BURLINGTON, Mass., Jan. 15, 2020 /PRNewswire/ -- CIMCON, the leading global provider of smart city technologies, announced today that it closed its 2019 fiscal year with a record number of city-wide agreements for its lighting management system, significant international sales growth, and record-setting sales for the company's NearSky™ smart city platform. In addition, the company continued to lead the market with its smart city and lighting management technology, winning all of the industry's major innovation awards, receiving a US patent for NearSky's ability to deliver a distributed "data center" via a city's streetlight infrastructure, and extending the company's technology lead by introducing third generation of its NearSky platform that provides cities even more capabilities and flexibility to improve city services through sensors, cameras and other smart city IoT devices.
The year 2019 was marked by the following specific achievements:
The company experienced strong growth internationally for its lighting management and smart city platforms. This included the company's first projects for its NearSky platform outside of the US and record-breaking sales in Latin America, where the company was involved in large-scale strategic projects, including projects in La Reina, Chile and Belo Horizonte, Brazil.
The company continued to expand its technology leadership by introducing products and product enhancements with a common theme to simplify every aspect of delivering outcomes. The lighting management system was enhanced with mobile applications that accelerate installations and reduce lighting management costs. In addition, the lighting management system expanded its lead in interoperability and network support by being certified to be compatible with the Wi-SUN standard for IoT devices and by expanding its support to include narrow band IoT (NB-IoT) networks. The company also extended its technology lead by introducing the next generation of the NearSky platform which offers more edge processing capability and dynamic lifecycle management capabilities.
The NearSky platform received unanimous, global recognition for its innovative capabilities to help cities create an outdoor internet of things to improve city services. The platform won all of industry's most prestigious awards for innovation, including the Gold Edison Award for innovation in the IoT category, the LightFair Innovation Award in the controls category, and the Lux Award for "Connected Lighting Innovation of the Year". In addition, the company received recognition as one of Boston's most innovative companies. These awards reflect the transformational value of the NearSky platform for turning an existing, passive light pole into a dynamic asset through which the city can sense what is happening on city streets and respond appropriately to improve city services and quality of life.
The company expanded its distribution and technology partnerships, including the NearSky Connect partnership program, which enabled CIMCON to launch a suite of ready-to-deploy, pre-packaged applications for the NearSky platform and dramatically simplify the deployment of smart city solutions, including solutions to monitor road conditions, count vehicles and pedestrians, detect and respond to unexpected sounds, improve public safety, and check air quality.
The company closed its Series C funding round of $33 M at a significantly higher valuation. The new funding includes an innovative revenue-sharing funding model that will empower cities with greater fiscal flexibility so they can readily invest in smart city improvements.
CIMCON also relocated its corporate headquarters to Burlington, Mass. in order to accommodate current staffing and in anticipation of future growth. The company expanded its workforce globally to more than 150 employees.
"I am very excited by what we have achieved in 2019. We have made significant investments in people, technology, partnerships and processes that should serve us well into 2020 and beyond," said Anil Agrawal, CEO of CIMCON Lighting. "We are well equipped to continue to innovate and simplify consumption of outcomes that our customers want and expect with a financial model that is right for them."
With a heritage of over 25 years of innovation and experience in industrial automation and outdoor wireless applications, CIMCON provides the most proven and most complete smart city solutions to global cities and utilities. The company is the world's leading provider of scalable, intelligent wireless outdoor lighting management solutions for traditional, LED and solar-based streetlights, and the company's smart city platform provides an easy way to deploy, manage and maintain smart city devices and applications. Focused on offering solutions that provide the lowest "Lifecycle Cost of Ownership," CIMCON provides hardware and software technologies that allow cities and utilities to monitor, maintain and in many cases, monetize their assets and other devices on or near the light pole. CIMCON's "Just in Time Lighting™," reduces energy, maintenance and repair costs while improving the quality of lighting services and enabling the path to a smart city. For more information, please visit www.cimconlighting.com.