APX Labs Closes New Round of Funding to Connect the World's Industrial Workforce

Nov 18, 2015, 08:00 ET from APX Labs

WASHINGTON, Nov. 18, 2015 /PRNewswire/ -- APX Labs, the developer of the Skylight platform for enterprise wearable technology, today announced that GE Ventures participated in its most recent round of financing. The addition of GE Ventures as an APX Labs investor accelerates their common vision to digitally transform the industrial enterprise.

APX Labs' most recent funding round was led by NEA. Additional investors in the round include CNF Investments, GE Ventures, Salesforce Ventures, SineWave Ventures, and others. With this new round of investment, APX Labs has raised $29 Million to date. 

"APX Labs is a stand-out among the innovative companies using software to transform the industrial world," said Ralph Taylor-Smith, managing director, GE Ventures. "This emerging space has captured the attention of nearly every industry and we see huge potential in their technology to lower costs, increase productivity and improve safety. We are already doing pilot trials of Skylight, and we're excited about the potential it has to impact and transform entire industrial sectors."   

"We're proud to have GE as a customer, a partner and now as an investor," said Brian Ballard, CEO and co-founder, APX Labs. "Our experience connecting the people of GE with smart glasses to the data, machines and colleagues they need for their job shows the vast untapped potential in the industrial enterprise. APX Labs and GE have a shared vision for how technology can unlock this value."

APX Labs' Skylight product enables people to do important hands-on jobs, using a range of wearable devices. Companies using Skylight have realized significant operational benefits, including improved process efficiency, less downtime, higher production quality and lower costs. Skylight is used by many of the largest organizations in the world, and it was recently recognized by industry analyst, Frost & Sullivan as the category-leading product in enterprise wearable software. 

Additional Resources:

About APX Labs
Since 2010, APX Labs has been the market leader in developing wearable technology for the hands-on workforce. APX Labs' Skylight software product runs on many types of devices, integrates with existing business systems, and is used today in a wide range of industrial operations including manufacturing, field service, repair, training, and compliance. For additional information, visit www.apx-labs.com.

About GE Ventures
GE Ventures is committed to identifying, scaling and accelerating ideas that will make the world work better. Focused on the areas of software, advanced manufacturing, energy and healthcare, GE Ventures helps entrepreneurs and start-ups succeed by providing access to GE's technical expertise, capital and opportunities for commercialization through GE's global network of business, customers and partners. GE Ventures offers an unparalleled level of resources through its Global Research Center, including: 35,000 engineers; 5,000 research scientists; 8,000 software professionals; as well as 40,000 sales, marketing and development resources in over 100 countries. For more information, please visit geventures.com.

About New Enterprise Associates 
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $17 billion in cumulative committed capital since inception, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions. www.nea.com

About Salesforce Ventures
Salesforce Ventures—Salesforce's corporate investment group—invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world's largest cloud ecosystem and the guidance of Salesforce's innovators and executives. With Salesforce Ventures, portfolio companies can also leverage the expertise of the Salesforce Foundation to incorporate its 1-1-1 model of integrated philanthropy to make giving back part of their business model. Salesforce has invested in more than 150 enterprise cloud startups since 2009. For more information, please visit www.salesforce.com/ventures.

Media Contact
Katherine Verducci
MIX Public Relations
apxlabs@mix-pr.com

SOURCE APX Labs



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