Rebranding Reflects Indiana's IoT Growth

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McDonald says, over the years, "our mission, capabilities and potential have evolved." McDonald says, over the years, "our mission, capabilities and potential have evolved."
FISHERS -

The chief executive officer of Fishers-based ClearObject, formerly CloudOne, says its new brand shows the company's focus on what he calls "the biggest thing since anything." John McDonald says the Internet of Things "fundamentally changes absolutely everything," adding IoT impacts everything people do in their daily lives. McDonald shares the growing belief that Indiana can be a global leader in IoT, because the state's economy is driven by companies that "make things, grow things and move things."

The company was founded in a basement as CloudOne in 2010, and has reported compound annual growth rate of over 300 percent since then. About a year ago, McDonald says he noticed many of the company's clients were "struggling to bring together different elements of the Internet of Things." He says he realized shortly afterward that the company's future would be in helping companies understand "what their objects were doing."

McDonald says the rebranding will have no effect on the company's structure, and all of its employees will play a large part in the continued IoT focus. The change comes as ClearObject works on plans to expand to a second location in central Indiana, which it plans to detail next month.

In April, the company announced a $9 million round of funding, led by Michigan-based Plymouth Ventures and also involved investors including Indiana's Elevate Ventures and former Indianapolis Colt Ryan Diem. In total, the company has received nearly $22 million in equity investments since 2010.

The Internet of Things has seen an increased focus from stat tech leaders. Indiana Chief Innovation Officer Ian Steff said the industry is "ours to lead" at September's IndyIoT summit at Launch Fishers. McDonald helped organize that event, which also featured executives from companies including Tom Farms, Delta Faucet Co. and Cummins Inc. (NYSE: CMI).

That same week, a traveling exhibit focusing on the Internet of Things stopped in central Indiana on its nationwide tour. The exhibit featured products from Indiana companies including Carmel-based pi lab, the maker of Edwin The Duck, SteadyServ Technologies and Schlage Lock Co.

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