Tractian, a machine intelligence company offering one of the most advanced industrial monitoring systems on the market, announced $15 million in Series A funding led by Next47, a global venture capital firm specializing in building category-defining B2B technology businesses. YCombinator and other previous investors also participated in the round. The new capital will allow the company to consolidate its position in the global market by extending operations from Brazil to Mexico and the U.S. and continuing rapid development of industry-leading products.
Tractian has developed streamlined hardware-software solutions designed to give maintenance technicians and decision-makers comprehensive oversight of their operations. With ease of installation and quick value generation at the heart of its customer approach, Tractian is democratizing access to sophisticated monitoring and analytics. The Tractian hardware suite includes two novel sensors: SmartTrac, which measures high-frequency vibration and temperature signals to track machine health; and EnergyTrac, used on control panels and electrical infrastructure to measure energy consumption and monitor faults.
The company extended the breadth of its suite by recently launching TracOS, a mobile-first software solution that acts as “mission control” for industrial maintenance. TracOS incorporates data from its sensor family with intuitive dashboarding of alerts and machine learning-based diagnostics and recommendations. More importantly, it functions as an end-to-end CMMS platform for asset-centric operations: managing work orders and scheduling, checklists, procedures, inventory, and more.
“This is a critical space, the heartbeat of our economy. Our goal is to offer the best machine operations platform, bringing essential digital tools to factory floors, combined with our robust IoT for asset monitoring and anomaly prediction,” said Igor Marinelli, Tractian Founder and Co-CEO. “With this new investment, we’ll continue to grow at a rapid pace, challenging old-fashioned industrial suppliers who insist on selling rudimentary solutions at exorbitant prices that do not justify the value added.”
Tractian has experienced accelerated momentum in the past year, generating over 400% revenue growth on the strength of its product suite and ease of adoption. It has more than tripled its customer base to 200 industrial logos including large multinational brands such as Bosch, Embraer, Hyundai, John Deere, and Karcher. Net revenue retention stands at 150%, a result of the immediate, powerful ROI realized by customers. Tractian has also hit impressive scale, deploying thousands of sensors in a variety of industrial sectors such as aerospace, automotive, food and beverage, pulp and paper, and metals among others.