Waygum, Inc., a Dublin, CA-based technology startup that is building a mobile app platform for the Industrial Internet of Things, received an investment from Hartford Steam Boiler (HSB), part of Munich Re.
The amount of the transaction was not disclosed.
Founded in 2013 by CEO Sundar Krish, Waygum has developed a mobile app environment that allows industrial customers to proactively monitor equipment and services, view and analyze data, manage inventory, and perform other functions — all from a mobile device.
The investment was made by HSB’s strategic corporate venture capital group formed during 2014 that partners with companies across all funding stages that are developing new technologies and services in areas such as the Industrial Internet of Things, cyber security, and energy and energy efficiency. The company is combining its engineering expertise, proprietary data, and operational capabilities with select technology companies to identify opportunities to invent new insurance products, enhance customer service, prevent losses and create new value for its clients.
The San Francisco-based cvc firm is led by managing director Jacqueline LeSage Krause . Previously, she was vice president of the innovation and corporate venture capital group for The Hartford Financial Services Group.