MaintainX recently raised $150 million in Series D funding. Investors in this round included Bessemer Venture Partners, Bain Capital Ventures (BCV), D. E. Shaw Ventures, Amity Ventures, August Capital, Founders Circle Capital, Sozo Ventures and Fifth Down Capital, as well as angel investors Rahul Mehta, cofounder of DST Global, and Dave McJannet, CEO of Hashicorp, among others. The round of funding will allow MaintainX to expand its AI and machine health monitoring capabilities, advance predictive maintenance solutions and develop enterprise asset management (EAM) capabilities. These investments bring the total amount raised to $254 million while reaching a valuation of $2.5 billion.

“Equipment failures cost companies $1.4 trillion annually, and many still rely on outdated tools,” says Chris Turlica, CEO and cofounder of MaintainX. “We built MaintainX to change that. In today’s unpredictable global environment where supply chain disruptions and external cost pressures are hard to control, our mission is more important than ever. I’m proud to see our customers offset external pressures by reducing unplanned asset downtime, parts and labor costs, while turning their frontline professionals into the knowledge workers they deserve to be with AI.”

MaintainX’s approach centers on amplifying human capability rather than replacing it. The platform puts AI-driven insights in the hands of both the technician on the shop floor and the executive in the boardroom – both of whom are accountable for uptime, safety and performance. This human-AI collaboration approach transforms maintenance from a reactive to proactive operation.

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This financing comes at a moment when industrial organizations face pressure to maximize operational efficiency amid economic uncertainty, supply chain disruptions and a shortage of skilled labor. As manufacturers and facility operators seek to extract optimal value from existing assets, MaintainX’s platform delivers the actionable insights needed to meet these challenges.

“MaintainX has achieved remarkable product-market fit by addressing a critical challenge that affects virtually every physical asset-driven industry,” says Byron Deeter, partner at Bessemer. “What impressed us most was the overwhelmingly positive feedback from customers who have transformed their maintenance operations using the platform. Their AI-powered insights are what truly differentiates MaintainX in the market – this intelligent layer transforms raw operational data into predictive recommendations that drive unprecedented value creation. This investment reflects our confidence in Chris and MaintainX’s ability to lead the global digital transformation of maintenance and asset management.”

“Companies are increasingly turning to operational technology, not just to improve performance, but (also) to protect margins and preserve jobs,” said Merritt Hummer, partner at BCV. “MaintainX is driving this shift, transforming maintenance from a manual, reactive process into a data-rich, AI-powered advantage. Their platform doesn’t just streamline workflows; it introduces a new operating model where AI surfaces insights, predicts failures, and unlocks entirely new revenue streams and efficiencies. This is a step-change in how businesses manage assets and plan for the future.”

The company will use the investments to:

• Advance its AI-powered asset and work-intelligence capabilities
• Expand its machine health monitoring capabilities and ecosystem of partners to capture real-time operational data through a sensor-agnostic approach that works with any industrial sensor or control system
• Accelerate market expansion across industries and geographic regions
• Attract talent to support its product roadmap while helping customers address the industry-wide skilled labor shortage through intuitive, AI-assisted workflows

“With (the) MaintainX AI, it is even easier to digitize our preventive maintenance workflows, and our technicians can now use (the) CoPilot to get accurate, real-time answers the moment they need them instead of having to dig through lengthy manuals and data – it’s like having an expert on hand 24/7 to guide our team through any task,” says Jeremiah Dotson, facility maintenance manager at Amfab Steel, Inc. “MaintainX has quickly become a trusted resource for our maintenance operations and has a big impact on the training and onboarding of our technicians.”

Since its founding in 2018, MaintainX has achieved milestones and impact in the industry, including:

• Serving over 11,000 companies worldwide and managing over 11 million assets across manufacturing, facilities management, food and beverage, distribution centers and more
• Helping customers achieve metrics, including reducing unplanned downtime by 34%, increasing production capacity by 15% and achieving up to 32% savings in monthly maintenance costs
• Processing over 27 million work orders and 370,000 safety procedures annually
• Being recognized for innovation, including ranking in the top 50 of Deloitte’s Technology Fast 500, as the No. 1 enterprise asset management and CMMS provider in G2’s Summer 2025 Report, and as a leader in Verdantix’s 2025 Green Quadrant CMMS Report