Sumitomo Corporation of Americas Makes Strategic Investment in IoT Software Company ClearBlade

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Nov 21, 2022, 09:15 ET

NEW YORK, Nov. 21, 2022 /PRNewswire/ -- Sumitomo Corporation of Americas ("SCOA") announced today its investment in ClearBlade, an Internet of Things (IoT) company headquartered in Austin, Texas. SCOA's investment will help the company expand its operations internationally and provide SCOA and affiliated companies' access to ClearBlade's world-class software.

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 company has proven success at scale and is ready to expand its operations around the world. Their software is both flexible and scalable.

The new growth capital provided by SCOA and other investors will be used to help grow ClearBlade's software install 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.

"We are thrilled to announce our participation in ClearBlade's growth to provide efficient, scalable, IoT solutions across multiple industries," said Taketo Kokubo, Senior Vice President and General Manager, Media & Digital Business Group, Sumitomo Corporation of Americas. "SCOA and ClearBlade have been working together over the past few years and we are excited to build on the trust and success we have developed together. Globally, Sumitomo Corporation is engaged in many digital transformation projects and we look forward to drawing on our experience and collaborating with ClearBlade. ClearBlade has many innovative and strategic benefits over other IoT companies, and the ecosystem ClearBlade is creating will help bring their unique technology into several new markets."

"Since 2007, ClearBlade has been delivering the most flexible, secure, and scalable software available for IoT. Our award-winning, patented approach is built differently than all others and it is proven at scale across multiple industries," said Eric Simone, Founder, and CEO of ClearBlade. "We are extremely excited to be partnering with SCOA, bringing our innovative technology to Sumitomo business and joint customers around the world."

SCOA is an avid investor in digital and advanced technology and ClearBlade marks the company's first foray into the commercial IoT and Edge computing space in the Americas. 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. Furthermore, this investment aligns with SCOA's company digital transformation initiatives and is a strategic move by SCOA to aid in those efforts.

About ClearBlade

ClearBlade, Inc., headquartered in Austin, Texas, is a privately held Internet of Things (IoT) software company. ClearBlade is an emerging leader in IoT, Edge computing, and AI software across multiple markets including transportation, energy, industrial products, and manufacturing. For more information about ClearBlade, Inc. visit the company's website at www.clearblade.com.

About Sumitomo Corporation of Americas

Established in 1952 and headquartered in New York City, Sumitomo Corporation of Americas (SCOA) has eight offices in major U.S. cities. SCOA is the largest subsidiary of Sumitomo Corporation, one of the world's leading traders of goods and services. As an integrated business enterprise, the firm has emerged as a major organizer of multinational projects, an expediter of ideas, an important international investor and financier, and a powerful force for distribution of products and global communications through a network of offices worldwide. Its core business units include Tubular Products, Environment and Infrastructure, Steel and Non Ferrous Metals, Transportation and Construction Systems, Chemicals and Electronics, Media and IOT Applications, Real Estate, Mineral Resources and Energy, and Food. For more information, visit www.sumitomocorp.com.

SOURCE Sumitomo Corporation of Americas