Israeli AI machine health and process health solutions company Augury has announced the completion of a $75 million financing round led by Lightrock with participation from existing investors Insight Partners, Eclipse, and Qumra Capital as well as Schneider Electric Ventures and Qualcomm Ventures. The new round represents an increase in valuation for Augury, which maintains its position as a ‘unicorn’ startup.
Since its last financing round in 2021, Augury's revenue has risen five-fold, and its customer base of Fortune 500 manufacturers has tripled - customers include PepsiCo, DuPont, and Colgate-Palmolive. The company has also expanded its product portfolio from asset performance and reliability to incorporate AI driven solutions for process optimization.
Augury, which was founded in 2011 by CEO Saar Yoskovitz and CPTO Gal Shaul,
Yoskovitz said, "Augury has a long history of firsts, from the introduction of prescriptive AI-driven solutions that eliminate downtime and the first truly global-scale Industrial IoT deployments in our category to the introduction of AI solutions that encompass both machine and process health. With this new funding we will continue that track record, breaking new ground in the introduction of Agentic-AI capabilities that build on our expertise and that our customers can trust across their most critical assets and processes."
Augury has also announced the appointment of Elan Greenberg as Chief Operating Officer. Greenberg has helped scale category-leading businesses, such as Flock Safety and DoorDash, solving complex operating problems with an emphasis on customer satisfaction.
"We are proud of our position as a leader in Industrial AI," added Yoskovitz. "But we see our accomplishments to-date as simply the preparation for the opportunity we have ahead of us. We are excited to partner with the world’s leading manufacturers to usher in a new generation of AI and push the boundaries of human productivity."
Published by Globes, Israel business news - en.globes.co.il - on February 19, 2025.
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