Today, San Francisco maintenance and asset management platform MaintainX announced it has reached $150 million in Series D funding, sending the startup’s value to $2.5 billion.
According to the company, “Key investors in this round include Bessemer Venture Partners, Bain Capital Ventures (BCV), D. E. Shaw Ventures, Amity Ventures, August Capital, Founders Circle Capital, Sozo Ventures, and Fifth Down Capital, as well as angel investors Rahul Mehta, co-founder of DST Global, and Dave McJannet, CEO of Hashicorp, among others.”
The company will use the investment to:
- Advance its AI-powered asset and work intelligence capabilities.
- Expand its machine health monitoring capabilities and ecosystem of partners to capture real-time operational data through a sensor-agnostic approach that works with any industrial sensor or control system.
- Accelerate market expansion across key industries and geographic regions.
- Attract top talent to support its product roadmap while helping customers address the industrywide skilled labor shortage through more intuitive, AI-assisted workflows.
Chris Turlica, CEO and Co-Founder of MaintainX told investors; “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. I’m proud to see our customers offset external pressures by reducing unplanned asset downtime, parts, and labor costs while turning their frontline professionals into the knowledge workers they deserve to be with AI.”
The CEO asserted, “Equipment failures cost companies $1.4 trillion annually, and many still rely on outdated tools. We built MaintainX to change that.”
Byron Deeter, Partner at Bessemer stated, “What impressed us most was the overwhelmingly positive feedback from customers who have transformed their maintenance operations using the platform. 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. This investment reflects our confidence in Chris and MaintainX’s ability to lead the global digital transformation of maintenance and asset management.”
Since its founding in 2018, MaintainX has expanded to serve over 11K companies worldwide.
By CEO NA Editorial Staff
