Ilesfay in the Cincinnati Business Courier
Ilesfay Technology Group LLC is built on an elegant philosophy of data transfer: “Only move what’s changed.”
The strategy has proven successful so far. The Blue Ash-based startup has received a $350,000 investment from CincyTech and secured several contracts, including one with Procter & Gamble Co.
Ilesfay targets its services to the data-intensive world of “product lifecycle management” – documenting the design, manufacture and other aspects of a product from an engineering perspective – within Fortune 100 companies. The startup now has four customers.
Seeking patent to protect technique
A company that, for example, designs machines to make consumer products could have engineers and product managers collaborating from several countries, said Chris McLennan, CEO of the company. Each time they change the design specifications, the work groups have to exchange terabytes (that’s 1 trillion bytes) of data. Engineering data quickly builds up because a change to one component can ripple throughout an entire system.
“If one hole on the machine is moved, our software ferrets that out and conveys just that move,” McLennan said.
The three-person firm is seeking another $150,000 to close the round. McLennan plans to use the capital to add seven to 10 staff members over the next two years.
Ilesfay’s technology means corporations can transfer the necessary data over standard business Internet lines, which offers huge savings. McLennan said one traditional solution is to lease space on fiber-optic lines from telecommunications firms – at a cost of as much as $120,000 a month.
Ilesfay has applied for patent protection for its technique, called “pre-emptive binary differencing.”
McLennan, James Taylor and Joe Kramer, who started Ilesfay in 2009, began developing the software while working at Cincinnati-based engineering firm Alexander & Associates. They got the OK from their employer before running with the project, McLennan said.
At Alexander & Associates, where McLennan served as information technology director, they made contacts within Procter & Gamble and other companies.
Ilesfay piloted its software with P&G before landing the corporation as a client.
McLennan “knew the product lifecycle management software market cold and had validated the product with a big customer,” said Mike Venerable, executive-in-residence with CincyTech, a public-private venture development organization in Cincinnati. “That made it a relatively low-risk investment from the get-go.”
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Cincinnati | September 2, 2011 | James Ritchie