Jul 9, 06:12 PM

AI Platform MaintainX Raises $150 Million at $2.5 Billion Valuation

Equipment-maintenance software provider MaintainX has raised $150 million in a Series D round that more than doubles its valuation to $2.5 billion, according to statements from the San Francisco-based company. The financing lifts total capital raised to $254 million and drew participation from existing backers Bessemer Venture Partners and Bain Capital Ventures as well as Amity Ventures and D.E. Shaw Ventures. Founded in 2018, MaintainX offers a cloud platform that automates tasks such as inspections and safety procedures for more than 11,000 corporate customers, including McDonald’s and Anheuser-Busch InBev. The company says clients have reduced unplanned downtime by 34% and monthly maintenance costs by 32% through its artificial-intelligence-driven tools. Proceeds will be used to expand machine-health monitoring and other AI capabilities, the company said. Investor appetite for technology that streamlines industrial and fleet operations remained active on Wednesday. Los Gatos-based ServiceUp, which automates vehicle-repair workflows for fleet operators and insurers, disclosed a $55 million Series B led by PeakSpan Capital, bringing its total funding to $70 million and marking what the company called a “significant” valuation increase over its 2022 Series A.

#MaintainX #San Francisco #Bessemer Venture Partners #Bain Capital Ventures #Amity Ventures #Los Gatos #ServiceUp #PeakSpan Capital

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AI Platform MaintainX Raises $150 Million at $2.5 Billion Valuation

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