MachineMetrics

MachineMetrics is a developer of an industrial IoT platform designed to offer production monitoring software for the manufacturing industry. The company's platform offers real-time visibility, deep manufacturing analytics and AI-driven predictive notifications, enabling manufacturing industry to increase their productivity.

Their fully automated manufacturing analytics solution provides visualizations of real-time manufacturing production data, predictive notifications, as well as historical analytics, allowing factory workers to make decisions based on real-time data. MachineMetrics has worked to simplify IoT for the shop floor.

Users of MachineMetrics have the ability to monitor and manage the health of their equipment in real-time with "self-install" connectivity. They can receive alerts when anomalous behavior occurs, such as a tool that's about to break. Users can manage preventative maintenance schedules tied to actual machine usage or conditions, and be alerted when maintenance is due. MachineMetrics helps track equipment utilization over time to manage capacity and configure alerts based on machine condition or alarm. Their platform intends to help optimize tool life with detailed analytics and reports and is designed for CNC Machine Tools.

MachineMetrics is a machine agnostic platform that can connect to most machine tools through ethernet. Through their software platform, users can receive diagnostics and reporting with data, data charting, and alarm history; they can receive AI-drive analytics to monitor simple rules, workflows and provides alerting; and MachineMetrics provides applications built on their monitoring platform and developer integration for their API for users to build new IoT applications for their specific use cases.

MachineMetrics revenue model is based on a software-as-a-service model, with a software license and API their diagnostics and monitoring software works through. AWS Marketplace lists a starting cost for a 10-machine package which includes a single edge device with a 12 month cost of $12, 750; a 24 month cost of $24,750; and a 36 month cost of $36,750. Further applications and edge devices would increase cost and their support and service calls would bring their own costs. MachineMetrics' estimated revenue for 2019 was $3 million.

MachineMetrics competitors include Sight Machine, which provides an analytics platform for quality and productivity challenges; SensrTrx, a manufacturing analytics application analyzing data from factory floor for key metrics; Vitria Technology, which provides operational intelligence and business process management solutions; Drishti, a digitization platform for the manufacturing industry; Seeq, a software service that converts industrial data into information; and FogHorn Systems, which is a developer of edge intelligence software for industrical and commercial IoT applications.