Augury, a NYC-based AI-based machine health solution provider, closed its $25M Series C funding.
The round was led by Insight Venture Partners, with participation from existing investors Eclipse Ventures, Munich Re/HSB Ventures, Pritzker Group Venture Capital, and Lerer Hippeau. In conjunction with the funding, Peter Sobiloff, Managing Director, Insight Venture Partners, will join Augury’s Board of Directors. Harley Miller, Principal at Insight, also co-led the deal and will be joining as an observer to Augury’s Board of Directors.
The company intends to use the funds to expand its global operation and enhance its industrial analytics capabilities. It also acquired Alluvium, a provider of a computing platform that gives real-time machine insights to support efficient industrial operations. Through Alluvium, Augury provides both mechanical and operational insights on a unified platform to provide a holistic view of an operation. The acquisition enhances Augury’s analytics capabilities and incorporates Alluvium’s team to the company to further drive innovation.
Led by Saar Yoskovitz, Co-Founder and CEO, Augury combines artificial intelligence and the Internet of Things to provide full visibility and control of the health and performance of their machines. The company holds OEM relationships with Grundfos and PSG Dover, as well as dozens of customers from Commercial & Industrial and manufacturing in the Fortune 500 spanning the CPG, Food & Beverage, and Pharma Manufacturing industries.
To date, Augury has received more than $51M in funding with contributions from Eclipse Ventures, Munich Re/HSB Ventures, Pritzker Group Venture Capital, Sound Ventures, First Round Capital and Lerer Hippeau.
FinSMEs
31/01/2019