Led · Series B · Jun 2021

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.

Led · Series B · Jul 2019

RealWear develops assisted-reality wearable devices and software that give frontline industrial workers hands-free, head-mounted access to real-time information and remote expertise. Its product lineup includes the RealWear Navigator 500, launched late last year as the first commercially available modular head-worn device. The company has shipped devices to thousands of enterprise customers across Energy, Manufacturing, Food & Beverage, Automotive, and Telecommunications, including Shell, Goodyear, Mars, Colgate-Palmolive, and BMW. Led by Chairman and CEO Andrew Chrostowski, RealWear intends to use new funding to grow a unified software and services platform across its human-centric wearable products. The company is based in Vancouver, Washington and maintains local offices in the United Kingdom, Singapore, Germany, Australia, the Netherlands, and Japan, and recently opened a customer experience center in Dubai. RealWear provides a knowledge-transfer platform combining rugged head-mounted hardware and hands-free workforce software to deliver in-situ information and in-field training for frontline workers. Its flagship HMT-1 is an Android-class, head-mounted wearable designed to free workers' hands while maintaining situational awareness in harsh environments. The company bundles hardware with software capabilities such as remote mentor, document navigation, industrial IoT visualization and digital workflows. RealWear reports more than 15,000 HMT systems shipped, 1,300+ enterprise customers globally, and 120+ workforce software applications. The company says it will use the new funding to continue market expansion and accelerate platform development. RealWear is based in Vancouver, Washington. RealWear sells a voice-controlled augmented reality device worn by industrial workers that supports remote video calling, document navigation, guided workflow, mobile forms and data visualization. The company offers two device versions priced at $2,000 and $5,000. It has shipped more than 10,000 units to 800 customers globally in the past 18 months, including deals with China’s State Grid, Colgate-Palmolive, Volkswagen, and Toyota. RealWear employs about 91 people and is using new funding to expand its global sales arm and invest in product development. Founded in 2016 and based in Vancouver, Wash., the company positions itself as enabling connected-worker programs by freeing workers’ hands with a fully voice-controlled Android wearable. RealWear makes the HMT-1, a rugged, hands‑free AR headset that uses a non‑transparent HUD reflected into the user’s field via a movable arm. The device is designed to act more like a hands‑free tablet than spatially aware AR headsets and prioritizes simplicity and worker safety by avoiding opaque optical overlays. RealWear targets industrial maintenance, repair and operations teams with voice-driven menus that work in noisy environments. The HMT-1 is sold online for $2,000 and the company says it has sold thousands of units. RealWear reported $2 million in revenue in 2017 and management projected $20 million in 2018. With the new funding the company intends to expand its sales and marketing teams to accelerate adoption among enterprise customers.