Grovestreams IoT platform
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| Startup Name * | GroveStreams |
| What problem are you solving? | Providing actionable intelligence in the cloud for the Internet of Things as massive amounts of data arrives. |
| What is your solution? | Our solution is to apply today’s business intelligence capabilities to the internet of things along with the following capabilities: – Device and stream modeling – Device data logging – Data Visualizations – Complex expression based stream analytics – Event detection with Notifications – Geo tracking – Public API that exposes almost everything – Big Data (we can manage millions to billions of streams) – SaaSGroveStreams is more than an application. It is a cloud platform that many applications can be built on top of.Many vertical IoT applications will be built in the coming years. We want GroveStreams to be the platform of choice for these new applications. Customers can use us as is or build their own unique solution on top of us. Think of us as the Oracle of the Internet of Things. |
| Why is this a great opportunity? | McKinsey Global Institute: “We estimate the potential economic impact of the Internet of Things to be $2.7 trillion to $6.2 trillion per year by 2025…”Several IoT cloud platforms have entered the market in the last few years, but none provide the capabilities and the reliability that GroveStreams provides at the low fees we charge. Most of our customers come from these existing platforms.The market is hungry for a low cost IoT solution that scales – one that can answer the tough questions as data arrives from all of their data sources, including devices. |
| Target Market | Our primary target market is solution providers. These are consulting companies that already have a large client base but need the tools to build their next generation solution.Other Markets: – Utilities – Governments – Health Monitoring Companies – Environmental Companies – Hardware Hobbyists (or future entrepreneurs) |
| How will you make money? | – Small users (and test-drivers) are free – SaaS fees. We charge $0.05/month per data stream and $0.05/month per 10,000 cloud http transactions. – Private cluster leasing and maintenance fees – Consulting fees |
| Founders Names | Mike Mills |
| Website | https://www.grovestreams.com |
| What type of funding has the company received | Bootstrapped/self funded |
Our opinion: Fast growing space, no clear winners, good they have traction and customers already
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