San Francisco-based MaintainX announced today it has raised $150 million in Series D funding, reaching a valuation of $2.5 billion. The round was led by Bessemer Venture Partners and Bain Capital Ventures (BCV), with participation from D. E. Shaw Ventures, Amity Ventures, August Capital, Founders Circle Capital, Sozo Ventures, and Fifth Down Capital, as well as notable angel investors Rahul Mehta of DST Global and Dave McJannet, CEO of HashiCorp.
The company, which provides a maintenance and asset management platform, plans to use this investment to strengthen its AI and machine health monitoring capabilities, expand partnerships, and build predictive maintenance tools. This brings MaintainX’s total funding to $254 million since its founding.
MaintainX tackles a costly challenge: equipment failures cost companies $1.4 trillion annually, much of which is due to outdated maintenance tools. Its platform combines AI with frontline expertise, aiming to make maintenance proactive instead of reactive.
“Equipment failures cost companies $1.4 trillion annually, and many still rely on outdated tools. We built MaintainX to change that,” said Chris Turlica, CEO and co-founder. “In today’s unpredictable global environment… our mission is more important than ever.” The company focuses on giving technicians and executives actionable insights to improve uptime, safety, and performance.
With the new funds, MaintainX plans to enhance its AI-powered asset and work intelligence tools, including real-time machine health monitoring. Its sensor-agnostic technology works with any industrial sensor or control system, making it easy for companies to capture operational data.
The company also aims to attract top talent to execute its product roadmap and expand into more regions and industries. These initiatives include helping customers tackle the ongoing skilled labor shortage by streamlining workflows and improving training with AI-powered tools.
MaintainX’s platform is designed to empower human teams rather than replace them. The company’s AI-driven insights support both frontline workers and executives to make smarter decisions on maintenance and operations.
For example, Jeremiah Dotson, Facility Maintenance Manager at Amfab Steel, shared: “With MaintainX AI, it is even easier to digitize our preventive maintenance workflows… it’s like having an expert on hand 24/7 to guide our team through any task.”
Founded in 2018, MaintainX has quickly become a leader in its category, serving over 11,000 companies worldwide and managing more than 11 million assets. The platform processes 27 million work orders and over 370,000 safety procedures annually.
Customers have reported significant results, including a 34% reduction in unplanned downtime, 15% boost in production capacity, and up to 32% monthly maintenance cost savings. MaintainX has also received accolades, ranking in the top 50 of the Deloitte Technology Fast 500, and being recognized by G2 and Verdantix as a leader in the industry.
This latest round brings together a robust lineup of investors with deep experience in supporting innovative technology companies. Lead investor Bessemer Venture Partners has a history of backing major names like LinkedIn, Shopify, and Pinterest, while BCV brings expertise across AI, industrials, and fintech sectors.
Byron Deeter of Bessemer noted, “MaintainX has achieved remarkable product-market fit… their AI-powered insights transform raw operational data into predictive recommendations that drive value creation.”
Merritt Hummer of BCV added, “MaintainX is transforming maintenance from a manual, reactive process into a data-rich, AI-powered advantage.”
