Sumitomo Corporation of Americas ("SCOA") announced its investment in ClearBlade, an Internet of Things (IoT) company. SCOA's investment will help ClearBlade expand its international operations and provide SCOA and affiliated companies' access to their IoT software. SCOA and ClearBlade have been working together over the past few years.
ClearBlade's IoT, Edge, and AI software has been in use at some of the largest companies in North America, spanning several industries including transportation, energy, industrial products, and manufacturing. The flexible and scalable software has proven success at scale and is ready to expand around the world.
The new growth capital provided by SCOA and other investors will be used to help grow ClearBlade's software installed base and to support those customers via SCSK USA Inc., a Sumitomo Corporation's IT service company. Looking ahead, ClearBlade sees significant opportunities in the transportation and energy sectors. Their recent launch on the Google Cloud Platform has brought them substantial new SaaS business from around the world, specifically in the Asia Pacific region.
ClearBlade marks the company's first foray into the commercial IoT and Edge computing space in the Americas. The ecosystem ClearBlade is creating will help bring their technology into several new markets.
With its integrated global network, ties to emerging technologies, and longstanding relationships throughout several markets, SCOA is well-positioned to help ClearBlade achieve its growth goals. This investment aligns with SCOA's digital transformation initiatives and is a strategic move by SCOA to aid in those efforts.
ClearBlade is one of many industrial IoT edge software companies covered in ARC’s upcoming market analysis “Industrial IoT Edge Software Platforms with Compute.”