I am proud to announce that Augury has raised $55 million in a Series D funding round led by Qumra Partners, a leading growth capital firm. Including this round Augury has raised $106 million, entirely dedicated to the mission of ensuring the machines that matter are reliable and available wherever and whenever you need them to be.
The funding comes as our whole industry moves forward from the early chaos and challenges of COVID into a new reality– a reality where the world’s near-total dependence on supply chains, and the machines that drive them, has never been clearer. A reality where agility and resiliency in manufacturing operations have taken the front seat. A reality that is accelerating the adoption of digital tools that drive the insights into machine health to fuel remote collaboration, increase workers productivity, and inform better risk management. The past few months have not been simple, and have required us to collaborate to overcome the challenges that surfaced, creating new processes and flows and, in short, building entirely new ways of working – together.
This milestone is as much yours as it is ours, because you have been our equal partners in this journey. You have driven us to do our best, and collaborated with us to transform the way machines are maintained, managed and leveraged. Most of all you have trusted us with the machines that matter most to you– and therefore to the world we live in– as you deliver the foods, medicines and products that we all depend on every day.
While the funding is significant in terms of what it means for Augury, I’m more excited by what it means for our ongoing partnership. We are already putting this investment to work, expanding our global delivery network, language support and certifications to bring machine health to you, no matter where in the world your facilities are located. We are building our engineering and services teams to deliver the features and capabilities you have told us you need. And that is just the beginning; last week we spent a day with nearly thirty of you in our first Machine Health Symposium, working side by side to craft what the next stages of this journey will look like, redefining what’s possible from our shared efforts.
We are excited to have Qumra join our investor group and also our board of directors, and we are also gratified that our primary investors, including Insight Venture Partners, Eclipse Ventures, Munich Re and others, also participated in this funding round. Their continued support is evidence of their belief in the importance of our mission and the opportunities to continue to expand our reach and our impact in the years ahead.
When Gal and I started Augury nearly a decade ago we believed there was an opportunity to create real change in the way our industry thinks about reliability and maintenance. We are proud of the progress we have made in pursuing that idea, but even more excited about the opportunities that lie ahead for us, for you and for what we can accomplish together.