Cognosos Triples Income in 2022; Raises $25 Million to Solidify Being a Chief in Asset Visibility
ATLANTA – March 8, 2023 – Cognosos at this time introduced it has raised a development spherical from Riverwood Capital with an preliminary major funding of $25 million to solidify its place because the chief of clever asset monitoring. Most of the world’s most recognizable manufacturers–together with the biggest vehicle producers and healthcare suppliers–use Cognosos’ real-time location companies (RTLS) and course of optimization software program platform to trace their belongings’ actions, enhance their operational visibility, and maximize productiveness safely.
Healthcare and automotive manufacturing are among the many high industries driving the US financial system, and each are experiencing margin stress due primarily to larger prices for labor and provides. To handle this, companies in these vital classes are turning to Cognosos’ RTLS expertise and course of optimization software program to enhance asset visibility and garner insights that drive better effectivity, enhancing buyer and worker experiences alike. Cognosos’ patented wi-fi networking expertise and AI-powered location engine drastically reduces deployment timelines enabling enterprises to implement extremely correct, real-time asset visibility in a fraction of the time required for legacy RTLS options. In 2022 alone, Cognosos tracked over 37 million asset actions for its prospects (with purposes in completed automobile logistics, yard administration and hospital asset monitoring/orchestration).
This new funding might be used to expedite development and momentum throughout all components of the enterprise. Cognosos will proceed to recruit and rent high expertise in each division, whereas considerably increasing its go-to-market efforts in automotive, healthcare and logistics classes in addition to new segments. As well as, funds might be used to speed up the event and deployment of platform enhancements and complementary choices that may present prospects with even deeper operational insights that can be utilized to fulfill their ongoing effectivity objectives. Riverwood Capital’s Joe De Pinho and Eric Ma will be part of the Cognosos Board of Administrators.
“Cognosos’ proprietary expertise and AI-powered location software program platform is permitting prospects to take a wholly new method to asset monitoring and course of optimization, permitting them to do extra with much less and make smarter, sooner, and higher enterprise selections,” stated Francisco Alvarez-Demalde, Co-Founder and Managing Accomplice, Riverwood Capital. “We’re impressed with the Cognosos group, their distinctive expertise and are excited to accomplice with them on the following part of development. The Firm’s providing has a superior whole value of possession and less complicated deployment whereas sustaining business main accuracy. Logistics and processes’ optimization are taken to a brand new degree, in contrast with legacy options,” he added.
Cognosos is already working with among the greatest organizations in healthcare and manufacturing and is seeing demand for its distinctive expertise and software program platform with new prospects at a report tempo. The corporate’s mixed {hardware}, synthetic intelligence powered software program, and analytics resolution delivers extremely correct asset monitoring capabilities with out the necessity of expensive infrastructure, a big departure from legacy merchandise which might be hardware-centric, much less dependable, and require frequent upkeep.
“Enterprise leaders can’t afford to take hits to their backside line simply because they don’t know the place issues are, however traditionally the massive whole value of possession has made the funding in an RTLS resolution unfeasible,” stated Braxton Jarratt, CEO of Cognosos. “Our light-weight structure and AI-powered location engine are game-changers, drastically lowering prices and set up timelines, and making RTLS a really enticing funding. With our expertise, prospects are remodeling and optimizing their operations with a better degree of insights and seeing significant financial savings and effectivity whereas they do it.”
Cognosos’ patented method to RTLS combines Bluetooth Low Vitality with AI, and proprietary long-range wi-fi networking expertise to realize breakthroughs in value, efficiency and accuracy. The end result: an ultra-lightweight footprint with minimal infrastructure that permits high-confidence asset location accuracy, and actionable insights that produce a measurable, hard-dollar, monetary return.
Along with being voted top-of-the-line locations to work in 2022 by Atlanta Enterprise Chronicle, the corporate was lately honored with the gold placement at 2022 Advantage Healthcare Awards, the 2022 IoT Platforms Management Award from IoT Evolution and the gold placement for 2023 Advantage Automotive and Transportation Awards.
About Cognosos
Cognosos is paving the way in which for the following technology of real-time location techniques (RTLS). Supporting the most important manufacturers in industries like healthcare, automotive, logistics and manufacturing. Cognosos’ cloud-based software program, and ultra-lightweight footprint delivers an unparalleled mixture of value and efficiency, lowering time-to-value, growing ROI and eliminating the standard deployment boundaries of legacy techniques. For extra data, go to our web site or observe us on Twitter and LinkedIn.
About Riverwood Capital
Riverwood Capital invests in high-growth corporations within the expertise and technology-enabled industries. Riverwood gives a novel mixture of operational, strategic, expertise, and monetary perception to portfolio corporations that usually want development capital and experience to scale on a worldwide foundation. The agency seeks to spend money on established companies with a confirmed expertise and enterprise mannequin, and the right match when it comes to tradition and values. Riverwood was based in 2008, and had the chance to spend money on and help over 70 corporations since inception, which have grown revenues at 47% per yr on common throughout that interval. The Agency has workplaces in Menlo Park, CA; Miami, FL; New York, NY; and São Paulo, Brazil.
