Total amount raised
$103.8 Millions
Latest funding date
Location
MaintainX has successfully raised $50 million in its latest Series C funding round, achieving a valuation of $1 billion. The platform offers a comprehensive suite of tools for maintenance and operations management, including AI-driven solutions and automated preventive maintenance.
Keep reading to explore the intricacies of MaintainX's fundraising journey and the investors backing this innovative platform.
What Is MaintainX?
Founded in 2018, MaintainX is headquartered in San Francisco, California. The company specializes in providing a platform for digitizing work orders and procedures, aimed at industrial and frontline teams.
MaintainX was established by Chris Turlica, Hugo Dozois-Caouette, Mathieu Marengère-Gosselin, and Nick Haase. Their platform helps streamline maintenance operations, improve asset management, and manage regulatory compliance and audits.
With a workforce of 501-1000 employees, MaintainX continues to innovate in the field of maintenance and operations management, offering features like predictive maintenance, digital checklists, and comprehensive reporting tools.
How Much Funding Has MaintainX Raised?
- Seed Round
- Amount Raised: $3.8M
- Date: March 2019
- Lead Investors: Amity Ventures, August Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and bring the product to market.
- Series A
- Amount Raised: $11M
- Date: May 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the customer base.
- Series B
- Amount Raised: $39M
- Date: June 2021
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and development, enhancing the platform's capabilities.
- Series C
- Amount Raised: $50M
- Date: December 2023
- Lead Investors: Bain Capital Ventures
- Valuation at Round: $1 billion
- Motivation Behind the Round: To expand R&D, enhance AI capabilities, and grow the customer base.
Total Amount Raised: $103.8M. Current Valuation: $1 billion.
Key Investors
- Bain Capital Ventures
- Details: Bain Capital Ventures is a venture capital firm that invests in early to growth-stage companies. They have a portfolio of more than 400 companies, including many industrial and manufacturing businesses.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: LinkedIn, DocuSign, SurveyMonkey
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm with a long history of investing in early-stage companies. They focus on sectors such as enterprise, consumer, healthcare, and frontier technology.
- Investment Focus Areas: Enterprise, consumer, healthcare, frontier technology
- Notable Investments: Pinterest, Shopify, LinkedIn
- Amity Ventures
- Details: Amity Ventures is a venture capital firm that invests in early-stage technology companies. They focus on sectors like enterprise software, consumer internet, and financial technology.
- Investment Focus Areas: Enterprise software, consumer internet, financial technology
- Notable Investments: Carta, Robinhood
- August Capital
- Details: August Capital is a venture capital firm that invests in early to late-stage technology companies. They focus on sectors such as enterprise software, IT infrastructure, and consumer technology.
- Investment Focus Areas: Enterprise software, IT infrastructure, consumer technology
- Notable Investments: Microsoft, Sun Microsystems, Splunk
- Ridge Ventures
- Details: Ridge Ventures, formerly known as IDG Ventures USA, is a venture capital firm that invests in early-stage companies. They focus on sectors such as enterprise software, consumer internet, and digital media.
- Investment Focus Areas: Enterprise software, consumer internet, digital media
- Notable Investments: Fastly, Discord, Krux
What's Next for MaintainX?
MaintainX stands at the cusp of significant growth opportunities. With the recent $50 million Series C funding, the company is poised to expand its digital workflow solutions to a broader range of industries. The industrial maintenance sector, valued at over $49 billion globally, offers a vast market for MaintainX's AI-driven capabilities and data-driven functionalities.
Future fundraising rounds, potentially including Series D, could further fuel this expansion. However, the company will need to navigate challenges such as competition from other digital workflow platforms and the need to continuously innovate. Ensuring data security and regulatory compliance will also be critical as MaintainX scales its operations globally.
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