Professional services firm KPMG has invested £3 million in Flexeye, a UK technology company that provides a cloud based technology platform to help organisations reduce risks and capitalise on the Internet of Things, and recently dubbed a 'cool IoT vendor' by Gartner.
Flexeye is an in 2005 founded UK technology company which offers organisations a cloud based technology platform to help them implement solutions that unite and analyse real-time data feeds from a variety of sources. The organisations can use this data to better understand risks, make more informed decisions and capitalise on the ‘IoT. The platform uses a combination of Flexeye’s open Internet of Things (IoT) middleware software and 3rd party hardware and applications.
Examples of the application of the technology include the prevention of mis-selling of products in the banking industry, the improvement of efficiency by transport companies and the enhancement public safety by local governments. Flexeye is also the lead partner of the HyperCat Consortium 2014, a UK Government programme that has received £8 million funding.
For KPMG, the investment in Flexeye is in line with its ambition to boost its risk technology advisory capabilities, and will enable it offer its clients the means to understand and reduce risks across a wide number of sectors. John Hall, Financial Services Partner at KPMG, explains: “Today’s organisations need to understand risks in real-time, inform their decisions based on predictive analysis and future-proof themselves to capitalise on opportunities such as the ‘Internet of Things’. We are delighted to be investing in Flexeye, a company whose vision and technology is at the heart of this change. Flexeye has grown rapidly in the past decade not only because their technology addresses the challenges of tomorrow, but it tackles the problems of today.”
Justin Anderson, Chief Executive Officer at Flexeye, adds: “This investment will support Flexeye’s plans for international expansion, as well as solidify the fusion of KPMG's financial services expertise with our leading edge tech solutions.”