HUVRdata, Inc., an Austin, Texas-based cloud-based industrial asset management solution, raised $5m in Series A financing.
The round was led by Cottonwood Venture Partners with participation from Wild Basin Investments who made the initial seed investment in HUVR in 2015.
The company intends to use the funds to accelerate product development and continue to deliver innovative solutions and services to its customer base in the alternative energy, oil and gas, maritime, and other industrial sectors.
Huvr provides a software platform that streamlines and standardizes inspection workflows for both industrial asset owners and service providers with the goal to drive operational efficiency. The company’s open platform approach allows industrial asset owners a new way to aggregate and analyze all aspects of complex asset inspection data, including a variety of inspection tools, third party service data, digital checklists, and native databases. The platform results in a single, standardized data repository that enables insights and analytics, such as the ability to visualize trends across the fleet, site, and individual assets.