Confidential

Presented by Fortra
Imubit
Vice President of Sales
Location: Remote

Imubit is the world’s first deep reinforcement learning solution for hydrocarbon processors.

Imubit controls and optimizes refineries and chemical plants with AI to add millions of dollars to the plant’s bottom line while managing safe operating limits, energy efficiency, and sustainability objectives. Imubit’s Closed Loop Neural Network platform allows customers to leverage an advanced form of AI called Reinforcement Learning (RL). Through our patented approach to applying RL for industrial processes, industry leaders have fundamentally changed how they optimize their plants and improve profitability in real-time. Imubit’s solution is currently optimizing the manufacturing facilities of Fortune 500 companies. Imubit has combined industry experts from companies like Exxon and Shell with award-winning data scientists endorsed by Google. Imubit is backed by tier-1 venture capital firms such as Insight Partners.

 

  • Founded: 2016
  • Headquarters: Houston
  • R&D: Israel
  • Number of Employees: ~130

In the News

Imubit Announces $50 million in Total Funding to Expand its AI Process Optimization Platform

AI expert elaborates on the importance of AI innovation, democratization

The Problem

Due to suboptimal process optimization, refineries and chemical plants lose millions of dollars annually. Plants are immensely complex, with 1000s of interdependent variables operating in highly volatile economic markets. Traditional solutions cannot solve the plant optimization problem in its entirety. Over the last several decades of plant automation, domain experts have been forced to break down the true complex profitable problem into fragments that do not model the reality of the plant, nor can they be pieced back together. Each plant group sees a different view of the plant from the lens of their traditional approach. Thus, they struggle to consolidate their perspectives back to the single reality of the plant. If the problem is broken down, no amount of technology can overcome the barrier of consolidating the partial views of the different plant groups. As a result, plant experts spend large amounts of time and effort attempting to connect the pieces but fail to do so, resulting in millions of dollars of lost profit.

The Solution

Imubit’s closed-loop neural network solves the optimization problem of the plant in its entire complex nature. It’s a single holistic model that reflects the reality of the plant to directly control and optimize the plant, driving profitability continuously on the scale of minutes. With the use of advanced AI called Reinforcement Learning, the model takes in the latest economic priorities, the key operating limits, and the current state of the plant to drive the plant to the global optimal in real-time to maximize the profit margin.

Competitive Advantage

  • Deep understanding of AI and the domain leveraging the most advanced form of AI (RL) for direct plant control
    • Existing/Traditional Approaches – leveraging plant data matches the reality above using 1st principles. Reaches organization adoption through a single holistic model rather than multiple tools, stacked that doesn’t solve the true problem and is not understood by all plant groups.
    • AI Targeting Industrial Processes – much more established with credible proof points. Much more advanced AI that optimizes and controls in closed-loop (direct control).
    • Generic AI Solutions – Imubit’s solution is built around the problems faced in the process optimization of industrial plants. Directly controls the plant rather than offline recommendations.

Traditional Approaches with AI (“Bolt-on”) – Leveraging plant data matches reality above the use of 1st principles. Reaches organization adoption through a single holistic model rather than multiple tools, stacked that doesn’t solve

 

 

Why We're Hot
  • Deep understanding of AI and the domain leveraging the most advanced form of AI (RL) for direct plant control
    • Existing/Traditional Approaches – leveraging plant data matches reality above use of 1st principles. Reaches organization adoption through a single holistic model rather than multiple tools, stacked that doesn’t solve the true problem and is not understood by all plant groups.
    • AI Targeting Industrial Processes – much more established with credible proof points. Much more advanced AI that optimizes and controls in closed-loop (direct control).
    • Generic AI Solutions – Imubit’s solution is built around the problems faced in process optimization of industrial plants. Directly controls the plant rather than offline recommendations.
    • Adoption through a single holistic model rather than multiple tools, stacked that doesn’t solve
  • Products

    • Closed Loop Neural Network Platform – the AI models that directly control and optimize the plant with a suite of applications to develop, maintain, and monitor the models
  • Market Trends

    • Volatility in energy prices and oil supply – driving optimization as the competitive advantage for customers rather than just throughput and capacity
    • Transition to sustainability – objectives to decarbonize and transition to renewables make the plant optimization problem even more challenging
    • Antiquated industries are struggling to retain and attract young talent – using AI is seen as advancing the industry to modern times and attracting new generations. In addition, the traditional approaches require deep expertise in the solution: the retiring workforce leaves a knowledge void.
    • Digitalization – use of automation and data to drive costs down and maximize efficiency

Ideal
Candidate

  • Responsible for all new revenue generation, including new logo sales, cross-sales to existing clients, and working with channel partners.
  • Experience in an early-stage company that witnessed growth
  • A track record of implementing a proven sales framework
  • Focus on pipeline growth and execution
  • Proven ability to creatively develop and manage a geographically distributed sales team and successfully drive strategy, planning, reporting, and execution
  • Well-versed in technologies and can speak to the resulting impact on business processes
  • A track record of closing large enterprise deals in complex organizations with multiple buyers.
  • An inspirational leader with a proven ability to build high-performing teams and foster a collaborative culture
  • Entrepreneurial with a strong ability to work in a less-structured environment across several locations
  • Pragmatic and hard-working, hands-on approach
  • Hi EQ. Low ego

 

Executive Team

CEOGil Cohen

Chief ScientistProf. Nadav Cohen

VP of EngineeringGil Baruch

VP of Customer Success – Kelly Harred 

VP of Product – Ran Rosin

VP of IT & Cyber – Shlomi Zohar

Head of PeopleRobin McCaffrey

 

 

 

 

 

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