Augury's $75 Million Funding: A Leap into the Future of Industrial AI
February 19, 2025, 9:39 pm
In the fast-paced world of technology, Augury Inc. has made headlines with its recent $75 million Series F funding round. This New York City-based company, with roots in Haifa and Tel Aviv, is not just another startup; it’s a beacon in the realm of Industrial AI solutions. With a valuation exceeding $1 billion, Augury stands tall as a unicorn in the Production Health category.
The funding round was led by Lightrock, a firm known for its strategic investments in transformative technologies. Existing investors, including Insight Partners, Eclipse, Qumra Capital, Schneider Electric Ventures, and Qualcomm Ventures, also joined the party. This influx of capital is not merely a financial boost; it’s a vote of confidence in Augury’s vision and capabilities.
Since its last funding round in 2021, Augury has seen remarkable growth. Revenue has soared five-fold, and the company has tripled its customer base among Fortune 500 manufacturers. This is not just growth; it’s a surge. Augury has expanded its product portfolio, moving from asset performance and reliability to include AI-driven solutions for process optimization. This evolution is akin to a caterpillar transforming into a butterfly, ready to take flight in a new direction.
At the helm of this transformation is Saar Yoskovitz, co-founder and CEO. Under his leadership, Augury has carved a niche in the industrial landscape. The company’s AI technology is purpose-built, trained by industry experts, and backed by a vast data library. This unique combination allows Augury to help manufacturing and industrial companies eliminate production downtime, enhance process efficiency, maximize yield, and reduce waste and emissions. It’s a holistic approach, addressing multiple pain points in the manufacturing process.
The new funding will primarily focus on introducing Agentic-AI capabilities. This is not just a buzzword; it represents a significant leap forward in how AI can interact with and enhance human decision-making in industrial settings. Imagine AI as a trusted advisor, providing insights that lead to smarter, faster decisions. This is the future Augury is aiming for.
Augury’s impact is already palpable. The company has partnered with industry giants like PepsiCo, DuPont, and Colgate-Palmolive. These collaborations have resulted in substantial sustainability gains, including a reduction of up to 37% in process waste and a 2% increase in energy efficiency per manufacturing plant. The numbers speak volumes. By 2040, Augury’s solutions are projected to cut emissions by approximately 12%, translating to a reduction of 3 million tons of CO2 annually. This is not just good for business; it’s good for the planet.
In addition to securing funding, Augury has strengthened its leadership team by bringing on Elan Greenberg as Chief Operating Officer. Greenberg’s experience in scaling businesses like Flock Safety and DoorDash will be invaluable. His background in M&A at Morgan Stanley and service in the United States Marine Corps adds depth to the leadership team. With Greenberg on board, Augury is poised to accelerate its operational velocity and global scale.
The journey of Augury is a testament to the power of innovation. The company has a history of firsts, from introducing prescriptive AI-driven solutions that eliminate downtime to deploying global-scale Industrial IoT solutions. Each step has been a building block, laying the foundation for what’s next. The introduction of Agentic-AI capabilities is just the latest chapter in this ongoing story.
The manufacturing sector is at a crossroads. As companies grapple with the challenges of efficiency, sustainability, and profitability, Augury offers a lifeline. Its predictive maintenance technology boasts an impressive 99.9% failure detection accuracy. This level of precision is not just a statistic; it’s a game-changer. When deployed at scale, Augury’s solutions can deliver a return on investment of 5 to 20 times. This compelling value proposition is hard to ignore.
As Augury continues to push the boundaries of what’s possible, it remains committed to its mission. The company aims to empower humans and machines to work in harmony, enhancing productivity and driving innovation. This vision is not just about technology; it’s about transforming the way industries operate.
In conclusion, Augury’s recent funding round is more than just a financial milestone. It’s a signal of the company’s potential to redefine the industrial landscape. With a robust growth trajectory, a commitment to sustainability, and a focus on innovation, Augury is not just keeping pace with the future; it’s shaping it. As the company embarks on this new chapter, the world will be watching closely. The industrial revolution is here, and Augury is leading the charge.
The funding round was led by Lightrock, a firm known for its strategic investments in transformative technologies. Existing investors, including Insight Partners, Eclipse, Qumra Capital, Schneider Electric Ventures, and Qualcomm Ventures, also joined the party. This influx of capital is not merely a financial boost; it’s a vote of confidence in Augury’s vision and capabilities.
Since its last funding round in 2021, Augury has seen remarkable growth. Revenue has soared five-fold, and the company has tripled its customer base among Fortune 500 manufacturers. This is not just growth; it’s a surge. Augury has expanded its product portfolio, moving from asset performance and reliability to include AI-driven solutions for process optimization. This evolution is akin to a caterpillar transforming into a butterfly, ready to take flight in a new direction.
At the helm of this transformation is Saar Yoskovitz, co-founder and CEO. Under his leadership, Augury has carved a niche in the industrial landscape. The company’s AI technology is purpose-built, trained by industry experts, and backed by a vast data library. This unique combination allows Augury to help manufacturing and industrial companies eliminate production downtime, enhance process efficiency, maximize yield, and reduce waste and emissions. It’s a holistic approach, addressing multiple pain points in the manufacturing process.
The new funding will primarily focus on introducing Agentic-AI capabilities. This is not just a buzzword; it represents a significant leap forward in how AI can interact with and enhance human decision-making in industrial settings. Imagine AI as a trusted advisor, providing insights that lead to smarter, faster decisions. This is the future Augury is aiming for.
Augury’s impact is already palpable. The company has partnered with industry giants like PepsiCo, DuPont, and Colgate-Palmolive. These collaborations have resulted in substantial sustainability gains, including a reduction of up to 37% in process waste and a 2% increase in energy efficiency per manufacturing plant. The numbers speak volumes. By 2040, Augury’s solutions are projected to cut emissions by approximately 12%, translating to a reduction of 3 million tons of CO2 annually. This is not just good for business; it’s good for the planet.
In addition to securing funding, Augury has strengthened its leadership team by bringing on Elan Greenberg as Chief Operating Officer. Greenberg’s experience in scaling businesses like Flock Safety and DoorDash will be invaluable. His background in M&A at Morgan Stanley and service in the United States Marine Corps adds depth to the leadership team. With Greenberg on board, Augury is poised to accelerate its operational velocity and global scale.
The journey of Augury is a testament to the power of innovation. The company has a history of firsts, from introducing prescriptive AI-driven solutions that eliminate downtime to deploying global-scale Industrial IoT solutions. Each step has been a building block, laying the foundation for what’s next. The introduction of Agentic-AI capabilities is just the latest chapter in this ongoing story.
The manufacturing sector is at a crossroads. As companies grapple with the challenges of efficiency, sustainability, and profitability, Augury offers a lifeline. Its predictive maintenance technology boasts an impressive 99.9% failure detection accuracy. This level of precision is not just a statistic; it’s a game-changer. When deployed at scale, Augury’s solutions can deliver a return on investment of 5 to 20 times. This compelling value proposition is hard to ignore.
As Augury continues to push the boundaries of what’s possible, it remains committed to its mission. The company aims to empower humans and machines to work in harmony, enhancing productivity and driving innovation. This vision is not just about technology; it’s about transforming the way industries operate.
In conclusion, Augury’s recent funding round is more than just a financial milestone. It’s a signal of the company’s potential to redefine the industrial landscape. With a robust growth trajectory, a commitment to sustainability, and a focus on innovation, Augury is not just keeping pace with the future; it’s shaping it. As the company embarks on this new chapter, the world will be watching closely. The industrial revolution is here, and Augury is leading the charge.