Element Analytics Raises $19.5 Million

“LNS Research sees the ability quickly to create a scalable and extensible data model that spans the industrial value chain as the biggest problem to be solved in the whole IoT space,” said Matthew Littlefield, president and principal analyst at LNS Research. “This industrial data model then becomes the foundation for companies to ensure that data from equipment, sensors, and other sources is ready for advanced analytics. With these new strategic investments, Element Analytics has the potential to be a category-creating company that addresses the data model challenge and helps speed the adoption of Industrial IoT solutions and analytics.”

The company plans to use the funding to invest in software development, market development and operations.