MaintainX, the leading maintenance and operations software, has raised $50 million in a Series C funding round. The investment was led by Bain Capital Ventures (BCV), with participation from existing investors Bessemer Venture Partners, Amity Ventures, August Capital, and Ridge Ventures, along with some noteworthy strategic investors like Jeff Lawson (CEO of Twilio), among others. With this investment, the company’s valuation has reached $1 billion.
When it comes to maintenance and operations, most of the work is done in the field rather than desk-based work. Most businesses use traditional CMMS software to track and release work orders, which prints paper-based work orders and checklists, and no data is updated in real-time. But MaintainX is solving this problem by increasing the productivity of the workforce with its mobile-friendly modern software. With MaintainX, work orders can be created, assigned, and monitored easily. It automates and streamlines the technician’s workflow, which makes it an easy task to record the maintenance work. With this modern software, preventive maintenance, asset management, checklists, inspections, and reporting can all be done easily and efficiently.
Since its last Series B funding round, the company has shown 13x growth. It has more than 6,500 customers globally, which also includes many big companies. It has managed more than 2.6 million assets in total, and more than 15 million work orders have been completed. With this new investment, the company will put it to use for future growth and development. It will also invest in developing AI-based tools and data-driven functionality.
The company’s co-founder and CEO is Chris Turlica, and it is headquartered in San Francisco, California, United States.