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MachineMetrics has raised $11.3 million in Series A financing. With the funds, the company will expand its data science and product development teams while accelerating global sales.
MachineMetrics system is designed so that customers can install it themselves without the need for customization. Once installed, manufacturers can collect, visualize and analyze data from any industrial machine. It senses when there is a problem, predicts some problems before they occur and recommends solutions that reduce outages.
The company’s latest solution enables the sharing of data with their remote maintenance teams and makers of their equipment and vice versa. This enables service teams to identify problems through remote diagnosis, reduce onsite service visits by 10-20 percent, and receive predictive maintenance alerts.
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