On Wednesday, MaintainX, a San Francisco-headquartered startup offering industrial maintenance software, disclosed securing $50 million in a Series C round. Bain Capital Ventures (BCV), a prominent investor in growth-stage companies, spearheaded this funding round.
This infusion of funds, making the company’s valuation at $1 billion and its induction into this year’s unicorn club, is set to fuel MaintainX’s expansion in research and development, bolster its artificial intelligence capacities, and further broaden its customer reach.
Established in 2018, the company provides a mobile platform enabling frontline workers to engage with their managers, monitor tasks, access manuals and checklists, and promptly report issues in real time.
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Additionally, the platform gathers and assesses data from diverse sources, including sensors, equipment usage, etc, to offer valuable insights and suggestions aimed at enhancing operational efficiency and minimizing downtime.
The software from MaintainX is currently embraced by over 6,500 customers spanning diverse industries like manufacturing, energy, hospitality, and food and beverage. Among its notable clientele are Duracell, Marriott, AB InBev, McDonald’s, and the U.S. Department of Agriculture.
