Multi-Year Collaboration Builds on Augury’s Momentum in Adding New Customers, Increasing Financing and Rapid Growth
New York, NY –April 21, 2021– Augury, a leading AI-based Machine Health solution provider, today highlighted a global collaboration with Carrier to incorporate Augury’s Machine Health technologies into the Carrier BluEdge Digital services offering. Carrier’s Commercial Service business will leverage Augury’s AI-driven solutions for predictive maintenance to deliver new kinds of value, reduce maintenance costs and maximize uptime for BluEdge Digital customers.
This expanded collaboration adds powerful new digital capabilities to Carrier’s global services teams. It also builds on recent dramatic growth and innovation for Augury, which achieved the following milestones over the past 12 months:
- Secured $55 million in new financing, led by leading growth firm Qumra Capital and including existing investors such as Insight Ventures, Eclipse Ventures and Qualcomm Ventures;
- Launched the industry’s first Guaranteed Diagnostics offering that insures the outcome of Augury’s AI-driven diagnostics, in partnership with HSB, a Munich Re company;
- Doubled the Augury workforce and added strategic senior-level leadership, including new executives in sales, marketing, and services, all with experience in rapid scaling and global expansion for SaaS businesses;
- Added nearly 100 new innovations in the Augury platform, enabling remote work, more effective collaboration and more accurate diagnostics that enable leading manufacturers to build more resilient and productive operations.
Since the beginning of the year, Augury has been named a Top 25 AI Startup to Watch by Forbes, and ranked within the top 20 on both Built In’s 100 Best Places to Work In NYC 2021 list and Calcalists’ Most Promising Israeli Startups list.
“While the global pandemic required us to adjust our approach in 2020, it actually heightened the need for our customers to leverage digital technologies, which has enabled new kinds of work and new forms of resilience,” said Saar Yoskovitz, Augury founder and CEO. “With our increased financial backing, we’re aggressively expanding our investment in company growth and expect to double our employee base again in 2021, as we launch a host of new offerings, support our strategic partnerships and rapidly expand our global footprint.”
Augury has helped customers make dramatic improvements in reliability, sustainability and productivity, creating a global partner network for delivery and implementation of Augury Machine Health solutions. Recent customer and partner successes include:
- ICL prevented a million dollars in production downtime losses in less than 10 months of deployment;
- Colgate-Palmolive saved 2.8 million tubes of toothpaste by avoiding a single machine failure;
- Expanded the partnership with Grundfos, global water solutions leader, to bring intelligent, sustainable water solutions to the planet;
- Announced an innovative partnership with DSV Logistics, enabling DSV to offer ‘parts as a service’ to its logistics customers, autonomously delivering required spare parts on a ‘just-in-time’ basis, based on the predictive insights from the Augury platform.
Augury is building a world where people can always rely on the machines that matter. Augury supports its customers by enabling Digital Transformation through superior insights into the health and performance of the machines they use to make products, deliver services and improve lives.
PAN Communications for Augury