We’re excited to announce a $2 million strategic investment from our energy management and automation partner, Schneider Electric, representing their continued confidence in our solution and vision in the market. The funding will be used to further expand our team and accelerate the development of our flagship software, Clockworks. What’s more, this investment positions our companies for long-term collaboration and leadership in the facilities services industry while allowing KGS the independence to remain nimble and adaptive in such a fast-growing industry.
Responding to Rapidly Evolving Facility Management Requirements
When we started KGS back in 2007, we knew that customers didn’t just need tools to build their own analytics; they needed automated and intelligent analytics that could actually drive action in an effective and affordable way.
Purpose-built in the cloud, we’ve developed the only solution on the market with a truly scalable architecture and deep analytics library, delivered through a Software-as-a-Service (SaaS) platform that is constantly improving to align with our customers’ needs.
With facility managers quickly realizing the need to adopt a more proactive approach to their building operations management, we’ve seen significant growth both in KGS’ Building Analytics platform, a key component of Schneider's connected services portfolio, as well as our own solution, Clockworks. This growth has spiked most notably because we offer a complete solution for fault detection and diagnostics (FDD), not a rule-writing tool set. Facility managers are able to translate analytics into action, and action into documented results. We’ve also helped transform Schneider’s service business from traditional maintenance and break/fix to a more proactive and predictive maintenance services organization with automated FDD functionality.
Leveraging this round of funding, we’re doubling down on the development of many of our core functions to help facility managers improve building performance by:
- Identifying and prioritizing important issues
- Acting on these issues
- Documenting and reporting on the results
We’ll be integrating with even more maintenance management systems, reporting platforms and other third party interfaces to ensure that the cycle from information, to action, to documented impact is simple yet powerful.
Building a Proactive Future for Facility Managers
Facility managers today are facing tighter budgets, aging infrastructure and higher energy costs. Our continued partnership with Schneider will help organizations move beyond reactive maintenance strategies based on repairing equipment after the failure point. Instead, their approach to building management will be much more proactive and informed, improving operational performance and bottom line results.
Our tremendous relationship with Schneider Electric has already enabled us to expand our global reach to many incredible teams looking to deliver information-based, results-driven facility services. And as our team continues to grow, we’ll be focused on expanding specifically in segments where we’ve found facility managers need us most — healthcare, pharmaceuticals, laboratories, universities, corporate and commercial real estate. We’ve already seen incredible results from many of our market-leading customers and are ready and eager to continue pushing the envelope in the industry with our automated FDD solution.
Take a look at our recent coverage in the Wall Street Journal and VentureBeat for even more on what this funding means for the building analytics industry. And in addition to today’s exciting news, we have many more big updates in the pipeline for 2016, so stay tuned by subscribing to our blog and keeping in touch with us on Twitter @KGSBuildings.