MaintainX Raises $50 Million in Funding to Expand Industrial Maintenance Platform Follow Dec 06, 2023 · 1 min read
MaintainX Raises $50 Million in Funding to Expand Industrial Maintenance Platform
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San Francisco-based MaintainX, a provider of maintenance and frontline work execution software, has secured $50 million in a Series C funding round to further develop its offerings for industrial teams.

The funding round was led by Bain Capital Ventures (BCV), with participation from existing investors Bessemer Venture Partners, Amity Ventures, August Capital and Ridge Ventures. Other notable investors include former GE CEO Jeff Immelt, Twilio co-founder Jeff Lawson, Boston Celtics co-owner Steve Pagliuca, Coupa CEO Rob Bernshteyn, and OpenView Venture Partners executives Chris Comparato and Allison Pickens.

This brings MaintainX’s total funding to date to over $100 million since its founding in 2018. The company will use the new capital to accelerate product development, with a focus on adding more artificial intelligence capabilities and data-driven insights to its platform.

Led by co-founders CEO Chris Turlica, CTO Hugo Dozois-Caouette, VP Engineering Mathieu Marengère-Gosselin and COO Nick Haase, MaintainX provides mobile-first software designed for maintenance, reliability and operations teams in asset-intensive industries. Its platform aims to help companies execute maintenance procedures efficiently, manage assets optimally, and stay compliant with regulations.

MaintainX is currently used by over 6,500 businesses globally across industries like manufacturing, oil and gas, transportation and healthcare. Its customers include major companies such as Duracell, Brenntag, Cintas, Shell and Titan America.

In addition to the new funding, MaintainX is also rolling out advanced new product capabilities including:

  • AI-powered tools to digitize paper maintenance processes, boost worker productivity and help predict equipment failures before they occur.

  • Asset health dashboards that provide real-time visibility into asset performance and maintenance operations.

• Workforce planning and scheduling to optimize labor resources and ensure timely work execution across teams and facilities.

MaintainX ultimately aims to deliver data-driven insights that maximize asset reliability, lower costs and drive overall operational excellence for industrial businesses.

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