“We are proud of our position as a leader in Industrial AI,” writes Augury CEO Saar Yoskovitz. “Now, with fresh funding, we can accelerate our journey of industry firsts to make AI a trusted partner in every phase of the manufacturing process. But we’re not doing it alone…”
$75 Million Milestone
We’ve reached another pivotal milestone. I’m thrilled to announce that Augury raised $75 million in a round led by Lightrock with participation from several of our existing investors: Insight Partners, Eclipse, Qumra Capital, as well as SE Ventures, Qualcomm Ventures and La Maison Partners.
This new round, bringing our total investment to date to over $360M, increases our valuation as we maintain our position as the only ‘unicorn’ startup in the production health category. This achievement is particularly meaningful in today’s challenging market environment and validates the transformative impact of our work.
But we could never have done it alone. To truly transform how people and machines work together, and push the boundaries of human productivity, we need not only investors who believe in our vision but also engaged customers and partners committed to taking this journey with us.
Accelerating Our Mission
In 2021, we announced our last funding round: raising $180 million, adding new strategic investors and reaching a $1B+ valuation – becoming Industrial AI’s first unicorn. That milestone confirmed Machine Health as Industry 4.0’s killer app and inspired us to dream even bigger: embracing Process Health to deliver comprehensive production health solutions.
Since then, we have achieved remarkable growth:
- A fivefold increase in revenue
- Tripled our customer base among Fortune 500 manufacturers
- Reached over half a billion hours of machine data analyzed
- Generated an estimated $1 billion of value for our customers across 40+ countries
With this new investment, we can further drive this growth – and the innovation and partnerships fueling it.
“This funding comes at a perfect time as companies increasingly embrace reliable AI and advanced technologies as a way to become more agile in uncertain times.”
Why This Funding Matters Now
When we launched Augury, we envisioned an industrial world where people and machines collaborate to achieve unprecedented productivity, sustainability, and reliability. What began as machine learning is now recognized as cutting-edge industrial AI – and we’re leading this transformation.
While it’s difficult to fully predict the changes coming in the next few years, we know they will be fundamental and far-reaching. And that’s the very reason, this funding comes at a perfect time as companies increasingly embrace reliable AI and advanced technologies as a way to become more agile in uncertain times.
Our Technology Evolution
Our journey from Machine Health to comprehensive production health represents the natural evolution of our platform. We began by using sensors to interpret machine signals with advanced software. We progressed to detecting problems and pinpointing their exact location. Now, we can recommend precisely how to fix issues. Soon, AI agents will assist with repairs, provide step-by-step instructions, and even automate problem resolution.
This progression demonstrates our commitment to pushing boundaries and creating solutions our customers can trust across their most critical assets and processes.
“Together, with our customers and industry partners, we’re pioneering production health and transforming how people and machines work together.”
The Impact We’re Making Together
Meanwhile, as our investors’ continued confidence enables us to pursue our vision at scale, it’s our customers and partners whose trust empowers us to innovate boldly. We aim to only deepen our partnerships with the world’s leading manufacturers. Our collaborations with global leaders like PepsiCo, DuPont, Colgate-Palmolive,Nestlé, Baker Hughes, Schneider Electric, and others continue to drive significant results.
Beyond the financial returns of 5-20x ROI, we’re also proud of how we help our customers become more sustainable by reducing waste and amping efficiency. This is why I’m especially excited to partner with the Lightrock team, who share a strong focus on sustainability and impact – both core elements of our mission.
Together, with our customers and industry partners, we’re pioneering production health and transforming how people and machines work together. The industrial sector’s digital transformation – Industry 4.0 – is well underway, with Machine Health at its core. I couldn’t be more excited about the shared journey ahead.
You’re welcome to join us 🙂
Read the press release on Augury raising $75 million to accelerate its mission. Saar also wrote an announcement for LinkedIn about living in one of the – if not the – most exciting times in human history.
