Augmentir – a provider of an AI-based connected worker solution – announced that it has completed a new financing round and is expanding its team to support the company’s accelerating growth. The company is known for its industry-leading connected worker technology, which harnesses the power of AI to digitize and optimize frontline work based on worker capability and task complexity.
This technology essentially adds precision to workforce development by helping manufacturers identify opportunities to improve training and optimize upskilling and reskilling programs. In February, Augmentir revealed that it expanded its AI platform to incorporate Generative AI and other foundational technologies underpinning ChatGPT. This represents another step forward in the company’s AI-first journey and unlocks even greater potential for manufacturers looking to improve support for their frontline workforce.
The new funding round – which was led by Gardner Lewis Asset Management – includes participation from Lerer Hippeau, Pritzker Group Venture Capital, and the company’s founding team. And the investment round will be used to expand Augmentir’s global sales and marketing efforts while accelerating product development and innovation.
Along with the funding round, Augmentir has also announced organizational growth, including 2 new additions to the company’s leadership team:
1.) Kiyomi Otani joins the team as Vice President of Operations bringing 2 two decades of experience in technology leadership.
2.) Carsten Hunfeld – who previously led Augmentir’s sales efforts in the DACH region – will become the company’s Director for EMEA as the company ramps up its efforts in that region.
Augmentir experienced an employee growth rate of over 50% in the last year to advance its mission of empowering frontline workers with next-generation software solutions. And Augmentir’s suite of AI-powered connected worker tools helps industrial companies deliver effective, individualized skills management, training, digital workflows, and collaboration for more dynamic industrial workforce. These capabilities – built on top of Augmentir’s patented smart AI foundation – close the loop between training and work execution to deliver the data and in-line insights necessary to continuously improve operational excellence day-over-day and year-over-year.
KEY QUOTE:
“We’re thrilled to be able to raise capital at a significant increase in Augmentir’s valuation, at a time when peers are struggling in the market. Our exponential growth is a result of our commanding AI-based competitive advantage, and has given us a leadership position in the Connected Worker space.”
– Russ Fadel, CEO of Augmentir
