MaintainX Funding Values Manufacturing Startup at $2.5 Billion

MaintainX Inc., a startup whose software helps monitor and maintain industrial manufacturing, raised $150 million at a valuation of $2.5 billion in a funding round co-led by existing investors Bain Capital Ventures and Bessemer Venture Partners.

The San Francisco-based company said it will use the new funds to accelerate research and development, to launch its business providing software to the US government, and to speed an expansion into South America and Europe.

MaintainX joins a procession of Silicon Valley startups applying emerging technologies like artificial intelligence toward defense and national security efforts. Companies such as Re:Build Manufacturing LLC and ...