APERIO, a Boston, MA-based company that offers AI-powered data observability solutions, closed $9 million in Series A1 funding.
The round was led by Momenta, the Industrial Impact venture capital + growth firm, and joined by investors including Chevron Technology Ventures, NextEra Energy, National Grid Partners, Delek US, and Bazan Group.
The funds will be used to scale its software solution and global sales organization.
"In an extremely challenging market, we were able to secure multiple term sheets, partnering with Momenta to lead this funding round," says Jonas Hellgren, CEO, of APERIO. "We intend to expand the core team to meet increasing customer demand, as the need for our software continues to accelerate and expand into new industries."
Its solution is now in use by dozens of large industrial customers, including some who have invested in APERIO, to address the reliability of their operational data for optimizing performance and minimizing business risk.
Powered by artificial intelligence (AI), APERIO accelerates its mission to bring data quality to more Global 500 companies.
Company: APERIO.AI, Inc.
Round: Series A1
Funding Month: August 2023
Lead Investors: Momenta
Additional Investors: Chevron Technology Ventures, NextEra Energy, National Grid Partners, Delek US, and Bazan Group
Company Website: https://aperio.ai/
Software Category: Data Software
About the Company: Founded in 2020, APERIO is a data software company that helps customers drive profitability and sustainability goals while mitigating risk in their industrial operations. Powered by AI machine learning, APERIO automatically validates operational data at scale to improve data accuracy, security, and value, allowing for better, smarter business decisions based on real-time, trusted, superior data.