Predixion Software

About Predixion Software

Predixion Software, established in 2009, operated as a specialist in edge analytics software until its acquisition by Greenwave Systems in September 2016. The company was founded by a team of serial entrepreneurs including Stuart Frost, Simon Arkell, Steve DeSantis, Jamie Maclennan, and Michael Coffman. Frost was previously the founder of DATAllegro, a data warehousing firm acquired by Microsoft, while Arkell, a two-time Olympian for Australia, brought experience from several technology ventures. Their collective background in large-scale data solutions and enterprise software shaped Predixion's direction.

The firm's core business was providing real-time, predictive analytics for the Internet of Things (IoT) market. Its flagship product, Predixion RIOT, was an edge-based analytics platform designed to run advanced analytics directly on devices, gateways, and routers. This approach contrasted with cloud-centric models by processing data at the source, enabling immediate insights and actions for applications like predictive maintenance and operational efficiency improvements. The technology utilized a patent-pending Machine Learning Semantic Model (MLSM), which allowed complex analytical packages to be embedded in devices with limited processing power. The business model targeted clients in sectors such as healthcare, manufacturing, and financial services, offering solutions both in the cloud and on-premise.

Throughout its operation, Predixion Software secured significant funding, totaling $35.8 million over five rounds from investors including Accenture, General Electric, and Software AG. Key milestones included a $20 million Series C round in 2013 led by Accenture, which also involved a partnership to co-develop analytics solutions for its clients. In September 2016, Greenwave Systems acquired Predixion to integrate its real-time edge analytics capabilities into Greenwave's AXON Platform for IoT and M2M. Following the acquisition, Predixion's CEO Simon Arkell assumed the role of GM of Software Platforms for Analytics at Greenwave, and the RIOT product was rebranded as AXON Predict.