by Brianna Crandall — December 9, 2015—Daikin Applied Americas recently announced that it is acquiring a minority ownership stake in Riptide IO, a California-based software company that focuses on helping building owners connect, manage, and automate building equipment by bringing the full benefit of the Internet of Things (IoT) to commercial buildings.
Riptide IO has been a strategic partner to Daikin Applied in developing Daikin Intelligent Equipment, which the partners say is the industry’s first true cloud-based technology platform for heating / ventilation / air-conditioning (HVAC) equipment that harnesses the IoT.
The current Riptide IO leadership team will continue to drive the company’s strategy and day-to-day operations. Daikin Applied President and CEO Michael Schwartz will join the Riptide IO board of directors.
Daikin’s technology is helping building owners acquire and leverage useful and actionable analytics to deliver comfort to visitors and occupants with the most cost-effective and sustainable use of energy.
Riptide IO brings experience that includes working with marketing-leading, customer-focused organizations that prioritize sustainability and energy efficiency, including several Fortune 100 companies.
The Riptide IO team has a track record of bringing cloud-based automation to small buildings that translates to lower complexity and focuses on making it easy for customers to create smarter buildings and a better run business.
The partners say they are working to transform the HVAC industry beyond next-level efficiency to total building solutions, helping building owners get to new levels of efficiency by unlocking the power of IoT. They plan to drive growth in mid-market building automation and accelerate how IoT will transform the commercial building experience.
