Cincytech Invests In Losant

We are pleased to announce an investment in Losant, a Cincinnati-based technology company whose Internet of Things platform allows developers to build complex, connected solutions quickly and easily.  The Losant team is pursuing a big opportunity.

“The possibilities are endless for connected devices. IoT devices can enable predictive maintenance in manufacturing, real-time tracking in logistics companies, connected living in smart cities and improved patient experiences in healthcare, to name just a few examples,” said Losant CEO Charlie Key.

"The problem is there are so many different hardware vendors that don't work together. The goal with our platform is to enable everyone to easily connect all of these devices together." When we invest in a company, we invest in people.  Key and Brandon Cannaday lead an impressive founding team at Losant.

The pair previously co-founded Modulus, a 2012 graduate of The Brandery.  The platform-as-a-service startup with thousands of customers was acquired by Progress Software (NASDAQ: PRGS) in 2014.  Serial entrepreneurs like Charlie and Brandon add strength, experience and energy to a growing startup ecosystem.

“Losant's founders are already proven technology entrepreneurs with a successful exit under their belts,” said CincyTech Managing Director Mike Venerable. “They are now addressing a bigger market and have a bigger appetite to go after IoT, one of the biggest opportunities you can chase.

Charlie and Brandon are also committed to the region. They could do this anywhere, but they are happy to build their second successful company in Cincinnati.”

The Losant platform makes connecting a variety of hardware and sensors simple with open-source software development kits (SDKs) and widely adopted communication protocols. Data from these devices is streamed to the platform and can be easily visualized with dashboards or aggregated using the Losant API. Data can be analyzed and acted on in real time using the workflow engine built into the platform. “Losant is already working with a number of Fortune 500 companies,” said Key. “We're extremely excited for the trajectory of the company and what the capital and engagement from CincyTech will let us achieve."

Losant is the sixth company to receive investment from CincyTech Fund IV, a $30.75M fund which closed in April. Terms of the investment were not disclosed.