Riptide IO
Riptide – Transforms Small Buildings into Smart Buildings.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | $1.0m | Series A | |
| Total Funding | 000k | ||
Founded in 2012 by Mike Franco, Shaun Leimbrock, and Marti Ogram, Riptide IO developed cloud-based software to simplify building management. Franco, serving as CEO, brought 30 years of corporate management experience from real estate and technology sectors, including executive roles at Cisco Systems and Compaq Computers. The company's focus was to provide building owners with remote visibility and control over their physical operations, enabling them to monitor and manage their properties without being on-site.
Riptide IO's core business revolves around providing data integration, management, and analysis solutions for the Internet of Things (IoT) in commercial buildings. The company's primary product was a software platform consisting of 'BrightEdge' for device integration and management, and 'BrightWorks', a cloud application for data storage, analysis, and visualization. This system was designed to be compatible with existing equipment, offering an affordable way for customers with multiple building sites to transform them into smart buildings. The software empowered facilities teams with analytics, diagnostic tools, and notification systems. Clients included prominent names like Nordstrom, Walgreens, and Google.
The company raised a total of $5.5 million over three funding rounds, including a Series A round in 2018. A significant milestone in the company's history was its acquisition by Turntide Technologies on March 1, 2021. At the time of the acquisition, Riptide's software was helping manage over 50 million square feet of space. The acquisition was part of Turntide's strategy to expand into building automation and enhance its own Building Operating System (BOS) platform. All Riptide employees, including the founders, joined Turntide following the acquisition.
Keywords: building management software, IoT for buildings, smart building solutions, cloud-based building automation, facility management software, building energy management, remote building control, data integration for buildings, commercial building IoT, BrightWorks platform, BrightEdge platform, Turntide Technologies acquisition, Mike Franco, building operations, property technology, SaaS for real estate, commercial real estate tech, equipment monitoring, building analytics, diagnostic tools for buildings