When we first partnered with MaintainX in the fall of 2023, we saw a company that was redefining how maintenance teams operate. By delivering a consumer-grade app to frontline teams, MaintainX replaced clipboards and pencils with an intuitive digital experience for work order management and collaboration. That engagement unlocked a new level of data capture for industrial organizations, giving them real-time visibility into operations for the first time.

Less than two years later, we are proud to co-lead MaintainX’s $150 million Series D alongside our friends at Bessemer Venture Partners. This is our second consecutive lead investment in the company and underscores our conviction that MaintainX is shaping the future of frontline operations.

Since our Series C investment, MaintainX has scaled to serve over 11,000 companies, managing more than 11 million assets and processing over 27 million work orders annually. That level of adoption reflects not only exceptional execution, but a rare alignment between product vision and market demand. As global supply chains shift, the West reindustrializes, and skilled labor becomes harder to find, industrial operators face mounting pressure to modernize and do more with less. MaintainX meets that moment—arming teams with the tools and real-time insights they need to boost productivity and reduce asset downtime. Today, MaintainX is a foundational component of the modern manufacturing tech stack.

In just two years, MaintainX has evolved from a mobile-first operating system into a proactive, AI-powered platform that predicts asset behavior, detects anomalies, and streamlines frontline work. Predictive maintenance features help teams anticipate problems and act before issues arise, reducing unplanned downtime for its customers by an average of 34% during the first 12 months of use. Its AI-powered frontline app doesn't replace technicians, but rather empowers them. The platform captures institutional knowledge and provides real-time, context-specific guidance to make every technician more capable from day one.

Along the way, Chris Turlica and the MaintainX team have consistently exceeded targets, breaking through in enterprise accounts while maintaining a product that delights users on the ground. That’s why companies like Hunter Douglas, Cintas, and Duracell rely on MaintainX, and why MaintainX is now the #1 rated enterprise asset management platform in G2's Spring 2025 Report rankings.

What excites us most is what comes next. MaintainX is reimagining industrial workflows for the AI era and is fast becoming the system of record for physical operations. We are proud to be on this journey with the MaintainX team.