Candi Controls
Candi | Unifying the Internet of Things.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
Candi Controls, founded in 2009 by Steve Raschke and Mike Anderson, operated as a technology firm specializing in cloud-assisted network device integration and machine-to-machine (M2M) communications. The company was established with the goal of making control systems less costly and easier to use.
The core of Candi's business was a cloud-based Software-as-a-Service (SaaS) platform that enabled service providers, manufacturers, and enterprises to connect, control, and monitor a wide array of devices over the internet. This platform was designed to resolve the complexities of integrating different communication protocols and networks, thereby simplifying the creation and management of Internet of Things (IoT) ecosystems. Candi's technology stack included the "IoT Server," an embedded software solution, and the "Network Operations Cloud," which together abstracted the technical challenges of M2M communication for developers and third parties. The company's target market included service providers in the energy and telecommunications sectors, such as utilities and multi-system operators (MSOs), primarily in the Americas, Europe, the Middle East, and Australasia.
Throughout its operation, Candi Controls secured approximately $6.43 million in funding over several rounds, including a notable $4 million Series B round in June 2015. The company formed strategic relationships with major technology players like Google, Microsoft, and Intel. In May 2018, Altair, a global technology company, acquired all intellectual property assets of Candi Controls. As part of the acquisition, Altair also hired Candi's software and technology team to integrate them into its own IoT organization and enhance its Carriots™ IoT platform. Following the acquisition, Candi Controls is considered an acqui-hired and deadpooled entity.
Keywords: Candi Controls, M2M communication, IoT platform, network device integration, Steve Raschke, Mike Anderson, cloud-based service, protocol integration, IoT ecosystems, Altair acquisition, Carriots, edge gateway technology, smart building solutions, data acquisition, remote monitoring, asset management, IoT server, telecommunications service providers, energy management, machine-to-machine