The Internet of Things (IoT) has become a huge industry with new types of devices making life easier and more efficient. As more varieties of IoT tech are utilized both by enterprises and mainstream users alike, the need for interconnectivity platforms to manage them all with the same efficiency they provide becomes apparent to fully utilize IOT potential.
The founding team of Augmate created the organization to address the problem of insufficient interconnectivity between devices whose full potential lies in pairing with other complementary devices. Their device management platform utilizes a combination of distributed ledger, blockchain, and DAG (directed acrylic graph) technology—a hybrid of technologies working together to create what Augmate COO Dana Farbo calls the “atmosphere”: a single system of interconnected components managing every aspect of professional and personal IoT devices.
“Augmate was originally created to serve the needs of connected workers using wearable glass devices to optimize their work. We were an original Google Glass @ Work partner,” Augmate co-founder Dana Farbo said in an interview.
“At that time, there were many app developers but no device management platforms for IT to centrally control their own devices. [CEO] Pete Wassell had the team create an industrial strength platform to make doing so simple and more complete for securing and provisioning IT devices. Augmate is the first to market for this need.”
Pete Wassell, Augmate’s Founder and CEO, was inspired by blockchain and its potential to optimize and transform data interchange. “Blockchain and other distributed ledger technologies are the future of data interchange because they are capable of taking data privacy and security to a new level. Augmate’s vision is to create uncomplicated device management without fear of compromise. No other technologies show as much promise in helping us achieve our vision,” Pete said.
Augmate’s platform provides a material solution—the Augmate Management Portal (AMP)—on which to run device analytics and management for business owners, managers, and engineers of companies up and down the supply chain whose profits depend on them successfully optimizing their device-driven operations.
“Our primary and immediate market is with mid- to large-cap enterprises. These include companies like Intel and UPS but also regional leaders in manufacturing, logistics, healthcare, and other industries that rely on connected networks of devices to help drive costs down and profits up.”
On the enterprise side, Augmate’s interoperable single platform management component allows for application updates to be completed without going to each one, plugging into them and manually updating. Users can schedule these updates individually or in groups, and use data coming from all the devices on the network to run analysis of how each of the devices or groups affects the efficiency of the whole. The platform then allows for aggregation of the usage data into other analytics platforms and adjust the devices in real time to test for improved efficiencies.
On the consumer side, Augmate gives users the ability to aggregate all devices, from smart refrigerators to smart thermostats, Amazon Echo and more into a single management platform. It seamlessly connects to manufacturer platforms via APIs. And, in contrast to other management platforms and financial aggregators like Mint and Yodlee, which do not allow consumers to have a single point of connection to all their finances, Augmate Connect does.
Plus, the distributed ledger component secures all of this activity seamlessly, eliminating the chance of any bad actors breaking into user networks through hacking less secure devices.
In short, Augmate has created a scaled use case for enterprise and personal device management tested by industry giants like Google, and with their first-mover advantage and prestigious investor syndicate, they are well-positioned to lead the IoT space with their proprietary technology.
Augmate Connect will reach the consumer market in 2019. The company founders assert the platform will give consumers the same confidence enterprises gain from centralized management platforms and increased data security and privacy to help them better navigate and optimize their lives. According to CEO Pete Wassell, “consumer devices connecting into enterprise systems become potential vulnerabilities inside enterprise networks. Augmate Connect will alleviate that threat.”