Total amount raised
$1 Billions
Latest funding date
10/01/2021
Location
Augury has successfully raised significant funding over multiple rounds, establishing itself as a key player in AI-driven machine health solutions. The platform offers predictive and prescriptive insights to enhance machine, process, and production health.
Keep reading to explore the intricacies of Augury's fundraising journey and the investors backing this innovative platform.
What Is Augury?
Augury, founded in 2011, is headquartered in New York. The company was established by Saar Yoskovitz and Gal Shaul.
Specializing in AI-driven solutions, Augury focuses on predictive and prescriptive machine health to enhance production processes.
With a team of over 200 employees, Augury continues to innovate in the field of machine health solutions.
How Much Funding Has Augury Raised?
- Series A Round
- Amount Raised: $7 million
- Date: September 1, 2015
- Lead Investors: Formation 8
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support Augury's technology that helps in early troubleshooting of machine problems by analyzing the sounds they emit.
- Series B Round
- Amount Raised: $17 million
- Date: June 19, 2017
- Lead Investors: Eclipse Ventures and Munich Re / HSB Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen OEM relationships, develop strategic partnerships, and further establish Augury as the leader in mechanical diagnostics.
- Series C Round
- Amount Raised: $25 million
- Date: January 31, 2019
- Lead Investors: Insight Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Global expansion, enhanced support for existing partners, and integration of Alluvium's technology for comprehensive insights.
Total Amount Raised: $49 million. Current Valuation: Not publicly disclosed.
Key Investors
- Insight Venture Partners
- Details: Insight Venture Partners is a leading global private equity and venture capital firm investing in high-growth technology and software companies. They led Augury's $25 million Series C funding round.
- Investment Focus Areas: Technology, software, internet
- Notable Investments: Twitter, Shopify, DocuSign
- Eclipse Ventures
- Details: Eclipse Ventures is a venture capital firm that invests in early-stage technology companies. They co-led Augury's $17 million Series B funding round.
- Investment Focus Areas: Digitizing the physical world, IIoT, hardware
- Notable Investments: Samsara, Cobalt Robotics, Clearpath Robotics
- Munich Re / HSB Ventures
- Details: Munich Re / HSB Ventures is the venture capital arm of Munich Re, focusing on investments in technology and innovation. They co-led Augury's $17 million Series B funding round.
- Investment Focus Areas: IIoT, insurance, reinsurance
- Notable Investments: Trov, Slice Labs, Relayr
- Pritzker Group Venture Capital
- Details: Pritzker Group Venture Capital is the venture capital arm of the Pritzker Group, investing in early and growth-stage companies. They participated in Augury's Series A and B funding rounds.
- Investment Focus Areas: Early-stage companies, growth-stage companies, various sectors
- Notable Investments: Dollar Shave Club, SpaceX, Twilio
- Lerer Hippeau
- Details: Lerer Hippeau is a New York-based venture capital firm investing in early-stage companies. They participated in Augury's Series A and B funding rounds.
- Investment Focus Areas: Early-stage companies, technology, media
- Notable Investments: BuzzFeed, Warby Parker, Casper
What's Next for Augury?
Augury stands at the cusp of significant growth opportunities, driven by the increasing adoption of predictive maintenance and AI technologies in industrial settings. The potential to expand globally and integrate their technology into consumer appliances like washing machines and electric ovens presents a vast market. With predictive factory maintenance projected to be a multi-billion dollar industry by 2025, Augury's prospects are promising.
Future fundraising efforts are likely as the company continues to scale and enhance its technological capabilities. The successful Series C round and strategic acquisition of Alluvium indicate strong investor confidence. However, challenges such as competition from established players and the need to maintain scalable AI models across diverse machinery remain. Navigating these hurdles will be crucial for Augury's sustained success.
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