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Industrial IoT Company OSIsoft Raises New Financing

Industrial IoT Company OSIsoft Raises New Financing
Credit: osisoft.com

Software startup OSIsoft announced it has raised a new round of financing from SoftBank Group.

OSIsoft delivers the PI System, an industry standard in enterprise infrastructure for management of real-time data and events. With installations in 107 countries, the OSIsoft PI System is used in manufacturing, energy, utilities, life sciences, data centers, facilities, and process industries. The PI System helps users manage assets, mitigate risks, comply with regulations, improve processes, drive innovation, make business decisions in real time, and identify competitive business and market opportunities.

According to the company, Softbank purchased a significant minority interest in OSisoft from Kleiner Perkins Caufield & Byers, TCV and Tola Capital. As part of the investment, OSIsoft and Softbank will collaborate on developing new products and services enabling digital transformation and the industrial internet of things (iIoT) and on strengthening OSisoft’s presence in new markets.