What Prizm does

Prizm (legal entity: Nextwave Inc.) is a South Korea-headquartered IoT platform company founded in 2011 that provides end-to-end connectivity for legacy industrial machines and sensors. Its stack combines proprietary edge hardware—the PRIZM Core Neo Board (an ESP32-S3-based 40mm x 40mm controller with LTE Cat. 1 bis and Wi-Fi) and the PRIZM Gateway Enclosure (an industrial gateway supporting cellular, Wi-Fi, LoRa, GNSS, and 12+ industrial protocols including Modbus RTU, PLCs, CAN bus, SDI-12, RS-485, MQTT, I2C, SPI)—with a cloud platform that features a no-code Blueprint Editor for edge applications, an AI-assisted Dashboard Editor for visualization, OTA firmware updates, and AI-driven analytics for anomaly detection and predictive maintenance.

The company targets industrial operators across manufacturing, batteries and energy storage, energy and utilities, transportation and fleet, marine, industrial automation, smart agriculture, and healthcare technology, with a core value proposition of retrofitting legacy equipment in hours rather than months and at substantially lower per-asset cost than traditional integrations. Go-to-market is hybrid: a product-led growth motion with a permanently free tier (up to 10 devices) and self-serve subscriptions priced at $199/month (Essential) and $399/month (Professional), combined with an enterprise field-sales motion for custom multi-year deployments requiring custom device blocks, message limits, and data retention up to one year. Distribution is via a direct online store (store.prizm.io), a self-serve cloud dashboard (dashboard.prizm.io), and enterprise sales engagement.

The company is privately held with no disclosed institutional investors or funding rounds, operates with 11-50 employees out of the TIPS Town innovation district in Daejeon, and reports no publicly disclosed revenue.

Name

Prizm

Legal name

Nextwave Inc.

Website

https://prizm.io

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Prizm (Nextwave Inc.) is a South Korea-based IoT platform that retrofits legacy industrial machines and sensors using proprietary hardware gateways, a no-code cloud platform, and AI analytics, serving manufacturing, energy, transportation, marine, and healthcare operators via hybrid PLG and enterprise sales.

Ownership category

akta.pro rank

Product category

Industrial IoT Platform

NAICS

Computer Systems Design Services (541512), Computer Systems Design and Related Services (54151)

SIC

Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Unified Endpoint Management (UEM/MDM/MAM) Security (HDADAEAE)

akta.pro secondary industry

End-User Device Management (UEM/MDM, Desktop/Laptop/Tablet) (BPAEAIAB)

Keywords

• Industrial IoT platform
• Edge computing hardware
• Legacy machine connectivity
• Cloud device management
• Predictive maintenance software

Headquarters

HQ city

Daejeon

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Supply Chain, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Cloud Platform Subscription: Tiered subscription model with four levels: Free (Basic), Essential ($199/month), Professional ($399/month), and Enterprise (custom pricing). Pricing scales based on connected devices, message volumes, alerts, and data retention periods.
2. Hardware Sales: Sale of PRIZM hardware products including the Core Neo Board (compact IoT controller) and Gateway Enclosure for connecting legacy equipment to the platform.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Prizm delivers an end-to-end Industrial IoT platform that combines proprietary edge hardware (PRIZM Core Neo Board and PRIZM Gateway Enclosure) with a cloud-based management platform for device connectivity, real-time data visualization, AI analytics, and automated on-device control. It enables operators of legacy industrial equipment to retrofit machines, PLCs, and sensors without rip-and-replace and configure monitoring, alerts, and automation through no-code editors. The platform serves manufacturing, energy, batteries, transportation, utilities, marine, agriculture, and healthcare technology customers globally.

Product overview

Prizm offers an end-to-end IoT platform architecture consisting of hardware products (PRIZM Core Neo Board and PRIZM Gateway Enclosure) and the PRIZM Cloud Platform software. The Core Neo Board is a compact IoT controller for direct device connectivity, while the Gateway Enclosure provides industrial-grade connectivity for legacy equipment. The Cloud Platform serves as the central hub with Dashboard Editor for visualization and Blueprint Editor for edge application development. The platform supports both greenfield IoT builds and legacy retrofits across manufacturing, energy, transportation, utilities, and marine applications. Pricing tiers range from a free Basic plan through to custom Enterprise deployments.

Differentiator

Problem solved

Functional benefit

Products and services

• PRIZM Core Neo Board A compact 40mm x 40mm IoT controller board with an ESP32-S3 processor, LTE Cat. 1 bis cellular connectivity, 2.4GHz Wi-Fi, onboard accelerometer, real-time clock, Qwiic-compatible I2C connector, and USB-C power input for rapid IoT device development and deployment.
• PRIZM Gateway Enclosure An industrial IoT gateway with cellular, Wi-Fi, LoRa, and GNSS connectivity supporting interfaces including Ethernet, RS-485, CAN, I2C, SPI, USART, and GPIO, enabling plug-and-play data transmission and maximum sensor/device compatibility for legacy equipment.
• PRIZM Cloud Platform A cloud-based management platform offering real-time data visualization dashboards, GPS and historical views, device and fleet management, no-code edge application building, instant alerts, AI analytics, and secure OTA updates for IoT operations, available via tiered subscriptions from a free Basic tier through custom Enterprise contracts.

Quantifiable outcome

• 99% cost reduction per asset (from tens of thousands to a few hundred dollars)
• +3 more outcomes

Named customers4 records

Segments8 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature9 records

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Particle: Particle offers an integrated IoT platform combining cellular-connected hardware (similar to Prizm's Core Neo Board) with a cloud device management and data pipeline platform. Directly comparable end-to-end IoT stack targeting industrial and enterprise customers.
• Ubidots: Ubidots is an IoT platform focused on industrial and maker use cases, offering device connectivity, dashboards, and alerts with a usage-based pricing model similar to Prizm. Comparable in target customer (industrial SMBs) and platform capabilities.
• Balena (balenaCloud): Balena offers an IoT platform with fleet device management, OTA updates, and edge containerization. Comparable to Prizm in its focus on managing distributed device fleets with integrated hardware-software workflows.
• Blues Wireless: Blues Wireless provides cellular IoT modules and a cloud data platform with low-code tooling for industrial connectivity. Comparable to Prizm's cellular-enabled Core Neo Board and no-code configuration philosophy.
• Losant: Losant provides an enterprise IoT platform with edge compute, dashboards, and workflow automation — directly mirroring Prizm's Blueprint Editor and Dashboard Editor concepts and serving overlapping industrial/enterprise customers.

Emerging players

• ThingsBoard: ThingsBoard is an open-source IoT platform with device management, dashboards, and rule engine capabilities — overlapping with Prizm's Blueprint Editor and Dashboard Editor functionality, especially for cost-conscious industrial users.

Broad incumbents

• Siemens MindSphere: Siemens MindSphere is an industrial IoT platform from a major industrial incumbent targeting manufacturing and asset monitoring. Comparable in predictive maintenance and industrial protocol connectivity, but with broader enterprise reach.
• Samsara: Samsara is a large, publicly-traded industrial IoT platform with hardware sensors and cloud software for fleet and industrial operations. While much larger and more fleet-focused, it competes for the same industrial IoT budget and adjacent transportation/manufacturing use cases.
• AWS IoT Core: AWS IoT Core is a hyperscaler IoT platform providing device connectivity, messaging, and analytics. While not no-code focused for industrial OT, it represents the alternative buyers may choose given bundling advantages with broader AWS spend.
• PTC ThingWorx: PTC ThingWorx is an established industrial IoT platform with deep manufacturing focus, offering device connectivity, analytics, and AR. It competes for the same predictive maintenance and connected factory use cases as Prizm but at a much larger enterprise scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Prizm