MaintainX, a leading maintenance and asset management platform, announced $150 million in Series D funding. Key investors in this funding round include Bessemer Venture Partners, Bain Capital Ventures (BCV), D. E. Shaw Ventures, Amity Ventures, August Capital, Founders Circle Capital, Sozo Ventures, and Fifth Down Capital, and angel investors Rahul Mehta, co-founder of DST Global, and Dave McJannet, CEO of Hashicorp, and others. This investment brings the total funding raised to $254 million while reaching a new valuation of $2.5 billion.
This funding comes at a time when industrial organizations are under pressure to boost efficiency due to economic uncertainty, supply chain disruptions, and labor shortages. Manufacturers and facility managers aim to optimize their existing assets, and MaintainX’s platform offers practical insights to help address these issues.
This platform also focuses on strengthening human skills rather than replacing them, providing AI-driven insights to technicians and executives alike. This collaboration between humans and AI transforms maintenance from a reactive approach to proactive operational excellence.
How the funding will be used: The new funding round will enable MaintainX to expand its AI and machine health monitoring capabilities and partnerships, advance predictive maintenance solutions, and further develop enterprise asset management (EAM) capabilities.
The company will also use the funding to:
— Advance the AI-based asset and work intelligence capabilities.
— Enhance its machine health monitoring capabilities and partner ecosystem to gather real-time operational data using a sensor-agnostic approach compatible with any industrial sensor or control system.
— Improve market expansion across key industries and geographic regions.
— Attract top talent to support its product roadmap while helping customers address the industrywide skilled labor shortage through more intuitive, AI-assisted workflows.
Momentum: Since being founded in 2018, MaintainX has achieved significant milestones and impact in the industry, including:
— Serving over 11K companies worldwide, managing 11M+ assets across manufacturing, facilities management, food and beverage, distribution centers, and more.
— Helping customers achieve key success metrics, including reducing unplanned downtime by 34%, increasing production capacity by 15%, and achieving up to 32% savings in monthly maintenance costs.
— Processing over 27 million work orders and 370K+ safety procedures annually.
KEY QUOTES:
“Equipment failures cost companies $1.4 trillion annually, and many still rely on outdated tools. We built MaintainX to change that. In today’s unpredictable global environment where supply chain disruptions and external cost pressures are hard to control, our mission is more important than ever. I’m proud to see our customers offset external pressures by reducing unplanned asset downtime, parts, and labor costs while turning their frontline professionals into the knowledge workers they deserve to be with AI.”
Chris Turlica, CEO and Co-Founder of MaintainX
“MaintainX has achieved remarkable product-market fit by addressing a critical challenge that affects virtually every physical asset-driven industry. What impressed us most was the overwhelmingly positive feedback from customers who have transformed their maintenance operations using the platform. Their AI-powered insights are what truly differentiates MaintainX in the market – this intelligent layer transforms raw operational data into predictive recommendations that drive unprecedented value creation. This investment reflects our confidence in Chris and MaintainX’s ability to lead the global digital transformation of maintenance and asset management.”
Byron Deeter, Partner at Bessemer
“Companies are increasingly turning to operational technology not just to improve performance, but to protect margins and preserve jobs. MaintainX is driving this shift, transforming maintenance from a manual, reactive process into a data-rich, AI-powered advantage. Their platform doesn’t just streamline workflows; it introduces a new operating model where AI surfaces insights, predicts failures, and unlocks entirely new revenue streams and efficiencies. This is a step-change in how businesses manage assets and plan for the future.”
Merritt Hummer, Partner at BCV
“With MaintainX AI, it is even easier to digitize our preventive maintenance workflows, and our technicians can now use CoPilot to get accurate, real-time answers the moment they need them instead of having to dig through lengthy manuals and data – it’s like having an expert on hand 24/7 to guide our team through any task. MaintainX has quickly become a trusted resource for our maintenance operations and has a big impact on the training and onboarding of our technicians.”
Jeremiah Dotson, Facility Maintenance Manager, Amfab Steel
