MaintainX, the leading maintenance and work execution software, designed specifically for industrial and frontline teams, recently announced a $150 million Series D funding round. Bessemer Venture Partners and Bain Capital Ventures (BCV) led this investment. The new capital brings MaintainX's total funding to $254 million, establishing a company valuation of $2.5 billion.
The funding will accelerate MaintainX's expansion of its AI asset management capabilities. Unplanned equipment downtime costs industries billions annually. MaintainX leverages IoT technology and artificial intelligence to connect asset and work intelligence data, transforming reactive maintenance into proactive operational excellence.
Advancing Industrial AI Solutions
MaintainX plans to advance its AI-powered asset and work intelligence. Furthermore, it will expand machine health monitoring capabilities and its ecosystem of partners. This investment also supports further development of enterprise asset management (EAM) solutions and attracting top talent. The company aims to enhance predictive maintenance solutions across various industries.
The platform helps customers reduce unplanned downtime by 34% and increase production capacity by 15%. MaintainX competes in the industrial software market with established players like IBM Maximo and specialized solutions such as UpKeep and Fiix.
MaintainX currently serves over 11,000 companies worldwide, managing more than 11 million assets. This funding round highlights growing interest in industrial tech funding for solutions addressing operational efficiency and skilled labor shortages.
