LAS VEGAS, Nov. 28, 2017 /PRNewswire/ — ThingLogix, Inc., a provider of cloud-based Internet of Things (IoT) solutions and services, announced today that it is introducing event-based pricing for Foundry, its cloud-based platform (PaaS) for Internet of Things applications. The company announced this change during the annual Amazon Web Services (AWS) conference, re:Invent 2017, where ThingLogix is showcasing its technologies in collaboration with AWS and its other business partners.
For ThingLogix, this change evolves the pricing model from a fixed annual subscription price for Foundry to a usage-based model. The new model allows customers to experience greater flexibility in terms of aligning costs with actual usage volume as they develop, test, deploy, scale, and evolve their smart, connected solutions architected on Foundry and AWS core infrastructure.
For the industry as a whole, this change reflects a significant shift in standard pricing practices, which tend to be opaque, based on arbitrary tiering structures, and misaligned with actual platform usage and the volume of data that deployed devices and solutions actually generate. Such pricing models often lead customers to pay for capacity and capabilities that they do not need. These typical pricing structures also fail to align with the non-linear cloud resource utilization of IoT applications as they evolve from test environments to mature, market-facing solutions.
“We’re very excited to be taking this step, as event-based pricing is really the right thing to do for our customers,” says Carl Krupitzer, Chief Executive Officer and Co-founder of ThingLogix. “ThingLogix has always sought to deliver phenomenal value and capabilities to our customers, and with event-based pricing, we’re able to improve the flexibility they experience while using Foundry, as well as provide full transparency along the entire lifecycle of their smart, connected solutions. We like to say that this is pricing for a smart, connected world.”
A key element of the new pricing structure is a free tier, which will allow companies just getting started with IoT, or companies seeking to compartmentalize their development and test efforts for new IoT solutions, freedom to conduct initial proof-of-concept testing without incurring platform usage charges. As they evolve their solutions from laboratory concepts in test environments to robust, market-facing solutions in deployed environments, they incur charges commensurate with the volume of events that their deployed solutions are generating. Pricing is denominated in micro-cents per event, metered on a monthly basis.
ThingLogix defines an “event” as a single communications transmission from a deployed device or