SYDNEY, Dec. 30, 2015 /PRNewswire/ -- Buddy Platform, a Seattle-based company delivering a highly secure, global platform for accessing and analyzing data from IoT (Internet of Things) devices, appliances and sensors, today listed on the Australian Securities Exchange (BUD.ASX). The listing follows a successful public offer of shares that raised AUS$12.5 million at AUS$0.10 per share, and a further AUS$2.6 million in options exercised at AUS$0.20 per share, to fund the company's international business expansion and continued innovation of the Buddy Platform technology.
According to IDC's latest "Worldwide Semiannual Internet of Things Spending Guide," worldwide spending on IoT will climb from US$698.6 billion in 2015 to nearly US$1.3 trillion in 2019. The Asia-Pacific region leads IoT spending in 2015, accounting for more than 40% of the worldwide total. While Manufacturing and Transportation are the vertical industries spending the most on IoT in 2015, US$165.6 billion and US$78.7 billion, respectively, IDC forecasts Insurance, Healthcare and Consumer to account for the fastest IoT spending growth within the next five years. Buddy defines this total addressable market (TAM) for IoT as the "Quantified Economy."
"Following the incredible success of web and mobile technologies, the world is now on the verge of a new era, comprising a growing global network of IoT devices, appliances and sensors. By enabling the data from hundreds of millions of these connected devices to be accessed, Buddy is well-positioned to be the foundational platform that enables the Quantified Economy," said David McLauchlan, CEO, Buddy. "With our leading data management and processing capabilities, businesses can unlock this opportunity and gain immediate benefit from the valuable streams of data that have proven to be difficult and costly to tap."
Buddy Platform has significant capabilities to process and manage data generated by any connected device at large scale and high velocity. It enables organizations to analyze data from an IoT device then make it actionable, in real time, using their existing BI (business intelligence), M2M (machine to machine) and other systems. Requiring the addition of only three to five lines of code in any connected device, Buddy Platform helps businesses gain a dynamic understanding of customers and markets, while realizing the economic value of data generated by connected devices. Users represent a wide variety of industries worldwide, such as airlines, agriculture, automotive, consumer electronics, robotics, software development, telecommunications, transportation, and government. (View video here)
"Buddy successfully fills a gap in today's market for a platform that enables real-time access and analysis of data generated by connected IoT devices for prediction and optimization, the areas where IoT's greatest value lies," said Richard Borenstein, Chairman of Buddy's Board of Directors, and Chairman, Sequoia Partners. "As Buddy embarks on its next phase of growth, I am confident we will see rapid innovation and continued leadership in the technology that is enabling a Quantified Economy."
Buddy provides a SaaS (software as a service) platform that operates between the components that connect devices and the tools that analyze IoT data. The platform feeds data from devices and sensors into databases or analytics systems organizations are already using. Comprising three interdependent components, Buddy Platform receives data from any connected device, processes and manages the data, and then delivers to customers a shaped feed of the data or real-time results of queries on their data streams.
- Connect – A set of cloud-hosted APIs physically located in various regions around the world, to which any connected device can stream its telemetry, current state, error status or other information.
- Process – Shape and manage the data pushed to Connect, and choose to host, sandbox or stream data in a variety of locations around the world to comply with data sovereignty laws and requirements.
In addition, in alignment with data privacy and security policies and standards, Buddy's own technology enables the platform to receive very large amounts of data, calculate the queries or count the events prescribed by the customer, and then either save the data or permanently throw the data away while still recording the query results or event counts sought.
- Integrate – Use completely custom-crafted APIs that customers can call to get real-time results of queries on their data streams. It also can push data via an industry-standard open database connection, or directly into customers' big data systems such as Hadoop. Integrate can also connect directly into a range of business intelligence systems, including Microsoft Dynamics, Salesforce.com, Splunk and Tableau.
About Buddy Platform
Buddy Platform Limited (BUD.ASX) provides one of the world's first data aggregation and management platforms for the IoT and connected devices. Buddy advances the Quantified Economy by providing the critical infrastructure by which businesses and organizations can, in real time, access and analyze the data generated by connected devices, and unlock the economic opportunities delivered by this data. Buddy Platform users represent a wide variety of industries, including airlines, agriculture, automotive, consumer electronics, robotics, software development, telecommunications, and transportation. Buddy is headquartered in Seattle, Washington, with offices in Adelaide, Australia. For more information, visit www.buddy.com.
SOURCE Buddy Platform