Everactive

Everactive is a provider of sensor-based solutions for machine health monitoring and steam trap monitoring in factories. The company uses batteryless sensors, which can be attached to the machinery directly. The sensors contain low-power chips that harvest energy from small vibrations, indoor light, and heat differentials. The specialty of this technology is that the system will always function without the need for power-cycling, enabling continuous data collection for improved visibility. This data collected through the sensors are streamed to the cloud, enabling real-time capture and communication of data and insights so that necessary action can be taken immediately in the event of an interruption to operations. According to the company, these sensors can be used for 20 years without routine maintenance, consuming up to 1,000x less power than competitor solutions.

Everactive solutions are offered on hardware-enabled software-as-a-service (SaaS)—the entire product including hardware, configurations, and data management is provided on a subscription basis. The system also uses Evernet, a proprietary wireless protocol that facilitates communication between sensors (up to 1,000) at a range of several hundred meters. The system can also be integrated into workflow software, maintenance management systems, enterprise asset management, and enterprise resource planning systems through the Everactive application programming interface (API). In October 2022, Everactive launched its first development kit to allow third-party developers to build their IoT products.

Funding and financials

The company raised USD 16 million in Series C funding in July 2021 bringing its total funding to USD 114.1 million. During the year ending July 2021, the company reported a 4x increase in revenue while doubling headcount.