AssetWatch, a leading condition monitoring and predictive maintenance organization, announced closing its Series B financing round of $38 million led by Wellington Management. And the company’s Series A investors, including G2 Venture Partners, Triangle Peak Partners, Standard Investments, Osage University Partners, and JobsOhio Growth Capital Fund, are investing in the Series B funding round.
This funding round will accelerate AssetWatch’s ongoing innovation, enabling the company to continually offer new value to its customers. And it will support the expansion and scale-up of the business, ensuring the sustained provision of outstanding customer service and comprehensive, hassle-free subscription services.
Since its founding, AssetWatch has been a pioneering force in predictive and prescriptive asset condition monitoring, dedicated to eliminating unplanned downtime and optimizing operations for manufacturers. Its AI-powered solution transforms maintenance processes, shifting from reactive to proactive strategies. AssetWatch offers an end-to-end solution that not only predicts but also prevents unplanned downtime, thereby optimizing operational efficiency and significantly reducing costs for its clients.
KEY QUOTES:
“The Series B investment is a testament to the significant potential of predictive maintenance and our vision at AssetWatch.”
“With the support of our incredible investors, we’re poised to further accelerate our mission to transform the maintenance and reliability landscape across industries worldwide.”
- Brian Graham, CEO of AssetWatch
“We are impressed by AssetWatch’s unique technology, strong team, and proven impact on manufacturing productivity. They are uniquely positioned to lead the predictive maintenance revolution, and we’re looking forward to the company’s next phase of growth.”
- Sean Petersen, sector lead for private climate investing, Wellington Management
