The Missouri Technology Corporation (MTC) has announced a $100,000 co-investment in Mingo, a manufacturing analytics company based in St. Louis, MO.
Founded in 2015, Mingo is a cloud-based Software-as-a-Service application, purpose-built so manufacturers gain visibility into their plant floor through machine and operator data. The solution provides IoT connectivity, data collection, pre-built analytics dashboards, and insight into the factors affecting availability, performance and quality.
A version is available for Original Equipment Manufacturers (OEMs) as well, closing the manufacturing loop and adding value for their customers.
Bryan Sapot, CEO and founder of Mingo says, “Mingo is a mature product with customers using it all over the U.S. Our customers know manufacturing analytics is at the heart of a technology revolution. With more visibility into what’s actually happening in the plant, they can make evidence-based decisions to ensure on-time delivery of their products, lower production costs by eliminating bottlenecks and reducing scrap, and increase capacity and throughput of the entire plant.”
“Missouri is investing in a growing manufacturing sector and the technology that will support it,” said Bill Vega, Interim Executive Director of the Missouri Technology Corporation. “With Mingo, we see a company bringing innovative solutions that drive productivity forward, not just in Missouri, but in any factory.
MTC’s co-investment is designed to spur growth by investing in startups with a mature product, a strong performance track-record and a forward-thinking leadership team. With matching investments, the MTC is helping early-stage companies in their pre-seed rounds execute their strategic plans for growth while investing in innovation and job growth in the region.
“This co-investment is fuel for growth,” Sapot said. “It allows us to build a world-class team and invest in the types of channel marketing that puts us in front of our best customers and helps spread the Mingo message that for the first time, there’s an affordable Software-as-a-Service solution in the marketplace that solves manufacturers’ visibility challenges.”
Mingo is based out of the 4220 Duncan Ave building in the Cortex Innovation District, St. Louis’ innovation hub. The company was an 2016 Arch Grants winner and a member of the inaugural 2017 Ameren Accelerator program. The company is revenue positive with 5x revenue growth in 2018 and is actively hiring.
“We’re committed to growing our team here in St. Louis,” Says Sapot, “Since we started, we’ve enjoyed the benefits of a vibrant innovation community and deep talent pool. It’s the reason why we have such a great solution in the market today.”
