AssetWatch, a Columbus, OH-based condition monitoring and predictive maintenance company, has raised $38 million in Series B funding. The round was led by Wellington Management, with participation from G2 Venture Partners, Triangle Peak Partners, Standard Investments, Osage University Partners, and JobsOhio Growth Capital Fund.
The company plans to use the funds to enhance ongoing innovation and expand and scale up its business operations. Led by CEO Brian Graham, AssetWatch specializes in predictive maintenance solutions, offering an end-to-end remote condition monitoring service designed to eliminate unplanned downtime and optimize operations for global manufacturers. The solution includes a network of wireless sensors and communication hubs, software, and condition-monitoring engineers.
With this new funding, AssetWatch aims to advance its technology and broaden its market reach, providing manufacturers with more efficient tools to maintain and monitor their equipment proactively. This strategic investment underscores the growing importance of predictive maintenance in the manufacturing industry and positions AssetWatch as a leader in this space.
