Augmate

Augmate provides tools that help large enterprises introduce, secure, and manage "wearable" devices such as digital eyeglasses in their workplace.

Simply put, it's built a technology platform that allows IT administrators to remotely operate wearable devices through a management portal.

PROBLEM
Wearable technologies such as digital eyeglasses and GPS-enabled beacons have proven to provide huge Return on Investment for a variety of industries including manufacturing, aerospace, logistics and healthcare. But to be effective inside large enterprises, these digital tools need to be part of an infrastructure:

Enterprises need tight security, integration with other applications, and scalability.

SOLUTION
Augmate's "Wearable Environment Management Platform" enables enterprise IT Managers, developers and others to efficiently manage fleets of wearable devices.

Its platform enhances device security while providing "policy management" tools that enable application and connectivity management, sensor data collection, and beacon management. It does this securely and remotely from a single administrator portal. Its solution is available both in the cloud and on-premise.

As Internet of Things solutions spread throughout various industries, Augmate’s platform helps bridge the gap that ties human workers to machines.

The company's mission is to accelerate "Industry 4.0" by facilitating the proliferation of hands-free wearable technology throughout the enterprise.

The company is backed by some of the biggest industrial companies on the globe, including Siemens and UPS.

Looking forward, Intel will be putting Augmate's solution into its Internet of Things gateway.

And Augmate predicts that its monthly recurring revenues by the end of 2020 will reach more than $18 million.

Team Background

Alex Barkan - CTO

Alex is a fullstack Software Engineer.

He has founded his own technology start-ups, and has worked as a senior engineer for companies including the Global Gaming League and NBC Universal.

He earned his Bachelor of Science in Computer Science from City University of New York-Brooklyn College, focusing on Artificial Intelligence.

Pete Wassell - Founder & CEO

After earning his BS in Management & Information Services from Clarkson University, Pete joined the Special Forces in the US Army.

He was then a Program Director at IBM for 10 years, running multi-million dollar programs.

More recently, he was a Legislator in Dutchess County, New York, where he helped pass more than 1,000 laws.

Co-Investors

Rothenberg Ventures

Venture firm focused on Millennials. Investor in AngelList, Robinhood, SpaceX and Karma.

UPS Ventures

The venture arm of UPS.

Siemens Venture Capital

The $100 million venture unit of the German industrial giant. It invests in young companies with promising industrial technologies.

Simon Venture Group (SVG)

The corporate venture capital arm of Simon, an S&P 100 company and the largest retail real estate company in the world. The fund invests in retail technologies that enhances the shopping experience both online and offline as well as investing in rising new brands.

Excell Partners

Economic development partnership established in cooperation with the University of Rochester and the State of New York.

Timothy Draper

Legendary venture capitalist. Founder of DFJ Ventures.