Augury announced that it has raised $75 million. The round was led by Lightrock and participated in by several of Augury’s existing investors, including Insight Partners, Eclipse, Qumra Capital, Schneider Electric Ventures, and Qualcomm Ventures.
Since its last funding round in 2021, Augury has seen revenues increase fivefold, triple its customer base among Fortune 500 manufacturers, and expand its product portfolio from asset performance and reliability to incorporate AI-driven solutions for process optimization.
Augury, a leader in Industrial AI solutions for Reliability and Process Optimization, announced a series of actions aimed at accelerating innovation across its portfolio of offerings while building on its deep relationships with the world’s largest manufacturers. And Augury aims to partner with those business leaders in even more strategic ways, delivering a new generation of AI solutions that offers the accuracy and reliability manufacturers need to make AI a trusted partner in every phase of the manufacturing process.
Along with securing new funding, Augury has added Elan Greenberg as Chief Operating Officer. And Greenberg has helped scale category-leading businesses, such as Flock Safety and DoorDash, solving complex operating problems with an emphasis on customer satisfaction. He started his career in the M&A group at Morgan Stanley and in the United States Marine Corps.
Augury drives rapid Industrial AI adoption and strong ROI for global leaders such as PepsiCo, DuPont, and Colgate-Palmolive. And since its last funding round Augury has tripled its number of $1 million-plus accounts and has achieved over 500 million hours of machine data analyzed by its platform and an estimated $1 billion of value generated for customers utilizing its machine and process health solutions in over 40 countries.
Augury’s solutions also drive significant sustainability gains, including reduction of up to 37% process waste and 2% energy efficiency gain per manufacturing plant. It has also been estimated that by 2040, Augury’s solutions will cut emissions by about 12%, resulting in 3 MMt of CO2 reduced annually across the world.
KEY QUOTES:
“Augury has a long history of firsts, from the introduction of prescriptive AI-driven solutions that eliminate downtime and the first truly global-scale Industrial IoT deployments in our category to the introduction of AI solutions that encompass both machine and process health. With this new funding we will continue that track record, breaking new ground in the introduction of Agentic-AI capabilities that build on our expertise and that our customers can trust across their most critical assets and processes.”
“We are proud of our position as a leader in Industrial AI. But we see our accomplishments to-date as simply the preparation for the opportunity we have ahead of us. We are excited to partner with the world’s leading manufacturers to usher in a new generation of AI and push the boundaries of human productivity.”
– Saar Yoskovitz, Augury co-founder and CEO
“Augury is at the forefront of digitalizing equipment maintenance with AI-driven solutions that enhance cost efficiency, sustainability performance, and energy savings. Their predictive maintenance technology, boasting 99.9% failure detection accuracy and a 5-20x ROI when deployed at scale, significantly reduces downtime and energy consumption for its blue-chip clients globally, offering a compelling value proposition. The entire Lightrock team is delighted to support Saar and his talented team as they take Augury forward as the category-defining leader in its industry.”
– Ashish (Ash) Puri, Partner at Lightrock
“I’m delighted to join the team at Augury, a category leader known globally for its commitment to service and innovation. Alongside our partners, we’ll continue to empower humans and machines to push the boundaries of what’s possible and make the things we love.”
– Elan Greenberg
