ThingWorx(TM) Raises $5 Million to Accelerate Growth


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ThingWorx(TM) Raises $5 Million to Accelerate Growth

Expanding the Reach of Its Innovative Platform That Connects the Web to the
“Real World”

DOWNINGTOWN, Pa., Feb. 16, 2011 — ThingWorx(TM) today announced the
completion of a $5 million Series B financing round led by Safeguard
Scientifics, Inc. The proceeds of this financing will be used to further
accelerate the growth of ThingWorx(TM), the company’s revolutionary
application platform for building connected applications.

Founded in 2009, ThingWorx is the first platform designed specifically for
applications connecting people, systems and devices – “the connected world.”
ThingWorx’s disruptive technology provides all of the services and
functionality required to quickly build and deploy secure, high-performance,
connected applications regardless of whether they’re in the cloud, on an
Intranet or on an embedded platform. ThingWorx extends the key functionality
of Web 2.0, social media and the semantic web to the “world of things,”
creating a platform that amplifies the productivity of people through
collective intelligence and user-driven information.

The platform’s unique ability to link people and systems with the physical
world unlocks tremendous value in industrial markets such as manufacturing,
utilities and energy, as well as in emerging “Internet of Things” markets,
which includes smart homes, cities, agriculture, transportation, and

“We are excited to be partnering with Safeguard to capitalize on the massive
opportunity in connected applications,” said Russ Fadel, CEO of
ThingWorx(TM). “Our early customer and partner successes, combined with this
round of financing, have us well positioned to expand the reach of our
organization and allow ThingWorx to quickly achieve ubiquity. We also felt
strongly that Safeguard could bring more than simply financing to our
organization and could provide a number of additional operational and
strategic services to our company”.

“More and more intelligent devices are being connected to the Internet every
day,” said Erik Rasmussen
Vice President and Managing Director of the Technology Group
( at Safeguard
Scientifics, who will join ThingWorx’s Board of Directors
“ThingWorx’s platform is able to take advantage of this trend and capitalize
on its ability to interconnect devices and sensors with computing
intelligence, enabling decision makers to make informed decisions based on
that “smart”
data. We are pleased to welcome ThingWorx to the Safeguard team.”

About ThingWorx

ThingWorx(TM) is a privately held company that develops and markets the
first application platform for the Connected World(TM). ThingWorx combines
the key functionality of real-time data, mashups, search, social media and
the semantic web, and applies it to any process that involves people,
systems, devices and other real-world “things.”
ThingWorx is providing the disruptive change required to catalyze innovation
and enable connected world applications, resulting in a more efficient
planet. For more information contact us at or
follow us on Twitter @ThingWorxSW (

About Safeguard Scientifics

Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. provides
growth capital for entrepreneurial and innovative life sciences and
technology companies. Safeguard targets life sciences companies in Molecular
and Point-of-Care Diagnostics, Medical Devices, Regenerative Medicine,
Specialty Pharmaceuticals and selected healthcare services, and technology
companies in Internet / New Media, Financial Services IT, Healthcare IT and
selected business services with capital requirements of up to $25 million.
Safeguard participates in expansion financings, corporate spin-outs,
management buyouts, recapitalizations, industry consolidations and
early-stage financings. For more information, please visit our website at, our blog at or you can
follow us on Twitter @Safeguard ( and LinkedIn

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