Latest news with #equipmentmaintenance
Reuters
09-07-2025
- Business
- Reuters
Equipment maintenance startup MaintainX valued at $2.5 billion in latest fundraise
July 9 (Reuters) - MaintainX more than doubled its valuation to $2.5 billion in its latest fundraising round, the equipment maintenance startup said on Wednesday, as startups that combine artificial intelligence with physical operations continue to attract investor interest. The company raised $150 million in the 'Series D' round, bringing its total external funding to $254 million, following a trend among mature startups to remain private-for-longer amid choppy IPO market conditions. Its previous funding round in December 2023 had valued the company at $1 billion. While AI startups still attract most venture capital funding, investors are now also looking for sector-specific tools that help companies boost efficiency by cutting downtime and labor costs. Last month, enterprise AI search startup Glean also raised $150 million at a $7.2 billion valuation in its third capital raise in less than two years. "The common thread is that investors want AI tied to mission-critical enterprise and industrial workflows," said Michael Ashley Schulman, partner at Running Point Capital Advisors. MaintainX, founded in 2018, provides a cloud-based maintenance and operations platform that helps automate day-to-day tasks like inspections and safety procedures. The company claims its customers have reduced unplanned downtime by 34% and saved 32% in monthly maintenance costs. The new capital will be used to develop MaintainX's AI and machine health monitoring capabilities, aiming to replace a widely used manual approach. The San Francisco, California-based company serves over 11,000 companies worldwide, including McDonald's (MCD.N), opens new tab, Anheuser-Busch InBev ( opens new tab and Dutch Bros Coffee (BROS.N), opens new tab . The round saw participation from existing investors Bessemer Venture Partners and Bain Capital, who have also led previous funding for the company. Early backers Amity Ventures and August Capital also participated.
CNA
09-07-2025
- Business
- CNA
Equipment maintenance startup MaintainX valued at $2.5 billion in latest fundraise
MaintainX more than doubled its valuation to $2.5 billion in its latest fundraising round, the equipment maintenance startup said on Wednesday, as startups that combine artificial intelligence with physical operations continue to attract investor interest. The company raised $150 million in the 'Series D' round, bringing its total external funding to $254 million, following a trend among mature startups to remain private-for-longer amid choppy IPO market conditions. Its previous funding round in December 2023 had valued the company at $1 billion. While AI startups still attract most venture capital funding, investors are now also looking for sector-specific tools that help companies run their businesses more efficiently by cutting downtime and labor costs. MaintainX, founded in 2018, provides a cloud-based maintenance and operations platform that helps automate day-to-day tasks like inspections and safety procedures. The new capital will be used to develop MaintainX's AI and machine health monitoring capabilities, aiming to replace a widely used manual approach. MaintainX's clients include McDonald's, Anheuser-Busch InBev, and Dutch Bros Coffee. The round saw participation from existing investors Bessemer Venture Partners and Bain Capital, who have also led previous funding for the company. Early backers Amity Ventures and August Capital also participated.
Yahoo
09-07-2025
- Business
- Yahoo
Equipment maintenance startup MaintainX valued at $2.5 billion in latest fundraise
(Reuters) -MaintainX has raised $150 million in its latest fundraising round, valuing the equipment maintenance startup at $2.5 billion, the company said on Wednesday. The round brings the company's total external funding to $254 million, following a trend among mature startups to remain private-for-longer amid choppy IPO market conditions. The new capital will be used to develop MaintainX's artificial intelligence and machine health monitoring capabilities, aiming to replace a widely used manual approach to equipment hygiene. The funding round saw participation from Bessemer Venture Partners, Bain Capital and D. E. Shaw Ventures. Sign in to access your portfolio
