Cumulus Digital Systems, a Boston, MA-based startup building an Internet of Tools platform for the industrial workforce, raised $8m in strategic growth funding.
The round was led by new investor GEC, with participation from existing investors Brick & Mortar Ventures and Shell Ventures.
The company intends to use the funds to grow its sales and customer success teams in North America and Southeast Asia and its engineering team to add new capabilities to its platform.
Led by Co-founder & CEO Matthew Kleiman, Cumulus provides an Internet of Tools platform that helps owners and contractors prevent accidents and eliminate downtime by collecting data from digitally enabled tools in the field to provide real-time quality assurance and progress tracking of mission-critical work activities. Cumulus’ flagship Internet of Tools product is a patented Smart Torque System (STS), whichb gives facility owners real-time visibility into productivity and work quality during safety-critical industrial bolting activities — enabling them to know who completed the work, how long it took them to do it, and how well it was done. STS has been deployed at energy facilities and data centers in the United States, Canada, the Netherlands, India, Malaysia, Singapore, and Trinidad & Tobago.
FinSMEs
18/01/2020