MachineMetrics offers an IoT-powered Industrial Data Platform that collects and analyzes data from manufacturing equipment in minutes to deliver actionable, machine-level insights for factory workers. The platform enables remote visibility into real-time production, identifies bottlenecks, predicts machine failures, improves quality, and supports workflows that automate machine operation. Its plug-and-play data collection and analytics are used across a range of customers, from small job shops to large OEMs. MachineMetrics is currently used by hundreds of customers and connected to thousands of machines globally. The company cites a 2020 benchmarking report showing average machine utilization at 24%, underscoring the opportunity to improve productivity. MachineMetrics plans to scale its platform globally and democratize access to machine insights to drive factory automation and higher utilization. MachineMetrics provides Industrial IoT analytics that lets manufacturers collect, visualize and analyze data from any industrial machine. Its platform automatically senses when there is a problem, predicts some issues hours or minutes before they occur, and recommends solutions to reduce unplanned outages. The company’s latest solution enables factory workers to share MachineMetrics data with remote maintenance teams and equipment makers for remote diagnosis. That capability can reduce onsite service visits by 10–20% and delivers predictive maintenance alerts that could create new business opportunities. MachineMetrics serves customers including Fastenal, Snap-On Tools, National Oilwell Varco, Gardner Denver, Continental, Saint Gobain, Shiloh Automotive and SECO Tools. It plans to use new funding to expand its data science and product development teams and to accelerate global sales. MachineMetrics is a Northampton, Massachusetts-based startup that develops production monitoring software for the manufacturing industry. Its software aims to improve on-time delivery and provide visibility into production processes. The company was founded by William Bither, Eric Fogg, and Jacob Lauzier. Initial customers include VSS, Inc., a precision machine shop in Greenfield, Massachusetts with over 40 years in business. MachineMetrics secured capital in an early investment round, though the amount was not disclosed. The round was led by Long River Ventures with participation from local private investors.

Total raised

$31M

Funding rounds

3

Latest round

Series B

Latest activity

Jun 2021