When OneEvent Technologies Co-Founders Kurt Wedig and Dan Parent began looking for a home for their software and data analytics startup, they didn’t have to leave their community to find the right place.
“We want to do good in and for the Mount Horeb community, because this is our home,” says Wedig, the company’s president & CEO. “We want businesses and people here to be the first to benefit from our life-saving, life-changing technology, so we never imagined being anywhere else.”
OneEvent’s vision is to empower the protection of lives and property. The company’s tagline is “Predict. Alert. Prevent.” Wedig says OneEvent is the first company to “disrupt” the life safety and security markets with predictive software because most alarm systems that measure smoke, humidity, carbon monoxide and other factors are reactive, not preventive.
The company’s OnePrevent system leverages a cloud-based analytical engine that processes data collected by wireless sensors to determine what’s normal within a building, home or specific area. By constantly measuring environmental factors such as temperature, air quality, motion and humidity, the system learns the environment’s routine over time. If it receives an abnormal reading, it can determine potential risks, immediately alerting property or building managers to an impending issue or disaster — such as a fire or flood — before the event actually occurs. In UL research testing, the OnePrevent system was able to anticipate a fire up to 20 minutes before the smoke alarms went off.
“Advance notice of these types of situations is incredibly powerful and valuable, because it allows someone to act and prevent damage,” Wedig says.
Systems that can predict damaging or harmful events, such as carbon monoxide buildup, mold damage, flooding and fires are possible today through the power of predictive analytics, Wedig says. Put simply, predictive analytics is the use of data, statistical analysis and machine learning techniques to identify the probability of future outcomes based on historical data.
OneEvent has recently narrowed its target markets to the food service operations sector, including restaurants, grocery stores and cafeterias; and data centers and businesses with data closets, where unmonitored equipment can often overheat or explode. The company is working with several local restaurants to monitor equipment in an effort to prevent food loss, improve food safety, and help their customers avoid slips and falls outside their locations.
OneEvent employs 20 people, from engineers to salespeople and office support staff. The company recently began a $5 million Series A-1 investment round. Previous fundraising rounds brought in $5 million.
Wedig credits the Mount Horeb Area Economic Development Corp. with helping him and Parent, the company’s vice president of engineering, get OneEvent off the ground in its early stage.
“The EDC has given OneEvent exposure and connected us with community leaders and people who became investors, plus others who served on our advisory board in the early stages of the company,” Wedig says. “The businesses in the area have been incredibly supportive, too. Several of them allowed us to install our pilot system to test equipment and validate our software solution, and some are now customers.”
He adds that office space in Mount Horeb more affordable than in larger cities, so that allows the company to minimize overhead expenses.
The Mount Horeb community has fully embraced OneEvent’s vision, Wedig says.
“We’ve raised $5 million right here in southern Wisconsin, a good portion of that from local residents,” he says. “Most of our team members live in Mount Horeb. We’re proud to be homegrown and contributing to our local economy.”