Syncron offers a SaaS platform that reads IoT sensor data and uses AI to make that data actionable for equipment manufacturers, predicting when parts will fail and recommending replacements, inventory restocking, and pricing. The product targets manufacturers moving from reactive repair models to servitization (product-as-a-service) and is used across heavy industries including industrial, agricultural, mining, construction, automotive, aerospace, energy and utilities. Syncron’s technology grew out of the company’s original consultancy offering and focuses on maximizing product uptime by enabling preemptive repairs. CEO Anders Gruden emphasizes the market gap between customers’ demand for constant uptime and manufacturers’ historical focus on repair execution. The company boasts customers such as ABB, Atlas Copco, BAE, Brother, CLAAS, Electrolux, Hitachi, JCB, Manitowoc, Mazda, Motor Coach Industries, Perkins, Renault, Siemens, and Terex. Syncron is over 15 years old and has just completed its first external funding, signaling a step toward scaling its service-oriented SaaS business.

Total raised

$67M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2018