FOR IMMEDIATE RELEASE
As Kitchener-based Praemo accelerates growth with industrial customers in advanced analytics and artificial intelligence, Paul Boris takes the role of President.
KITCHENER, ONTARIO | AUGUST 21, 2019 —
Praemo founder and CEO Michael Martinez announces the decision to move industry veteran Paul Boris to the role of President and CRO. This announcement comes as Praemo accelerates adoption in key markets.
Industrial deployment of deep analytics powered by tools like Artificial Intelligence (AI) and Machine Learning continues to expand aggressively. Praemo’s analytic engine, Razor™ simplifies deployment by utilizing data as-is, where-is with no need for costly harmonization. Razor™ dramatically reduces time to value, maximizes asset uptime, eliminates quality disruptions and optimizes throughput of critical processes.
Boris joined Praemo at its founding as an early advisor, then took the role of EVP and CRO in 2019. Praemo closed their Series A round late in 2020 with investment from McRock Capital, Caterpillar Ventures and the BDC Innovation Fund. “Moving Paul into the role of President was an obvious choice as the business continues to accelerate”, said Michael Martinez, founder and CEO of Praemo. “His deep industrial background and long, successful history of expanding technology-driven business has enabled us to get to the next level.”
“Industrial supply chains continue to struggle, and it’s critical they utilize the capital they’ve already deployed to drive their I4.0 initiatives, as well as every technical advantage to stabilize and improve performance,” said Boris. “Praemo has built a technology that is core to that mission, and I am excited to lead a team that is second to none as we continue to grow.”
Whitney Rockley, co-founder of McRock Capital and Praemo’s Board Chair said, “Throughout my career, it is rare to see an analytics company that has deep industry domain expertise combined with a laser focus on key vertical markets that they intimately understand. This is Praemo, and we are excited to see industry veteran, Boris, taking on the role of President.”
Praemo’s Razor™ has been successfully utilized in large enterprise and mid-market customers in the US, Canada, and EMEA across a number of key verticals like Mining, Consumer Products, Automotive, and in both process and discrete manufacturing. Earlier this year, Praemo added key markets with resources in the Austral-Asia region, and the selection by a leading provider of Digital Innovation in Mexico, Alestra as part of their innovation scale-up program.
About Paul Boris
President and CRO, Praemo
Boris started his career running industrial operations and held roles as a Global Vice President at SAP, CIO of Advanced Manufacturing Strategy at GE, and COO of industrial wearables company Vuzix. He has driven significant software revenue growth and customer expansion across the industrial sector, advised leadership teams at hundreds of companies globally on digital transformation, and led digital transformation at one of the world’s largest industrials. He will be tapping his vast manufacturing experience to define strategy, deliver on growth targets and team with customers and partners to implement solutions that will disrupt the prescriptive analytics space for industry. Boris is a member of the Board of Directors for Praemo and had served as an advisor to Praemo from its founding. He currently advises startups in the robotics and AI space, and has previously served on the board of the publicly–traded wearable company, Vuzix, as well as the National Association of Manufacturers.
Praemo is creating a future without disruptions for manufacturing and industrial operations. By leveraging the data and systems you already have, as-is, where-is, Razor™ exposes actionable insights that your teams can use to avoid downtime and quality issues while maximizing throughput. Founded and led by industry veterans, and Razor™ utilizes Artificial Intelligence/Machine Learning to provide a non-intrusive solution for our customers that delivers value faster than any competitive approach. If you’re not extracting all the value form the data and systems you already have, Razor™ can help.
Praemo is proud to have achieved Diversio’s Platinum Certification, its highest level of recognition identifying our team as “Best in Class.” To achieve this recognition, a “Platinum Certified organization not only demonstrates a diverse & inclusive culture, it actively supports Inclusive Businesses in its network or supply chain.
Michael Martinez, Founder & CEO
Paul Boris, President & CRO
Paul Hancock, Founder & CFO
Andy Henderson, CTO
Praemo Board of Directors:
Whitney Rockley Co-founder of McRock Capital, Praemo’s Board Chair
Michael Martinez Founder & CEO
Paul Boris President & CRO
Bob Fei President & CEO, Life Cycle Engineering
Andy Goodwin Former CEO, SMEC
Craig Lange Strategy & Growth Director, Caterpillar
Aditya Agarwal Principal, Venture Capital (Industrial Innovation Fund), BDC