Last updated on July 2nd, 2019 at 09:04 pm
Leadership: Joe Scanlin, co-founder and chief executive officer
What it does: Measures human behavior with intelligent floor sensors and predictive analytics platform
Next goals: Raise a series A funding round
Funding: $500,000 angel round, 2013; $2.5 million seed round, 2016.
Just this year, startup Scanalytics Inc. has formed several key partnerships to help it get to the next stage of growth.
The Milwaukee-based company measures human behavior with intelligent floor sensors and a predictive analytics platform deployed in commercial, retail and home environments. In 2017, it officially partnered with Intel, won a Cisco competition and earned an award from the U.S. Department of Energy.
“I think a big portion of our inflection point for this year has been the materialization of what we felt the company has always been,” said Joe Scanlin, co-founder and chief executive officer.
Intel’s global salesforce can now resell Scanalytics products and the companies work collaboratively to assist large enterprise customers.
The Cisco partnership resulted from winning an IoT for business development competition hosted by Cisco. The companies together created a product to communicate Scanalytics data to a building’s occupants via Cisco’s Spark cloud collaboration program.
The DOE Advanced Research Projects Agency-Energy award totals more than $850,000 and will be used to apply Scanalytics’ technology to reduce energy use in commercial buildings by quickly and accurately measuring the number of people in the environment and adjusting the lighting and HVAC.
Other large customers include Raytheon Co., Qualcomm Inc. and Microsoft Corp.
Scanalytics’ floor sensors have so many applications, other companies, such as Milwaukee’s manufacturing productivity-focused Improovment LLC, have now started to build products using its technology. Another startup is looking at its use by law enforcement for active shooter situations.
“Given our growth activity as of late, we’re going to be raising our series A,” Scanlin said. “The round for us has a very heavy focus on taking advantage of where the company is at thematically.”
The size and timing of that round still have to be hammered out, he said.
“We’re thinking about buildings as turning them into an application marketplace,” Scanlin said. “If Intel wanted to use the data that we’re creating from the floor to create a security application…we would be able to provide access to that application to all of our existing customers.”
Scanalytics’ customers are starting to create new applications themselves, as well.
“Our fastest growing list of customers are buying it as an API, so buying it to take the data and put it into other applications or build new applications,” Scanlin said.
Creating a framework to build those applications has been driving Scanalytics’ growth, and its need for additional capital. Scanlin plans to add another five to eight employees in 2018.
“I don’t know when, but there’ll be a point when we’ll be considering how to grow our physical footprint, as well,” he said.