Data Ops in Industry:
DataOps aligns people, processes and technology to securely deliver reliable, ready-to-use data to all relevant systems and personnel. As manufacturers and industrial firms collect increasing volumes of operational data, Industrial Data Ops emerges as a critical approach to leveraging this data for efficiency, safety and cost reduction. According to Gartner®, DataOps represents a $3 billion emerging technology market, which is essential among data and analytics leaders to address the increasing data infrastructure complexity.

High Byte Solution:
HighByte's industrial data ops software solution, HighByte Intelligence Hub, empowers manufacturers to integrate, generate and deliver modeled industrial data to and from IT systems without code maintenance. Launched in 2020, HighByte Intelligence Hub has been deployed by more than 60 industrial companies in 18 countries with multi-plant facilities.

A statement from Tony Penn, CEO of Highbyte:
“In 2023, we tripled ARR for the third consecutive year and confirmed product-market fit across diverse verticals. Building on this success, we look forward to expanding global partnerships to meet growing consumer demand. , and want to invest more in the business to recruit additional talent to drive innovation and responsiveness. This investment clarifies our mission and is critical to our next phase of growth.

Founded in 2018 by a team with over 50 years of experience in the industrial data domain, including CEO Tony Paine, a Kepware alumnus, HighByte has raised a total of $16.5 million in equity funding.

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