Element Analytics, a San Francisco, CA-based developer of analytics data management and integration software for industrial companies, raised $19.5M in Series A funding.
Backers included new investors GE Ventures, Honeywell Ventures, ABB Technology Ventures, Mitsui & Co., Ltd., Aster and Blue Bear Capital and current investors Kleiner Perkins Green Growth Fund and private investors focused on energy transformation.
The company, which has raised $22M in total equity funding, intends to use the funds to invest in software development, market development and operations.
Led by Andy Bane, CEO, Element Analytics provides software that processes, manages and integrates large volumes of data from a wide variety of sources including sensors and engineering and operational systems. The company’s Element Platform™ creates and maintains dynamic digital representations of physical equipment and assets – to enable accurate analysis. Such analysis can provide insights including when key equipment might fail or optimizing operations in industries such as oil and gas, chemicals, utilities, mining and manufacturing.