E.On, NEC invest in Space-Time Insight
Space-Time Insight, provider of situational intelligence solutions, said E.On SE and IT provider NEC Corp., have led an $8 million investment in the company
The majority of Space-Time Insight's current investors also participated in the strategic round of financing which the company will use to accelerate growth on multiple continents. NEC's investment follows the formation in 2014 of a strategic partnership with Space-Time Insight in Japan and the Asia Pacific.
With a combined annual revenue of over $170 billion, E.On and NEC bring Fortune 1000 muscle to Space-Time Insight's initiatives in North America, Europe and Asia, where the challenges of big data and the opportunities of the Internet of Things are fuelling demand for the company's real-time visual analytics software.
Space-Time Insight provides situational intelligence for the Internet of Things, correlating, analyzing and visualizing data from any number of assets and sources to help business users make faster, more-informed decisions. In 2013, Space-Time Insight doubled sales and achieved similar growth in 2014. The company's customers include eight of the twenty largest utilities in the U.S.