Tractian, a pioneering force in the realm of industrial IoT and enterprise asset management software, has successfully raised a substantial $45 million in growth capital, underscoring the company’s unwavering commitment to revolutionizing the industrial landscape.
The VC funding round was led by General Catalyst and witnessed enthusiastic participation from existing investor Next47, as well as a select group of strategic angels, including industry luminaries Ronan de Hooge, VP of Cloud Platform at AVEVA, Ron Gill, former CFO of SAP and Netsuite, and Andy McCall, former CRO of Samsara.
Tractian’s remarkable ascent is underscored by its asset monitoring system, which has already established a robust presence in over 1,000 industrial plants. This latest infusion of capital positions the company to further amplify customer empowerment while spearheading cutting-edge technological innovations that cater to the diverse needs of maintenance operators.
Central to Tractian’s mission is its industrial operations platform, which is seamlessly integrated with state-of-the-art sensors. These sensors play a pivotal role in monitoring the health and performance of critical machinery, thereby averting unplanned downtime and granting maintenance technicians and industrial decision-makers an unparalleled vantage point over their operations.
This innovative approach resonates across a broad spectrum of industries, ranging from food and beverage to automotive, consumer goods, mining, oil and gas, and commodities manufacturing. With its versatile applicability, Tractian is positioned to play an instrumental role in transforming industrial paradigms.
Among Tractian’s distinguished clientele are industry giants like John Deere, Procter & Gamble, Caterpillar, Goodyear, Carrier, Johnson Controls, Bimbo, Little Bites, and Thomas Bagels, to name a few. These esteemed partners have borne witness to the tangible benefits of Tractian’s solutions, experiencing a remarkable 6-12x return on investment, with average annual savings of $6,000 per monitored machine.
The infusion of $45 million in growth capital serves as a testament to Tractian’s transformative potential and underscores its pivotal role in shaping the future of industrial operations. As the company continues to drive innovation, industry stakeholders eagerly anticipate the next wave of advancements that Tractian will bring to the forefront of industrial IoT.