Investment of $75 million confirmed for Augury, with a valuation exceeding $1 billion still standing.
In a significant development, Augury, a leading company specializing in Industrial AI solutions, has recently closed a $75 million Series F funding round. This brings the total capital raised by the company to an impressive $369 million. This funding boost is a testament to Augury's robust market potential and financial health, as indicated by a +51 point increase in their Mosaic Score over the past 30 days.
Augury continues to lead in AI-driven predictive and prescriptive machine health solutions, targeting sectors such as food & beverage, chemicals, and pharmaceuticals. Their platform uses artificial intelligence to predict and prevent machine failures and optimize production processes, significantly improving operational efficiency and reducing downtime and waste.
Since its last funding round in 2021, Augury has experienced rapid growth. The company has increased its revenue five-fold and tripled its Fortune 500 manufacturing customer base. This strong growth and deepening market penetration have positioned Augury alongside major companies like Oracle and Emerson, highlighting their strong industry standing.
To further expand its market reach and drive revenue growth, Augury is actively expanding its indirect sales channels by recruiting and enabling value-added resellers (VARs), distributors, and service providers. This strategic push through channel sales is designed to enhance their operational footprint across industries.
Augury's AI-driven industrial analytics also plays a role in reducing waste and emissions, making it a key player in energy-intensive operations and contributing to sustainability goals. By 2040, Augury's solutions are estimated to cut emissions by approximately 12%, resulting in 3 million metric tonnes of CO2 reduced annually across the world.
Elan Greenberg, the new chief operating officer of Augury, brings a wealth of experience to the company. Prior to joining Augury, Greenberg worked in the M&A group at Morgan Stanley and served in the United States Marine Corps. He has a track record of scaling businesses such as Flock Safety and DoorDash.
Saar Yoskovitz, Augury's co-founder and CEO, is excited about the opportunity to partner with leading manufacturers to usher in a new generation of AI and push the boundaries of human productivity. He stated that the new funding will be used to continue introducing new AI capabilities.
Augury's AI solutions are known for their high accuracy and reliability, making them a trusted partner in the manufacturing process. To date, the company's platform has analysed over 500 million hours of machine data and has generated an estimated $1 billion of value for customers.
With the latest funding, Augury maintains its position as the only 'unicorn' startup in the Production Health category. The funding round was led by Lightrock, with participation from Insight Partners, Eclipse, Qumra Capital, Schneider Electric Ventures, and Qualcomm Ventures.
In summary, Augury's recent innovation in AI-driven machine health solutions, substantial new funding, and strategic channel development are fueling rapid growth, expanding partnerships, and enhancing its operational capabilities across multiple industrial sectors. This momentum underscores Augury’s influence as a transformative player in the industrial IoT and manufacturing analytics space.
- Augury's success in the financial sector, as demonstrated by the recent $75 million Series F funding round, indicates a strong standing within the technology industry, given the company's AI-driven solutions for predictive and prescriptive machine health.
- As Augury continues to expand its market reach, it utilizes AI-driven industrial analytics to drive revenue growth in various sectors, including food & beverage, chemicals, and pharmaceuticals, while also contributing to sustainability goals by reducing waste and emissions.
