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Investing.com -- MaintainX, a maintenance and asset management platform, has raised $150 million in Series D funding, bringing its total funding to $254 million and valuation to $2.5 billion.
The funding round included investments from Bessemer Venture Partners, Bain Capital Ventures, D.E. Shaw Ventures, Amity Ventures, August Capital, Founders Circle Capital, Sozo Ventures, and Fifth Down Capital. Angel investors Rahul Mehta, co-founder of DST Global, and Dave McJannet, CEO of Hashicorp, also participated.
MaintainX plans to use the new capital to enhance its AI and machine health monitoring capabilities, develop predictive maintenance solutions, and expand enterprise asset management features.
"Equipment failures cost companies $1.4 trillion annually, and many still rely on outdated tools. We built MaintainX to change that," said Chris Turlica, CEO and Co-Founder of MaintainX. "In today’s unpredictable global environment where supply chain disruptions and external cost pressures are hard to control, our mission is more important than ever."
The company’s platform focuses on enhancing human capabilities rather than replacing them, providing AI-driven insights to both technicians on the shop floor and executives in the boardroom. This approach aims to transform maintenance from reactive to proactive operational excellence.
The funding comes as industrial organizations face pressure to maximize operational efficiency amid economic uncertainty, supply chain disruptions, and skilled labor shortages.
Byron Deeter, Partner at Bessemer, noted: "MaintainX has achieved remarkable product-market fit by addressing a critical challenge that affects virtually every physical asset-driven industry. Their AI-powered insights are what truly differentiates MaintainX in the market – this intelligent layer transforms raw operational data into predictive recommendations that drive unprecedented value creation."
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