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PingThings

PingThings

Big-Data Software & Data Science Technology for the Utility Industry

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Company Overview

PingThings Inc., is a venture-backed software company that brings best-of-breed big-data software and data science platform to the $2.3 Trillion utility industry. We offer real-time streaming analytics solutions and predictive alerts for events impacting the energy life blood of businesses, consumers and national security.

PingThings is one of only few companies to receive seed funding from GE Ventures and was recently recognized as a top-20 early stage startup at the Siemens New Venture Forum in 2014. Highly exclusive and sensitive transmission data has been processed from some of the largest utilities in North America as well as reliability coordinators processing data from hundreds of utilities from coast to coast. Data proliferation in utilities is exploding at an unheard level driven by the hundreds of billions of dollars of capital invested in smart grid data generation and internet of things (IoT) sensor deployment from multinational manufacturers such as General Electric. We are currently processing data representing almost 20% of utilities in North America and growing. Currently no startup or software company that we know of has access to secure transmission data of this magnitude. We are a very small team of seven professionals passionate about bringing Google-like, internet scale data streaming analytics to capitalize on market demand.

PingThings’ PredictiveGrid™ solution is a model-free, event-driven sensor platform focused on empirical data versus traditional system models and simulations. Our loosely coupled platform enables flexibility and plug and play integration with control room systems. A comprehensive suite of data modeling technologies, including clustering and classification techniques, is applied to real-time, high-fidelity data streams from multiple sources internal and external to the utilities. Our analytics platform enables operators to better manage, maintain and protect assets with alerts to specific events occurring now and the probability that a future event will occur, such as asset failure. PredictiveGrid™ will enable control room operators to proactively manage imminent events and avoid unplanned blackouts that cost the US over $200B each year and threaten national security.

Pitch Deck

Traction

  • Provisional patent for the PredictiveGrid™ platform filed in late 2014

    June, 2016
  • Top 5 largest US utility contract signed for paid proof of concept - increase Paid-Proof of Concept (3 new use cases - total $125,000)

    May, 2016
  • $500,000 Department of Energy grant awarded to us to develop our products and commercialize for market

    May, 2016
  • Awarded Top 20 early-stage startup recognition at the Siemens New Venture Forum in 2014

    June, 2016
  • Major Data Sharing Agreements signed – We are getting data from 20% of all utilities in North America and estimate increase to 40% in 2017

    June, 2016
  • Completed military grade colocation facility – data security audited and approved by Peak Reliability Coordinator and Major US utilities

    June, 2016

Testimonials

William Ruh
William Ruh
CEO, GE Digital
""PingThings is a great example of the type of disruptive software that industries need to scale up the individual Internet, and we're delighted to make an investment in the company.""
K Fund
K Fund
Investor, PingThings
"K Fund invested $250,000 last summer.... and Ping Things has since made significant progress toward its objectives."
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