EmpowerMX, a Frisco, Texas-based provider of cloud-based software-as-a-service (SaaS) solutions used by major commercial airlines and MROs to manage, plan, execute, and optimize aircraft maintenance, repair, and overhaul, received a significant investment from growth equity firm Argentum.
The amount of the deal was not disclosed. In conjunction with the investment, Dan Raynor and Chris Leong of Argentum have joined EmpowerMX’s Board of Directors.
The company will use the proceeds from the investment to further broaden its cloud offerings and expand its customer base.
Led by Dinakara Nagalla, CEO, EmpowerMX provides the commercial aviation industry with a cloud-based mobile software platform which automates complex workflows of MRO tasks and activities. The company’s core software suite, FleetCycle, is being used by many of the world’s largest commercial airlines and MROs to reduce maintenance costs and lower aircraft maintenance turn-around times (TAT) by eliminating unproductive processes, supporting higher workforce utilization, automating traditionally paper-based and manual processes (including FAA-approved electronic task cards) and providing real-time visibility into task completion.
EmpowerMX also has offices in EMEA and APAC.