Sonicu Poised for Growth by PTC's $6.5M Capital Investment
We are very pleased to announce a major investment by Protective Technologies Capital (PTC) in Sonicu.
Greenfield, IN, Release: November 20, 2020. For Immediate Release
Sonicu and Protective Technologies Capital (PTC) announce a $6.5M commitment of capital to accelerate Sonicu's growth and expansion plans. Founded in 2008, Sonicu is an Internet of Things (IoT) technology company and a leading provider of remote wireless monitoring solutions.
Sonicu has grown to serve a broad range of industries including; healthcare, life sciences, pharmaceutical, lean manufacturing, food safety, and industrial applications. Their web-based, SoniCloud software platform provides simplified implementation and scalability for enterprise customers, advanced asset protection, and streamlined regulatory compliance.
The SoniCloud platform is hosted on Amazon Web Services and utilizes wireless sensors that monitor sound, room pressure, room conditions, cold-chain temperatures, -80 freezers, ultra-low/cryogenic temperatures, ambient room temperature and humidity, and IoT applications. Sonicu sensors transmit data securely via available 4G/5G LTE, WiFi, and/or Ethernet. Users securely access SoniCloud from any web-enabled device for remote access and visibility from anywhere 24/7.
Sonicu's system commonly replaces inadequate, labor intensive manual data logging and legacy data logging/monitoring systems, while complementing existing building management systems found in larger facilities to provide a significant ROI and cost savings. Sonicu's best in class alarm handling architecture combined with built-in redundancy of data transmission, storage, and power, make the Sonicu system the most powerful asset protection and compliance platform available.
Regarding the investment, Sonicu CEO Nick Tuttle adds his perspective: “I am extremely excited and humbled to have PTC partner with Sonicu. Their sizable investment will allow us to immediately hire software and hardware engineers and accelerate our expansion, as we continue to provide cutting-edge monitoring technology to all current and future customers. PTC's investment validates all the hard work our executive team and employees have put into Sonicu over the years. I am looking forward to a bright future with significant next steps for Sonicu.”
Tim Fries, Co-Founder of PTC shares: “We are a unique and different type of investment firm. We partner with high-performing, high-potential sensing, protection and control businesses by offering resources and experience to navigate change and accelerate growth. Sonicu meets our investment criteria perfectly and we plan on helping the management team accomplish its growth and productivity goals.”
Dennis Karr, Co-Founder of PTC adds: “Protective Technologies Capital was founded with vision of partnering with businesses exactly like Sonicu. We have the flexibility to meet the needs of business owners considering an outside capital partner and we are resolutely committed to upholding our core values.”
This transaction is effective Friday, November 20, and leaves the entire executive team of Nick Tuttle (CEO), Jason Young (CTO), Joe Mundell (CRO), and Clay Hopf (CFO) in place.
For information about Sonicu or product inquiries visit: www.sonicu.com or contact Nick Tuttle: ntuttle@sonicu.com
For information about Protective Technologies Capital please visit www.ProTechCap.com or contact Dennis (dkarr@protechcap.com) or Tim (tfries@protechcap.com).
