# Axeda Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/axeda

- Industry: Business Support Services
- Headquarters: Foxborough, US
- Website: www.axeda.com
- Total disclosed funding: $5M
- Latest round: Series B (Oct 26, 2009)
- Investors on record: 1

## About

Axeda Corporation specializes in providing a comprehensive Industrial Internet of Things (IIoT) platform tailored for industrial companies, enhancing operational efficiency and optimizing asset management.Axeda Corporation focuses on enabling businesses to implement IIoT solutions across various industries. In July 2014, the company was acquired by Parametric Technology. The firm is headquartered in Foxborough, US. The CEO is Surender Ranga and the corporation has been involved in a total of 7 deals. The most recent deal occurred on 24th July 2014, and the latest funding round was a Trade Sale, amounting to USD 170.00 mn, which equals the total amount raised.Axeda Corporation offers ThingWorx, an IIoT platform that addresses challenges faced by industrial sectors such as manufacturing and engineering. The platform allows clients to create and deploy IIoT solutions that improve workforce efficiency, optimize asset utilization, and enhance service delivery through real-time data insights and secure connectivity.ThingWorx generates revenue through subscription models and licensing agreements, allowing clients access to tailored applications and tools. Subscriptions are structured based on the scale of solutions, including tiered pricing for connected devices or users. Additional revenue is generated through partnerships across manufacturing and service sectors, with offerings that include connectivity solutions and data analytics capabilities.Following the acquisition in July 2014, Axeda Corporation aims to leverage its resources to enhance the ThingWorx platform and expand into new geographic markets. The company is strategizing to develop new product features, with a focus on improving scalability and integration capabilities. Plans for expansion are directed towards North America, Europe, and Asia-Pacific regions, aiming for substantial growth by the end of 2025. The capital from the recent Trade Sale will be utilized to support the development of these initiatives.

## Funding rounds

- Series B, Oct 26, 2009, $5M — JMI Equity

## Investors

- JMI Equity (https://capitalatlas.ai/funds/jmi-equity) — Series B