09 Sep Fluke Leads Series C Investment in Everactive to Accelerate Growth in IIoT Solutions
EVERETT, Wash.–(BUSINESS WIRE)–Fluke Corporation (“Fluke”), a Fortive Corporation (“Fortive”) (NYSE: FTV) business, announced today that it led an investment in Everactive, a Silicon Valley-based technology company that sells category-defining batteryless, wireless Industrial Internet of Things (IIoT) solutions. Everactive will raise up to $35M as part of its Series C funding round.
Spun out of the University of Michigan and the University of Virginia in 2012, Everactive develops self-powered industrial monitoring systems. Leveraging its proprietary ultra-low-power semiconductors, which require 1,000x less power than competing circuits, Everactive’s sensor devices generate enough power from small amounts of “harvested energy” to continuously measure, process, and wirelessly transmit equipment and infrastructure health data from a range of industrial assets.
Removing the need for batteries—and the accompanying battery maintenance—facilitates rapid, cost-effective scale that unlocks a wealth of use cases to accelerate digital transformation initiatives throughout the industrial sector. Fluke’s investment in Everactive will advance Fortive’s strategic goal of moving essential technologies forward.
“Everactive’s breakthrough technology enables the ability to scale beyond anything we have previously seen in the IIoT industry,” says Marc Tremblay, President of Fluke.
“We look forward to working with the Everactive team to define new industrial monitoring solutions that unlock a superior value proposition for our customers,” concluded Tremblay.
As part of the investment, Tremblay will assume a seat on Everactive’s Board of Directors.
Founded in 1948, Fluke Corporation is the world leader in compact, professional electronic test tools and software for measuring and condition monitoring. Fluke customers are technicians, engineers, electricians, maintenance managers, and metrologists who install, troubleshoot, and maintain industrial, electrical, and electronic equipment and calibration processes.
Everactive produces data intelligence for the physical world. Operating without batteries, the company’s always-on wireless sensors deliver continuous cloud-based analytics at a scale not possible with battery-powered devices. Everactive’s end-to-end solutions are built upon groundbreaking advances in ultra-low-power circuit design and wireless communication that allow it to power its Eversensors exclusively from harvested energy. The company has developed the required networking and cloud software to deliver an out-of-the-box service focused on providing high-value insights from newly generated and self-sustaining data streams. For more information, please visit: www.everactive.com.
Susan Israel, 425-446-4600